PACE (Property Assessed Clean Energy) Washington

  • Información general
  • Nombre del IF:PACE (Property Assessed Clean Energy) Washington
  • País:Estados Unidos
  • Región:Several States
  • Descripción del modelo
  • Titularidad:Público + Privado
  • Autoridad de gestión:Deparment of Energy (DOE) and others (private investors)
  • Gestor del Fondo:Depending on the case
  • Duración:Unknown data
  • Tamaño del fondo (Fondos totales disponibles en EUR):Unknown data
  • Fuente de financiación:Petros PACE Finance (national PACE lender) and others from the diferent States [mainly private partnership that works with local government, contractors, property owners, and lenders to invigorate each States’ PACE statutes]. No grants available.
  • Tipo de proyecto:Eficiencia energética + Energías renovables
  • Subtipo de proyecto:Rehabilitación de edificios, Gestión de iluminación, Energía solar fotovoltaica, Calderas de condesación
  • Descripción del IF: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.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. Third-party-financing instrument, local administration borrows. Financial tool: enabling owners of varied properties to receive low-cost, long-term financing for energy efficiency, water efficiency and renewable energy projects. PACE is passed via state legislation and gives local governments the authority to collaborate with private lenders to provide financing for Eligible Upgrades that are paid through a property tax assessment mechanism. PACE loan is conected to property, not building owner. PACE financing enables businesses to generate immediate positive cash-flow by financing energy retrofits over a 15-30 year term. Each proposal goes through a process of evaluation, measurement, and verification that goes on for five years after the completion of the project.
  • Objetivos generales:Reduce energy and water consumption in public or private buildings.
  • Principales resultados alcanzados:Unknown data
  • Descripción del modelo financiero
  • Tipo de beneficiarios:Rehabilitación de edificios, Gestión de iluminación, Energía solar fotovoltaica, Calderas de condesación
  • Tipo de instrumento financiero:Préstamos
  • Modelo de reembolso:The PACE loan repayment to the local government’s property tax special assessment process, PACE loans can be extended up to the useful life of the project, thereby making energy savings generated from the project greater than the loan repayment. In many states, this positive cash-flow is required before the project can be approved.
  • Links de interés:
  • Otra información: Lock up period (payment start): Depending on the case Loan default rate ( % of unpaid or overdue loans): Depending on the case Minimum interest rate, p.a.: Maximum interest rate, p.a.: Maximum repayment period, in months: 240 months Maximum % of project financed by FI: 100% Other: It is addressed to commercial, industrial, multi-family, and non-profit properties.
  • Perfil de riesgo
  • Riesgo de rendimiento:Property owner + tenant (property itself)
  • Riesgo financiero:Fund Manager + Managing Authority
  • Proyecto de ejemplo - Caso (Ejemplo de un proyecto financiado a través del instrumento financiero descrito)

Título del proyecto: Elsie Withlow Stokes. Community Freedom PCS

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