Property Assessed Clean Energy (PACE) financing is one of several new financial models broadening access to clean energy by addressing the barrier of initial capital cost. The majority of the PACE programs in the market today include PV as an eligible measure. PV appeals to homeowners as a way to reduce utility bills, self-generate sustainable power, increase energy independence and demonstrate a commitment to the environment. If substantial state incentives for PV exist, PV projects can be economic under PACE, especially when partnered with good net metering policies. At the same time, PV is expensive relative to other eligible measures with a return on investment horizon that might exceed program targets. This fact sheet reviews the benefits and potential challenges of including PV in PACE programs.
Consumption; Dwellings — Energy conservation—Economic aspects; Dwellings — Energy conservation — Government policy; Energy conservation—Government policy; Energy consumption; Photovoltaic power systems; Solar energy; Utilization
Energy Policy | Environmental Policy | Natural Resources and Conservation | Oil, Gas, and Energy
Photovoltaics (PV) as an eligible measure in residential PACE programs: Benefits and challenges.
Available at: https://digitalscholarship.unlv.edu/renew_pubs/27