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PACE Massachusetts (Commercial PACE – Property Assessed Clean Energy)
Massachusetts — state programSee program
PACE Massachusetts allows owners of commercial, industrial, and multifamily (5 or more units) properties to finance energy improvements to existing or new facilities over a long term. The loan is repaid via a municipal betterment assessment on the property and attaches to the property so benefits and payments flow to subsequent purchasers.
Program details
- Type
- loan
- Eligibility
- Owners of commercial, industrial, and multifamily (5 or more units) properties located in municipalities that have opted into PACE by a majority vote of the city or town council or board of selectmen. Eligible projects include: retrofits that reduce energy consumption; installation of renewable energy systems; new building construction; large additions (greater than 20,000 square feet or 100% or more of the existing building size); Alteration Level 3 (affecting greater than 50% of the area) to an existing building; or change of use to an existing building.
- Status
- open
- Administrator
- MassDevelopment Finance Agency (MDFA), with technical assistance from Massachusetts Department of Energy Resources (DOER)
Source: Massachusetts — state program. Confirm current terms with the administering agency before applying.