PACE Equity helps building owners use a special financing vehicle, known as PACE, to enable these clean energy improvements. PACE is a program legislated at the municipal level that allows private investments to fund energy loans for improvements to buildings through a tax assessment lasting no more than 20 years.
To see PACE Equity in action, preview the following case study: University Club Case Study Oct 2014
Learn more about the solutions PACE Equity offers in this short video:
EXPERIENCE & EXPERTISE
PACE Equity has played a major role in developing PACE markets across the US. We have successfully developed and implemented building improvement projects using PACE. PACE Equity has an active relationship in all PACE districts throughout the US.
Project Development Experience
The PACE Equity team has developed projects focusing on energy efficiency and renewable energy resources throughout the US for many building types – including commercial buildings, hotels, clubs, schools, industrial and manufacturing facilities, data centers and R&D facilities.
PACE Equity will manage the approvals process to receive mortgage lender acknowledgement, program compliance and a commitment to financing for your project.
Expertise On Rebates and Incentives
PACE Equity will obtain rebates and incentives to improve the economics of your project. We have extensive experience working with local utilities throughout the US to obtain both custom and prescriptive rebates.
PACE Equity is experienced in providing owners representation and/or construction management services to procure the various trades engaged in the project. We will define of the project scope and budget, outline a procurement process with trades of the owner’s choosing, and ensure collaboration, communication, quality control, and proper commissioning upon completion. This capability empowers customers to leverage PACE funding, utilizing a procurement process that fits their needs.
At the beginning of the project development lifecycle, PACE Equity will analyze the building to build the business case for the project. This business case includes a description of scope (energy savings measures) along with estimated costs and savings.
Development of Energy Models
Depending on the complexity of the project, PACE Equity will develop building energy usage models to determine the most effective combination of measures to implement. This capability is especially useful in new construction and where the building usage will change as a result of the project (e.g. converting a commercial building shell or adding a data center), and a baseline has to be computed to determine the amount that can be financed with PACE.
In PACE markets that require guarantees, PACE Equity will guarantee the energy performance of projects. As it relates to energy guarantees, our objective is to reduce the risk associated with the energy savings, along with the corresponding cost of the guarantee.
PACE Equity provides reporting on all projects for multiple years following project completion to provide visibility into building performance after the improvements have been made. These reports are an excellent means to monitor ongoing utility performance to ensure your return on investment. We also have the capability of providing measurement and verification of savings following international IPMVP standards.
With PACE Equity, buildings owners are eligible to have all project development costs covered by PACE Equity and included in the PACE financing. This capability provides a unique advantage to building owners as there are truly zero out of pocket costs to develop projects.
Depending on the market and the project, PACE Equity will either directly finance the project or arrange for a knowledgeable PACE financing source to fund it. We can provide commitments to fund the project at the beginning of the project development process.