What is PACE?
Property Assessed Clean Energy (PACE) allows property owners to receive up-front financing for qualifying improvements related to energy efficiency. Property owners voluntarily agree to the program terms for financing and repay through a non-ad valorem special assessment added to their property tax bill. There may be other types of financing available to the property owners, applicants are encouraged to do their own research and should understand any and all implications of the PACE program.
Qualifying improvements may include: roof replacement, storm protection (shutters or impact windows), rooftop solar, solar water heater, energy efficient air conditioning units, cool roof and insulation are just to name a few. Contact individual PACE providers below regarding specific improvements, financing terms and lists of approved contractors.The PACE program is voluntary and the program terms are between the individual property owner and their PACE provider.
PACE Pembroke Pines
On May 6, 2015, the City Commission approved a citywide PACE program via Resolution No. 3453.
The City of Pembroke Pines, it’s City Commission, officers, agents, and employees do not endorse any PACE program or company. The City does not guarantee the quality of work by contractors of the PACE program. The following links are being provided for informational purposes only. Any decision to participate in a PACE program is exclusively within the discretion of the property owner (applicant). Residents should be aware that building permits may be required for the renovations to their property and should discuss permit requirements with their selected PACE providers.
There are other types of financing tools available, the City does not guarantee that the PACE program is the best financing option. It is up to the property owner (applicant) to make the best financial decision.
Here are some key points to be aware of:
1. PACE is a financing program (not a rebate or grant) the property owner agrees to pay back the financed amount on their annual property tax bill.
2. PACE Providers are private companies that administer the program. This program is not operated by the City.
3. Your annual property tax bill will increase. If you pay your taxes through escrow, your monthly mortgage payments may also increase.
4. The City does not charge the property owner any fees regarding PACE. There are administrative fees and interest associated with PACE financing from the PACE Providers - and those vary depending which PACE Provider you choose.
5. PACE financing is recorded against the property as an assessment. The tax lien is in the first position, meaning that if a homeowner goes into default, the PACE Provider gets paid before any other creditors, including the lender(s) that hold the mortgage.
6. Nonpayment risks foreclosure and default on the homeowner’s traditional mortgage.
7. PACE assessments don’t always show up on the first tax bill; it often shows up in the second tax cycle, so homeowners may find themselves in a situation of having to pay more (up to double) the first year to true up the impound account. You should call your mortgage service immediately if you choose PACE financing.
8. For the most part, conventional loan institutions (i.e. Fannie Mae, Freddie Mac) and some banks currently won't lend on a property unless the PACE debt is settled in full prior to closing or refinancing.
9. Property owners must notify potential buyers that there is a PACE assessment on the property prior to sale.
10. The Certificate of Completion should not be signed until the improvement project has been completed to your satisfaction.
The City of Pembroke Pines has entered into non-exclusive agreements with four PACE providers, additional PACE providers are welcome to negotiate with the City. The goal is to provide property owners with more consumer choice. property owners should receive multiple quotes from contractors when considering home improvements. Property owners are strongly encouraged to research PACE providers, contractors as well as seek additional quotes and/or estimates for services provided.
CounterPointe Energy Solutions
Alliance NRG Website
Email Renew Financial
Renew Financial Website
Ygrene Energy Fund Florida
Email Ygrene Works
Ygrene Works Website
Florida Resiliency and Energy District (FRED)
Email FRED Opens a New Window.
FRED Website Opens a New Window.
Broward County also operates with PACE separately and may have additional information or providers regarding PACE. More information on PACE can be found on the Broward County’s PACE website Opens a New Window. .
Visit the Department of Energy’s Energy Saver web page for additional information on home energy improvements.