Race toward Savings with PACE!

Let’s say you’ve been thinking about getting a new solar system. You’ve been hearing so many great things about solar panels and solar pool heating: lower energy bills, you’d be doing your part to live green, etc.

But for many homeowners, the initial cost of a solar system may seem scary. They know that the long term benefits would more than make up for the payment, but are unsure if their finances would allow for that expense, or if they’d stay with their property long enough to reap the profits.

That’s where the Property Assessed Clean Energy (PACE) program comes in. PACE makes solar affordable from day one by providing low-interest transferable loans without credit checks. The loan is based only on the home’s equity.  PACE helps make the solar payments lower than the energy savings, so you’re cash positive from day one. Whenever the house is sold, the payments and savings automatically pass onto the new owner. Who wouldn’t want to buy a house with lower bills? These programs allow for secure financing of clean energy projects, can lead to low interest rates on property tax bills, and spread repayment over many years, removing the requirement that the debt be paid at sale or refinance.

Here’s a breakdown of what happens with PACE:

1. The city or county creates a land-secured financing district.
2. Property owners in that area voluntarily sign up for financing to install energy projects.
3. The government lender provides funds to the property owner to pay for the energy project.
4. Property owner repays bond through property tax bill (up to 25 years).

With PACE, the debt is tied to the property as opposed to the property owners. So, if you’re planning on moving in the foreseeable future, you can still enjoy the savings of a solar system today.  When you move, the savings plan passes to the new buyer.

It’s now easy for you to start investing in solar systems to reduce your utility costs, save money, and do your part to help the environment.

Interested in learning more about the PACE program? Contact us at Superior Solar! We’ll help you figure out if you qualify and where to go from here.