Financing solar through property taxes
Property Assessed Clean Energy (PACE) enhances property values and benefits the community as a whole with the most secure finance structure for funding building improvements. PACE is a way for homeowners to repay their energy upgrades, like solar, through their property tax bills. The loans are paid back through incremental increases to your property taxes.
What is the term availability?
- 5, 10, 15, or 20 years with a prepaid lease or loan option.
When is the first payment due?
- Anywhere up to 18 months out, depending on when you normally pay your property taxes.
What is the minimum and maximum that I can finance?
- The minimum amount is $5,000 and the maximum is 10% of the home’s value.
PACE benefits to homeowners:
- $0 down / 100% financing
- Borrow up to 10% of property value
- Interest is tax deductible
- Not based on FICO scores & not attached to your credit
- Deferred payments / low interest rates
- Low monthly payments (5,10,15, or 20 years)
Current jurisdictions with PACE:
- Santa Clara County
- San Mateo County
- Alameda County
- Santa Cruz County