In this edition of the Barrier Bulletin, I wanted to share some information about an exciting program that ties loans for renewable energy and energy efficiency upgrades to property, with the loans then being paid off through a voluntary increase in property taxes.
At Barrier, we see the program as a cash-flow device for potential customers who want to make green, clean or energy-efficiency related improvements with no cash out of pocket.
The program, Property Assessed Clean Energy (PACE), helps home and business owners pay the upfront costs of green initiatives, including solar panels, by increasing property taxes by a set rate over about 20 years.
PACE allows property owners to begin saving on energy costs while they are paying for their green upgrades. Often, property owners have net gains even with the increased property taxes.
If you don’t have capital or can’t get a loan due to the current economic crisis, but you still have a leaky roof, this program may be for you.
Barrier provides many of the products and systems covered by PACE, including solar energy systems, cool roofs, green roofing products and top-quality insulation.
We’d love speak with you about how your project can benefit from PACE!