As commercial property owners and tenants continue to seek sustainable building designs that incorporate energy efficiency or green building features, Property Accessed Clean Energy (PACE) financing will continue to receive more attention, and rightfully so.
With the increasing population, growing number of businesses, and finite amount of developable land, sustainable building designs are not a trend, but rather are an important design component that is here to stay. PACE financing is a mechanism or tool that encourages property owners to adopt sustainable building designs. (By way of example, an approximately 28,000-square-foot office building in Anaheim, California, recently used PACE financing to install solar panels.) Although there have been many articles written about PACE and its potential benefits, this article explains why property owners and mortgage lenders should be thinking about PACE financing even before any sustainable building designs or upgrades are actually identified.
Read the article here.