Property Assessed Clean Energy (PACE) financing is available in Palm Beach County
The County’s commitment to climate resilience and sustainability includes making important tools available to constituents to help them meet their sustainability goals. Property Assessed Clean Energy, or PACE, financing allows property owners to fund energy efficiency, renewable energy, and wind mitigation projects with little or no up-front costs. With PACE, residential and commercial property owners living within a participating district can finance up to 100% of their project and pay it back over time as a voluntary non-ad valorem assessment on the annual property tax bill.
Other types of financing may be available to property owners, and Palm Beach County does not guarantee that PACE is the best financing option. As with any financial decision, it is up to the property owner to make the best decision to finance their project. Property owners should consider seeking professional assistance in selecting the option most appropriate for their particular financial situation.
For more information on the PACE model, visit: https://www.energy.gov/eere/slsc/property-assessed-clean-energy-programs
How does it work?
PACE is independently administered by multiple PACE Providers in Palm Beach County. Each PACE Provider administers the program on behalf of a District. State of Florida law allows Districts to levy additional taxes. This allows the PACE Providers to directly bill the Tax Collector to add a non-ad valorem special assessment to the annual property tax bill.
This is an assessment on your property; it is not a loan, grant, or Palm Beach County Board of County Commissioners Program.
Under Florida law, property taxes stay with the property when it is sold and the same holds true for assessments. However, the seller's lender or the buyer's lender (i.e. the mortgage company)
may require the seller to pay off the remaining outstanding balance of the assessment before the property owner sells or refinances the property. Check with your mortgage lender if this may be the case for you. In addition, by law, property owners must provide notice of the assessment to the buyer prior to the sale of the property.
Failure to pay the PACE assessment could trigger foreclosure and property loss even if the property owner is current on other mortgage lien(s).
What's involved in applying?
Each provider will have a slightly different process based on their own program guidelines. Click below for a flowchart of the basic steps for PACE financing.
I want to learn more, who do I talk to?
We recommend contacting individual PACE providers for specific information on qualifying improvements, financing terms, and their list of contractors (see Provider information below).
Palm Beach County oversees the PACE Providers and Districts only to ensure compliance with the Florida Statute and Palm Beach County PACE Ordinance.
COUNTY-APPROVED PACE PROVIDERS:
Is this information only for residents of unincorporated Palm Beach County?
County-approved PACE Providers operate in unincorporated Palm Beach County and municipalities that do not already have a program or that have a program but have also taken appropriate legislative action to participate in the County PACE program.
Palm Beach County municipalities that have passed PACE resolutions or established their own PACE programs are listed below.
*Please check with your city or town for up-to-date information regarding municipality-specific PACE programs and whether or not your city also participates in the Palm Beach County PACE program.