Property Assessed Clean Energy (PACE)
PACE Programs
On November 3, 2015 and again on October 3, 2017, the City of Pinole approved three PACE Program providers. A PACE program is a simple and effective way to finance energy efficiency, renewable energy, seismic strengthening, vehicle charging infrastructure, and water conservation upgrades to residential or commercial buildings.
The City of Pinole’s participation in the three PACE programs include the HERO, California FIRST, and Ygrene. The City does not loan money for energy upgrades. Instead, PACE financing is provided through the PACE providers themselves. Eligible applicants can fully finance energy upgrades and make annual payments on their property taxes.
The 2015 and 2017 reports presented to the Council provide a history of the programs, the allowed improvements, and an overview of the financing process. Click on the following dates to view the Council reports for October 3, 2017 & October 20, 2015.
Pinole homeowners and businesses should carefully weigh their options and seek the best financing available when making energy upgrades. PACE is just one way to finance energy improvements and has the advantage of making loan payments on the property tax bill.
Benefits
- No upfront costs
- Long-term, fixed-cost 100% financing
- Loans secured by the property rather than owner’s credit standing
- Assessment may be passed on to the next property owner in the event of sale
- Can be combined with rebates.
Questions about PACE programs should be directed to the PACE providers.
PACE Providers
Ygrene Works
HERO (Home Energy Renovation Opportunity) Program
Please refer to the 2018 California Residential HERO Program Handbook for information.
California FIRST Efficiency Financing
Risk Acknowledgement for PACE
Before completing a program application, you should carefully review any mortgage agreements. Entering into a contract without the consent of the existing lender(s) could constitute an event of default. Further, property owners who sell or refinance their property may be required to prepay such assessments at the time they close their sale or refinancing.
Technical Assistance
PACE is one option for solar and energy efficiency financing. Always get multiple bids and check all available financing and costs to find the best option for your project. For free, unbiased technical assistance on solar and energy efficiency upgrade projects, rebates, and financing, contact the SmartSolar Program.