The Property Assessed Clean Energy (PACE) program is a financing program approved by State legislation and made available in communities by the local governments. It is an innovative way to finance energy efficiency, renewable energy, and water upgrades to residential and commercial buildings.
How is CaliforniaFIRST different than traditional financing?
CaliforniaFIRST uses private capital to fund all projects. The financing is secured by the property and collected through a voluntary assessment on the property tax bill. No minimum credit score is required to qualify. The program offers:
Competitive fixed interests rates
Payment terms of 5,10,15,20,25, or 30 years depending on the expected useful life of the product(s)
Is CaliforniaFIRST financing a government subsidy?
No, CaiforniaFIRST financing is not a government subsidy. CaliforniaFIRST financing is a private financing that must be repaid in full.