Saturday, October 20, 2018

U.S. Gov't Awards $452 Million For Energy Efficiency Upgrades

In an effort to provide a reliable and affordable lending source for energy efficiency upgrades including solar energy, the U.S. Government awarded $452 Million to 25 cities and agencies on Wednesday, April 21st.  Tatkraft Solar was especially excited to learn that Los Angeles County received $30 Million alone!  (source: http://sunpluggers.com/news/us-awards-452-million-for-pace-programs-other-energy-projects-0446).  These monies are projected to reach Los Angeles County residents through property tax solar financing programs including the Property-Assessed Clean Energy (PACE) program in the first half of 2010.  Although the exact amount of funding scheduled for allocation to PACE is reportedly unknown at this time, any additional funding sources can only help Los Angeles County's adoption of this much-needed lending option!

In brief, PACE financing allows property owners to obtain a loan from a city or municipality to finance a renewable energy project that is then paid back through property tax assessments.  This allows the cost of the project to remain with the property if the owner decides to sell the property before the loan is paid off.  Visit http://pacefinancing.org/ to learn more about this innovative financing solution.

Tatkraft Solar will keep our keen eye on the quickly evolving PACE Financing option...stay tuned for more updates!!