Economic development and job creation through clean energy
PACE is an economic development engine that’s energized local economies from D.C. to L.A. and thousands of cities and towns in between. PACE makes it possible for owners of residential, commercial, industrial, multifamily, and nonprofit properties to obtain low-cost, long-term financing for energy efficiency, water conservation, renewable energy projects, and more.
PACE has already financed over $2 billion of clean energy improvements for over 95,000 homeowners and $250 million for over 750 commercial building owners. This capital investment has had profound impacts on local economies — it’s increased jobs for local, family-owned contractors and solar installers; reduced energy bills for thousands of homeowners, which puts more money in their pockets each month; and brought up property values in central business districts through efficient redevelopment projects.
PACE also helps municipalities meet their climate goals. Dallas, Los Angeles, Miami, Milwaukee and other municipalities have used PACE as a tool to tackle their greenhouse gas and energy reduction targets. According to the HERO program — which has completed over $1.4 billion residential PACE financings — every $100,000 invested leads to 182 tons of CO2 emissions abated and over 200,000 gallons of water saved. PACE programs only allow the use of certified efficient products to ensure that customers will save energy.
Contact SPEP™ for details on the eligibility requirements to become a Licensee for SPEP™.