Feds Say Popular PACE Retrofit Program Is Still Too Risky

Who’s on first?

PACE programs (“PACE” stands for “property assessed clean energy”) are authorized by states and run by local governments, which finance major improvements such as deep energy retrofits or renewable energy systems. The funds are paid back to the local government through property taxes over a long period, perhaps 10 or 20 years, removing the major barrier for these types of retrofits: the high upfront cost.