The florida pace program is authorized by florida statute 163 01 7 g.
Pace solar program florida.
A typical pace loan financed through ygrene energy fund florida runs about 20 years at an interest rate of about 7 percent.
Florida pace simplifies the home improvement financing process.
As of july 2020 pace funding was available for residential properties only in california florida and missouri.
Solar energy is florida s largest energy resource and even using current technology it would be possible for solar to provide 100 of florida s energy needs.
Pace is an innovative form of financing that offers a range of benefits not available through traditional financing options.
Borrowers can expect to repay twice the project cost over the payback.
Pace enabling legislation is active in 37 states plus d c and pace programs are now active launched and operating in 24 states plus d c.
Pace programs allow a property owner to finance the up front cost of energy or other eligible improvements on a property and then pay the costs back over time through a voluntary assessment.
The unique characteristic of pace assessments is that the assessment is attached to the property rather than an individual.
It was created to facilitate and finance energy efficiency projects renewable energy projects and or wind hardening projects for residents organizations institutions and businesses in participating municipalities in florida as authorized by florida statute 163 08.
Legislation approving pace loans had been approved in 15 more states but the programs weren t yet active.
View recent pace developments.
Pace rates will vary depending on your municipality and home value but they are based on the value of your property as opposed to your credit rating which determines your rates for traditional loans.
Get quick and easy approval for home improvement financing.
This is essentially a 26 discount on your solar system.
Hundreds of projects qualify.
Residential pace is currently offered in california florida and missouri.
The 26 solar tax credit known formally as the investment tax credit itc allows tax paying homeowners to claim 26 of their solar system s cost as a deduction on their income taxes.
22 states including those three and the district of columbia had active pace programs for commercial properties.
Pace financing is currently available for homeowners in california florida and missouri and legislation exists in some form in 36 states plus washington d c.
Property assessed clean energy pace program florida what is the 26 solar tax credut.
Solar is for all floridians you don t need to be rich or connected to take advantage of solar power because the pace program brings solar to everyone in florida.
At the end of august 2015 the obama administration announced new actions that will remove barriers for residential pace financing for single family households.
