The Bay Area Regional Energy Network (BayREN), in partnership with the U.S. Department of Housing and Urban Development (HUD), has developed the Local Government PACE Portal, a "one-stop shop" for local governments interested in allowing property owners to take advantage of PACE financing for energy efficiency, renewable energy, and water conservation improvements.
Property Assessed Clean Energy (PACE), first piloted in the City of Berkeley in 2008 allow qualified property owners in a community to obtain affordable, long-term financing for energy efficiency, renewable energy, and water conservation improvements, and repay it through their secured property tax bills. The PACE structure builds on decades of land-secured financing experience and provides security to project investors, enabling easy access to capital at competitive rates and longer payment periods than traditional loans.
Administered by the Association of Bay Area Governments (ABAG), BayREN implements effective energy saving programs on a regional level and draws on the expertise, experience, and proven track record of Bay Area local governments to develop and administer successful climate, resource, and sustainability programs. Visit the new website at https://www.bayren.org.
The new website includes comprehensive information about PACE (including a list of PACE providers in the nine Bay Area counties), outlines the steps necessary for making PACE available to local governments, and provides document templates to help staff prepare packets for presentation to local elected leaders.