PACE Financing Marketplace Provides Financing Options
The Financing PACE Marketplace provides additional financing options for property owners who want water and energy efficiency upgrades and the installation of renewable energy. The Marketplace complements SCEIP (Sonoma County Energy Independence Program) financing option currently provided by the County Treasury.
To achieve the speed and scale needed to reach Sonoma County’s community goals for energy independence, the PACE Marketplace will expand funding capacity. Bonding capacity of the SCEIP Financing product from the County Treasury is limited to $60 million with $43 million currently extended. The Marketplace will augment the public investment with private sector funds promoting and safeguarding the sustainability of the County’s PACE initiative for the long term.
The Energy Independence Office plays a key role as Sonoma County’s not-for-profit, neutral third party operating for the public benefit. Housing the oldest residential PACE program in the Country, the Energy Independence Office has established itself as the “go to” centralized entity to secure information on the value of upgrades, contractor resources, rebates, and financing options. Under the Financing Marketplace concept, the Office will continue to serve in that capacity while working collaboratively with the private sector resources to promote and implement PACE finance projects. Below is a chart of residential PACE programs.