Financing Florida's clean energy upgrades for homeowners
In 2010, the Legislature passed a law allowing cities and counties to implement a new type of financing program to help homeowners pay for clean energy upgrades.
The program, called Property Assessed Clean Energy (PACE), enables local governments to issue municipal bonds to provide no-money-down loans to homeowners seeking to install solar panels, put in new windows or make other energy-efficient improvements. Homeowners repay the loans through assessments on their property tax bills over as many as 20 years — long enough for the upgrades to potentially pay for themselves via lower energy or insurance costs.
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