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Enhancing Resilience with PACE Funding for Sustainable Improvements

Learn about PACE funding for renewable energy, energy efficiency, and wind hardening to create safer, more resilient properties with lower costs and tax benefits. Discover the benefits and qualifications to make your property more secure.

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Enhancing Resilience with PACE Funding for Sustainable Improvements

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  1. Florida PACE Funding Agency By Paul Handerhan Senior V.P. of Public Policy • Town of Lake Park • Welcome

  2. What is PACE? Property Assessed Clean Energy (PACE) is a way for qualified property owners in subscribed communities to finance, renewable energy, energy efficiency and wind hardening improvements through a long-term property assessment. • What is PACE?

  3. SAFER homes and businesses. • INCREASED life safety during a hurricane or catastrophic event. • COMMUNITY RESILIENCY: Communities recover faster after severe weather events • LOWER INSURANCE COSTS: Homeowner’s Insurance savings—up to 77% credit off of the filed hurricane rate. • LOWER ENERGY COSTS • Lower utility bills • Tax credits • Rebates • Why PACE?

  4. Renewable energy • Energy efficiency • Wind hardening • What can • PACE be • used for?

  5. Renewable Energy Any system in which the electrical,mechanical, or thermal energy is produced through hydrogen, solar PV(photovoltaic), solar thermal, geothermal, biomass, biogas, ocean or wind. • Qualifying Improvements (cont.)

  6. Energy Efficiency • Qualifying Improvements (cont.) • Solar equipment • Solar Thermal (Heating water) • Solar PV Water Heater • Solar PV Attic Fan • Rooftop Solar PV

  7. Wind Hardening • Roof replacement; • Storm shutters; • Impact windows/doors; and • Garage door bracing. • Qualifying Improvements (cont.)

  8. Must have a Better Business Bureau rating of “B” or higher, if available. • Must carry the proper licensing and insurance for the improvement being performed. • Must have all required work permitted and inspected by the local code officials. • Must get the property owner to sign a letter satisfaction prior to payment. • Contractor Controls

  9. New roof in Marion County • Home Improvement Successes Before and after of roof in Tamarac, Broward County

  10. Up to 100% financing for qualifying improvements. • Up to 25 years to pay, depending on weighted average improvement life. • Financing is not subject to a credit score evaluation. • Non-balance sheet debt, does not negatively impact credit capacity. • Financing Advantages for Property Owners 10

  11. For properties to qualify: • Properties must be on the property tax roll • Properties may be 1-4 residential units/owner-occupied • Mobile homes are excluded • For property owners to qualify: • Must be owner of record • No missed or late mortgage payments and property tax payments for the last 3 years, or period of ownership, whichever is less • No involuntary liens on the property • Property Owner Program Qualifications

  12. AllianceNRG (formerly E-Vest) is the program developed by the Florida PACE Funding Agency to administer the financing to qualified property owners. • FAIR advocates for wind mitigation. • FAIR plans to do more to harden homes and businesses against hurricanes than we have in the last 23 years since Andrew. • About AllianceNRG and FAIR • Tamarac

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