February 28, 2018
While PACE is not yet an everyday term, it is gaining traction in Houston. What is it? Property Assessed Clean Energy. Texas PACE enables property owners to finance 100% of their energy saving, water conservation, and distributed generation improvements with little to no capital outlay.
PACE enables property owners to lower their operating costs, increase net operating income and the quality of the asset as the idea is what you save in utilities will be greater than your payments. A voluntary land-secured assessment that is paid off over time, often up to 20 years or more, the City enabled PACE as a way to incentivize sustainability and resilience upgrades to commercial, industrial and multifamily properties.
The panel will be discussing the first few successful PACE projects in Houston.