MCE offers financing options to help you get over the initial upfront cost hurdle of implementing energy efficiency upgrades.
Multifamily Properties & Small Businesses
Property Assessed Clean Energy (PACE)
Property assessed clean energy, or PACE, is an innovative way to finance energy efficiency, renewable energy, and water upgrades for residential and commercial builds. Property owners can finance up to 100% of their project for up to 30 years as a tax assessment on their property bill. The assessment obligation may be assumed by the new owner upon property sale and – under most leases – can be shared with tenants.
By providing low-cost long-term financing and making it easy for building owners to transfer repayment obligations upon sale, PACE aims to spur greater energy efficiency in existing buildings.
PACE financing provides a way to improve the efficiency of your home or business with little or no money down.
Repayment may be amortized for a period of up to 30 years, which can keep monthly payments low enough such that utility savings may exceed payments (net positive cash flow).
Interest may be tax deductible. MCE recommends consulting with a tax professional to understand if tax benefits apply to you.
The loan may transfer upon sale or refinancing, so you’re not paying for upgrades for a home or business you no longer occupy.
We encourage residents to use Go Green Finance, where you can complete a free online assessment, plus search for contractors, rebates and incentives.
Go Green Finance, allows customers and contractors to search for a variety of financing options—included PACE financing, secured and unsecured loans, and solar-specific options—and is sortable by city and zip code.