PACE is an innovative mechanism for financing energy efficiency and renewable energy improvements on private property.
PACE offers real estate financing for commercial property owners to upgrade their buildings for sustainability and resiliency. Owners can use it as "rescue capital" to refinance past energy or water infrastructure projects.
It can also be used as another tool for developers to use in building their capital stack. The program allows developers to replace equity or MEZZ with PACE at half the cost.
This presentation describes the PACE evolution in Michigan; its development, use, and benefits; what it pays for; and which building class assets can avail its use. It also delves into stakeholder involvement, the PACE Administrator role and presents case studies.
Presented by Robert Mattler of Green Portfolio Solutions