Temporary / Seasonal
TEXAS PACE AUTHORITY
The Texas PACE Authority administers Texas’ new PACE statute by taking a market-based approach to energy finance and economic development. PACE, or Property Assessed Clean Energy, is an innovative financing program that enables commercial, industrial, large multi-family, and agricultural property owners to obtain low-cost, long-term financing for water conservation, energy- efficiency, and renewable energy projects. Participants will then repay those loans through a property assessment imposed by the local government at the request of the property owner. PACE, has great potential to directly affect a business’ bottom lines; a project’s savings in utility costs offsets the cost of installing the project. In most instances, this will result in an immediate positive cash flow. This mechanism can be used to equip buildings with the latest in efficiency technology, including lighting, HVAC, and water conservation tools. In addition, PACE can be used for renewable energy additions, such as roof-top solar panels. The statute authorizing PACE in Texas (SB 385) was passed by the Texas Legislature in 2013 and The Texas PACE Authority is now serving 47 local governments reaching over 60% of the Texas population. We look forward to working with all parties involved – property owners, contractors, and lenders – in bringing energy and water improvements that are both economically sound and environmentally friendly.