PACE Program Case Studies
PACE (Property Assessed Clean Energy) is a simple and effective way to finance energy efficiency, renewable energy, and water conservation upgrades to buildings. PACE pays for 100% of a project’s costs and is repaid for up to 20 years with an assessment added to the property’s tax bill. PACE financing may stay with the building upon sale and is easy to share with tenants. State and local governments sponsor PACE financing to create jobs, promote economic development, and protect the environment.
Stellar International closed on first PACE project for a Commercial Office Building in Houston, Texas. 1225 North Loop West, which is managed by Stellar International will benefit from significant equipment upgrades using PACE. Certified studies indicate that this PACE project will create an annual savings of over 1.5 million KWH and 2.9 million dollars over 20 years.
PACE introduces a new solution for building upgrades, at no additional out of pocket cost to the owner. The savings in Energy costs will pay for the upgrades while leading the path to a Greener Future. -Seth Eslami, VP of Stellar International