Minnesota’s Property Assessed Clean Energy (PACE) financing program provides property owners affordable, long-term capital to implement building-scale clean energy improvements – from smart, energy efficiency upgrades such as insulation and LED lighting, to roof-top solar power systems and electric vehicle infrastructure improvements.
PACE of MN is a financing tool that allows property owners to access competitive, private financing through a partnership with local governments and the St. Paul Port Authority. PACE allows you to maintain a positive cash flow while investing in energy upgrades—at no cost to taxpayers.
Property and business owners can borrow up to 10% the assessed property value to make energy efficiency improvements or install renewable energy projects. The property owner then repays the loan as a separate item on their property tax bill for a set period (no more than 20 years).
Project owners who use PACE financing for their energy improvements pay back the financing through property taxes, as a voluntary special assessment. Because the low-interest loan is attached to the property tax bill, it is easy for property owners to sell and transfer the property and loan repayment.