Two years ago, the Federal Housing Finance Authority (FHFA) derailed a program that allowed homeowners to put solar panels on their roofs and invest in energy-efficiency without having to take a personal loan. Right now, FHFA is taking public feedback on this program - but we only have one week left to show that we stand with clean energy.
So where does the money come from? The PACE program allows homeowners to agree to a property tax increase to pay for renewable energy installations and energy-efficiency improvements. This small increase is less than the anticipated utility bill savings, so it's a win-win-win. Energy savings, cost savings, and a cozier home! If you sell your home before the project is paid for, the tax is passed on to the new homeowner who will continue to reap the benefits.
PACE also brings an economic shot in the arm to our communities. Within the first year, the Boulder County, CO PACE program created 120 jobs, brought $20 million in overall economic activity, and reduced homeowner's energy use by $125,000.1What if you could do the same for your community?