Commercial Property Owners Encourage to Save Energy
and Money by Signing Up for California PACE Program
In an effort to encourage local business owners to follow the Palm Springs Path to Sustainability, the City of Palm Springs has established several PACE Programs for residential and commercial properties.
PACE, or Property Assessed Clean Energy, is an economically sustainable way to achieve energy cost savings with no up-front investment,” said Michele Mician, Sustainability Manager for the City of Palm Springs.
“PACE financing is a municipal program that gives commercial property owners the flexibility of financing efficiency improvements over time, up to 20 years, as a line item on their property tax bill,” according to Mician. “All improvements must be installed by California PACE approved contractors which means this program will provide an economic boost for the entire community.” Energy efficiency, water conservation, and renewable energy products such as air conditioners, commercial process equipment, lighting control systems and solar electricity are all financeable through the PACE program.
Highlights of the PACE Program include:
No money down
No credit checks
Fixed-rate financing up to 20 years
Instant savings on energy and/or water bills
Rebates and tax incentives
Financing can be transferred if the property is sold (commerical property only)
GO TO ONE OF THE PROGRAMS IN THE CITY OF PALM SPRINGS WHO HAVE ESTABLISHED ASSESSMENT DISTRICTS