PACE (Property Assessed Clean Energy) is intended to help lower utility bills, increase property values and to make communities more sustainable. Many different types of home improvements may qualify. In general, eligible upgrades are installations that increase energy efficiency, or conservation. Many types of clean energy upgrades might also be considered: cool roofs, window and door replacements, irrigation and lighting control systems as examples.
PACE helps both residential and commercial property owners save through financing the installation of energy efficiency and water conservation improvements that can reduce overall utility costs. The option for PACE financing can fund projects with no out-of-pocket costs and terms that might extend to 20 years. PACE financing is unique because it allows loan repayment as a line item on a property tax bill rather than by monthly payments to a private lender. As an added benefit, owners sometimes reap tax exemptions or gain State energy credits.
Brea property owners, including commercial properties, can comparison shop with six different PACE program providers available to them. While the City allows for PACE options, it never endorses or recommends any specific participating contractors. Individual PACE program lenders are responsible to qualify the contractors they will use and these companies are never to solicit your business by implying that the city or a utility company has initiated their contact. Beware of such sales tactics.