Property Assessed Clean Energy (PACE) Program

 

Are you a property owner? Want to install energy efficiency upgrades or renewable energy?

The Property Assessed Clean Energy program, also known as PACE, is an innovative financing tool focused on energy and water projects. You can use it for energy and water efficiency improvements and renewable energy projects


These types of property owners are eligible for PACE:

  • Commercial
  • Industrial
  • Non-profit organizations
  • Privately owned academic institutions
  • Houses of worship


How does it work? 

If your project is approved, the PACE lender funds up to 100% of the cost for your upgrades or installations. Financing lasts up to 25 years with a fixed interest rate and positive cash flow for the life of your project.

Complete the online PACE Project Inquiry Form

If you default on a loan payment, a lien is placed against the property. This happens through a special assessment, guaranteeing payment to the lender.

Find out more about PACE at the Lean & Green Michigan website.


Why PACE?

City Commission adopted PACE on August 22, 2017. PACE aligns with the City's Strategic Plan objective to reduce carbon emissions and increase climate resiliency. It also supports the goals and objectives of the Grand Rapids 2030 District.