What is PACE financing?
“PACE” stands for Property Assessed Clean Energy, although these programs go by other names. PACE financing provides a way to fund energy efficiency home improvements. This is usually an additional assessment on the property that is collected with the property taxes. As with a traditional property tax lien, you may lose your home if the payments are not made.
As with any form of financing, you should consider the costs and benefits of PACE financing before signing the contract.