PACE FinancingPACE (Property Assessed Clean Energy) financing is a means of financing energy efficiency projects, disaster resiliency improvements and renewable energy installations of residential, commercial and industrial properties. PACE financing can be used to finance improvement projects such as insulation, cool roofs, hurricane preparedness measures and water efficiency products. PACE financing can also sometimes be used to fund new construction projects, as long as the building owner agrees to build the new structure to exceed Denver energy codes.
The primary benefit of the PACE financing program is that it lowers project costs due to providers retaining the tax incentives and passing the benefits on to Denver property owners as a low service payment. PACE financing programs are also beneficial to Denver’s home and business owners because it allots them to pay up front costs for green initiative projects such as solar panels. This allows property owners to save energy costs during their time paying for their solar panels. This program also pays for 100 percent of a project’s costs and is repaid for up to 25 years as long as an assessment is added to the Denver-area property’s tax bill. Once the property owner is qualified for PACE funding, the owner can immediately begin saving on their energy costs without up-front capital funding.
In order to attain PACE financing, a Denver property owner that is unable to benefit from the Investment Tax Credit (ITC) must enter in to an assessment contract. The pace loan funds are used as a pre-payment for energy produced by the solar system under the PPA (Power Purchase Agreement). After 6 years of receiving PACE financing, the property owner typically buys out the system with no additional capital needed, making it their cheapest option for Denver home and business owners. Along with its qualified partners, BriteStreet Solar Group provides worry free construction and maintenance of the solar system.
The PACE financing program offers owners a plethora of key advantages that are both good for them financially and good for their building. Property owners in Denver will not only immediately save in energy costs. But they will also refrain from having to pay up-front capital costs. The program also contributes to lowering the net cost of the system by up to 25 percent and provides worry free system construction and maintenance. Denver property owners will see an increase in property value, and at the end of their time on the PACE financing program, will gain system ownership.
Go Solar with BriteStreet Solar Group, Denver’s Trusted Solar Company
When you need a solar power system for your commercial or residential property come to BriteStreet Solar Group. Since 2012, our Denver-based company has offered finance and installation options for owners interested in lowering energy costs, improving curb appeal, and protecting the environment. Our experienced team uses industry-leading products paired with our financial creativity to provide affordable solar power systems that give you peace of mind. Contact our Denver office when you’re ready for simple and easy solar solutions!