Property Assessed Clean Energy (PACE) Program

Photo of PACE program logo

PACE is available in Monroe County

In 2018, the Board of County Commissioners adopted the Property Assessed Clean Energy (PACE) Program that provides an alternative option for funding of projects that increase energy effectiveness. Property owners can finance up to 100 percent of a qualified project and pay back the funds over time through their annual property tax bill.

The program is available for unincorporated Monroe County and the municipalities within Monroe County. There may be other types of financing available to property owners and with any financial decision, property owners should consider seeking professional assistance in selecting the option most appropriate for their particular financial situation.

According to Ygrene Energy Fund’s summary from September 30, 2018, unincorporated Monroe County had 10 applicants with nine approved projects in the amount of $769,797. Marathon has had five applicants for four approved projects for $111,000 and one Key Colony Beach applicant requesting $95,850.

What is PACE?

PACE is a tool that residential and commercial property owners can use for financing energy efficiency, renewables and wind resistance improvements. It is a voluntary program that enables long-term savings, furthers regional energy and resiliency goals and supports local economic development.

Qualified improvements

  • Energy Conservation and Efficiency for lighting, heating, AC, tankless water heaters and duct replacement, and attic insulation
  • Wind Resistance, like high impact windows, strapping, window and door sealing, water barriers and roof replacements 
  • Renewable Energy, like solar panels, inverters, and pool heating

Benefits

Benefits of PACE include:

  • Lower utility bills and energy savings
  • Lower insurance with wind resistance projects
  • No upfront, out-of-pocket money to do improvements
  • Payback times commensurate with return on investments, like for solar projects
  • Vetted contractors by the program
  • Interest rates are comparable with other financing tools

Repayment

Financing is repaid as an assessment on the property’s regular tax bill.

How to apply

The four County-approved PACE providers can answer questions about qualifying projects, financing terms and a list of approved contractors. 

Each provider will be slightly different with their own program guidelines; however, the basic steps are:An image of the program guidelines

County-Approved PACE Providers

County approved PACE providers operate in unincorporated Monroe County in cities and towns that do not already have a program, and in cities and towns that have a program but have also taken appropriate legislative action to participate in the County PACE program. We recommend that you reach out to individual PACE providers for specific information on qualifying improvements, financing terms, and their list of contractors. The PACE providers approved under the Monroe County PACE program are: