A Property Assessed Clean Energy (PACE) loan program has been introduced in Pulaski County, AR, according to Arkansas Online.
PACE financing allows business and home owners to finance energy efficiency steps such as the installation of solar panels and new insulation by a line item on their tax bill. The story says that state law requires that upgrades cost less than the owners would save on utility bills over time, the story says.
The “guinea pig” for the program was Fayetteville, which began a program in 2014. In 2015, the story said, a non-profit — Communities Unlimited – became the first participating company.
A change in how PACE financing is structured could help drive the financing structure forward.