What is PACE? Property Assessed Clean Energy is a financing solution that leverages property value and household income rather than personal credit scores. It can be used to finance all types of efficiency projects for a home or business, and is ideal for homeowners who want low monthly payments, who have low credit ratings, or who would like to fund multiple home improvement projects (like a new HVAC system, a new roof, and solar).
Generally speaking, homeowners need to have 10-25% equity in their home, be up to date on mortgage and property tax payments, and be able to prove their income! The loan is paid with a special property tax assessment affixed to the property that can be transferred to new property owners.
Residential PACE is available in California, Florida, and Missouri. (Ohio will be available in early 2021)
Commercial PACE is available in 24 states and Washington D.C. An additional 12 states are in development.
For a primer on PACE visit pacenation.org Here is an overview from PACE Nation:
How do you use Ygrene with Clean.Tech?
1] Simply select "PACE Funding" in the Clean.Tech app and the cash price will be calculated for the Home Improvement Agreement with Clean.Tech.
2] Call Ygrene (see below)
NOTE: Clean.Tech's California solar license is under Electrious, Inc (dba Clean.Tech)
3] Provide a copy of the Clean.Tech Home Improvement Agreement to Ygrene. The homeowner, salesperson, and Clean.Tech all receive a link to the contract immediately after it is signed by the homeowner.
The licensed and certified sales team at Ygrene will handle the sales process with the homeowner to help them decide which financing product meets their needs and budget.