A big thanks to Steve Brown and Aaron Kraus from Greenworks Lending for speaking at our Power Lunch this month. It was very interesting to learn about PACE financing and how it can open doors to building owners who wish to upgrade their facilities but don’t have the funds upfront to do so. PACE is like a loan that’s spread out into annual payments over the course of 10 to 20 years. However, you see the savings immediately in your greatly reduced utility bills. In this sense, building owners end up saving a lot of money, while using less electricity and water. PACE is a unique financing option and is there for building owners when traditional financing options aren’t. PACE is not available to single family homes, private residences or government buildings. But is a great option for commercial building owners and nonprofits.
After hearing Steve and Aaron’s talk, I went directly to some non-profits I know who own very old (and very inefficient) buildings. They have been wanting to upgrade their windows, water heaters, and install solar panels for decades now, but simply don’t have the funds to do so. They were very excited to learn about Greenworks Lending and PACE financing as a viable option for them.
Here’s a short video on how PACE financing works:
Missed the talk? Download the slides!