PACE provides property owners with excellent solar financing options throught their property taxs. This allows homeowners to pay back their solar loan over 15-20 years with no up-front cost for the solar system installation.
The PACE program also solves the issue "What if I sell my home"? The solar financing is transferred to the next homeowner in the property tax. Finally, it is trusted. The program is backed by the city and it is secure because it is provided by the IRS.
PACE was started with the Berkeley First Program. This program added the entire cost of the solar system to the property taxes of the homeowner and allowed the homeowner to pay back the loan over a period of 20 years. Thanks to its popularity, cities around the United States have launched similar programs.
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