Property Assessed Clean Energy, or PACE, is a useful tool for any innovative financier’s toolkit. Today, we’re taking a closer look at PACE specifically in North Carolina.
PACE 101
But first: A quick recap on PACE. PACE programs reduce the upfront costs of clean energy by allowing building owners to pay these costs over time as an add-on to their property tax bill. Paying for improvements in this way is not a new idea – special purpose property assessments have long helped finance communal improvements such as sidewalks and sewer lines.