SIMPLE IDEA NO MONEY DOWN
PACE (Property Assessed Clean Energy) is a simple and effective way to finance energy efficiency, renewable energy, and water conservation upgrades to buildings. PACE can pay for roofing, air conditioning, lighting improvements, solar panels, hot water heaters, insulation, and more for almost any property – homes, commercial, industrial, non-profit, and agricultural.
WHAT IS PACE ?
Property Assessed Clean Energy (PACE) is a financing mechanism that enables low-cost, long-term funding for energy efficiency, renewable energy and water conservation projects. PACE financing is repaid as an assessment on the property’s regular tax bill, and is processed the same way as other local public benefit assessments (sidewalks, sewers) have been for decades. Depending on local legislation, PACE can be used for commercial, nonprofit and residential properties.
HOW DOES IT WORK?
PACE is a national initiative, but programs are established locally and tailored to meet regional market needs. State legislation is passed that authorizes municipalities to establish PACE programs, and local governments have developed a variety of program models that have been successfully implemented. Regardless of model, there are several keystones that hold true for every PACE program.
- PACE can cover 100% of a projects hard and soft costs.
- Long Term financing up to 20 years
Property owners across the US are using PACE because it saves them money and makes their buildings more valuable. PACE pays for 100% of a project’s costs and is repaid for up to 20 years with an assessment added to the property’s tax bill. PACE financing stays with the residence and or building upon sale and is easy to share with tenants.
WHY IS IT SO POPULAR?
Property owners love PACE because they can fund projects with no out-of-pocket costs (NO MONEY DOWN). Since PACE financing terms extend to 20 years, it’s possible to undertake deep, comprehensive retrofits that have meaningful energy savings and a significant impact on the bottom line. The annual energy savings for a PACE project usually exceeds the annual assessment payment, so property owners are cash flow positive immediately. That means there are increased dollars that can be spent on other capital projects, budgetary expenses, or business expansion. Local governments love PACE because it’s an Economic Development initiative that lowers the cost of doing business in their community. It encourages new business owners to invest in the area, and creates jobs using the local workforce.
A PACE assessment is a debt of property, meaning the debt is tied to the property as opposed to the property owner(s), so the repayment obligation may transfer with property ownership, if the buyer agrees to assume the PACE obligation and the new first mortgage holder allows the PACE obligation to remain on the property. This can address a key disincentive to investing in energy improvements, since many property owners are hesitant to make property improvements if they think they may not stay in the property long enough for the resulting savings to cover the upfront costs.
PACE is proving to be the most effective way to pay for energy improvements for homes. Available now throughout California and in many municipalities in Florida, PACE is saving money for homeowners, creating jobs, and helping local governments achieve important environmental goals.
PACE has helped homeowners across the U.S. finance solar and energy efficiency improvements that have eliminated billions of dollars of wasteful utility bill spending. PACE provides 100% of the funds you need to purchase efficient equipment such as water heaters, insulated windows and doors, efficient roofing, solar panels, and more.
PACE makes it possible for owners of commercial, industrial, multifamily, and nonprofit properties to obtain low-cost, long-term financing for energy efficiency, water conservation, renewable energy projects, and more.
Your business or organization can obtain 100% financing for clean energy improvements from a local PACE program. Municipalities and counties work with private-sector lenders to provide this financing for qualified projects, such as solar panel installations, which is paid back through an annual assessment on the organization’s property tax bill.
The payback term may extend up to 20 years, which can save your business money by ensuring that yearly utility bill savings from your energy improvements are greater than your annual PACE payment.
Do you have a dream project in mind but feel you can’t pursue it to anywhere from 6 months to 10 years because your necessary funds aren’t fully available yet? Or would you simply prefer delaying funding.
Thanks to our longstanding partnership with HERO Financing, the largest PACE finance program in the nation, we now offer Benji, an unsecured financing program for all roofing, windows, solar, green energy, and all home improvement projects in FLORIDA starting at $4,000 and up to $50,000.
THE UNSECURED ADVANTAGE
Besides the comfort of enjoying your home upgrade long before any payment is due, there are many additional reasons to pursue unsecured financing.
- No downpayment
- 100% financing
- No lien against your property or equipment
- No interest (Special Financing)
- Competitive interest rates (Fixed Financing)
SPECIAL FINANCING AND FIXED PAYMENT PLANS
Take advantage of Benji Financing through two compelling plans: Special Financing or Fixed Payment. Both systems have their advantages and our expert ROOFING AND WINDOW consultants consultants will help guide you toward which plan is best for your household or business.
Special Financing Plan:
- Projects between $4,000 – $30,000
- 6 – 12 Month Terms
- No Downpayment
- 100% Financing
- No Interest
Fixed Payment Plan:
- Projects between $4,000 – $50,000.
- 5 – 10 Year Terms
- No Downpayment
- 100% Financing
- Competitive interest rates between 6.99 – 8.99%
a free estimate
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