Property Assessed Clean Energy (PACE) programs offer financing for homeowners who want to purchase roof solar panels, energy-efficient windows or other “green” improvements. However, the programs can make selling your home a more complicated process.
A brief primer: States pass laws that let cities and counties adopt a PACE program at the local level. Homeowners can then apply for financing through a financing program; the one with which I’ve recently had transactional experience is the Home Energy Renovation Opportunity (HERO) loan. The HERO program pays for the energy-efficient upgrades, and then the homeowner repays the HERO assessment through an additional line item on their property tax bill. Continue Reading