Texas Property Assessed Clean Energy (PACE) Program
Texas Property Assessed Clean Energy (PACE) Program is a simple and affordable way to finance energy and water efficiency upgrades for commercial properties. PACE provides low cost, long-term, 100% financing for these qualified “Green” improvements. Eligible upgrades are financed over time through a voluntary property tax assessment attached to the property. PACE improvements add value to the property and reduce utility bills with the upgrades typically paying for themselves with positive cash flow over time.
Lone Star PACE provides energy efficiency, renewable energy and water conservation improvements to existing properties while generating tangible benefits to property owners, local governments, contractors and the community as a whole. PACE financing requires lender consent for any existing mortgage and the assessment is attached to the property. This provides flexibility as the assessment can either be paid off or assumed by the new owner in the event of a property sale.