PACE : Financing solution that uses equity in home to make clean energy and home reinforcement upgrades.
Is one of the most effective ways to invest in :
-Energy Efficiency.
-Renewable Energy.
-Water Conservation.
-Resilience.
Residential PACE starts back up in California in 2014 and Renew Pace Program was launched in Florida in 2016.
This program, named one of the top 20 world changing ideas in 2009, has opened up and additional possibility for homeowners who wants to finance resilience, renewable energy , water conservation (only for California) and energy efficiency home improvements.
Let's take a look of what this means for Florida and what improvements are included.
Resilience:
* Wind-Resistant doors
* Storm shutters
* Wind Resistant roofing
* Gable-End Bracing
* Roof deck attachment Strengthening
* Roof-to-Wall Connection Reinforcement.
Renewable Energy:
* Advance energy storage systems
* Electric vehicle charging station
* Small wind turbines
* Solar inverters
* Solar Panels
* Solar Pool heating
* Solar Water heating
Energy Efficiency:
* Air-source heat pump * Indoor and Outdoor lighting fixtures
* Cool Roof-performance and prescriptive * Insulation (floor, attic, duct and wall)
* Doors and windows * Pool pump, motor and heater
* Duct replacement and / or sealing * Programmable Thermostat control
* Fans (ventilating whole house, ceiling and attic) * Radiant Barrier
* Geothermal heat pump * Skylights and tubular daylighting devices
* HVAC System * Water heaters (gas storage and tankless).
What are the benefits for homeowners?
The benefits are 100% financing, you can finance up to 20% of property value (min $5K max $250K), flexible repayment terms that can be determine at the moment of the application, sometimes the interest may be tax deductible, doesn't affect your credit score and won't appear in your credit report , no prepayment penalty fee, easy paperless process, fixed payments, etc.
Not all contractors are registered with the program. So if you plan to make home improvements or simply replace what was damaged by the hurricane to take advantage of this opportunity, make sure the contractor you are hiring is approved.
Best wishes on all your projects!!!
Stay Green!!!
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