TX-PACE For Property Owners
Property Assessed Clean Energy (TX-PACE) is a proven financial tool that incentivizes Texas’ property owners to upgrade facility infrastructure with little or no capital outlay. Approved by State legislation and established by your local governments, TX-PACE programs enable owners to lower their operating costs and use the savings to pay for eligible water conservation, energy efficiency, resiliency, and distributed generation projects. Owners gain access to private, affordable, long-term (typically 10-20 years) financing that is not available through traditional funding avenues.
PACE financing may be used to pay for permanent improvements to the property that are intended to decrease water or energy consumption or demand.
Typical Examples Include:
Chillers, boilers, and furnaces • HVAC, BMS, BAS, EMS controls • Lighting • Water heating systems • Energy management systems and controls • Roofing • Windows • Doors • Insulation • Elevator modernization • Pool equipment • Distributed generation systems • Heat recovery and steam traps • Solar panels • Wind turbines • Water management systems and controls • Irrigation equipment • Rainwater collection systems • Toilets • Faucets • Greywater systems… and more!
PACE in Texas is open-market, and consequently, a wide range of parties can make PACE loans. Eligible third-party lenders may include:
- Any federally insured depository institution such as a bank, savings bank, savings and loan association, and federal or state credit union;
- Any insurance company authorized to conduct business in one or more states;
- Any registered investment company, registered business development company, or a Small Business Administration small business investment company;
- Any publicly traded entity; or
- Any private entity that:
- Has a minimum net worth of $5 million;
- Has at least three years experience in business or industrial lending or commercial real estate lending (including multifamily lending), or has a lending officer that has at least three years experience in business or industrial lending or commercial real estate lending; and
- Can provide independent certification as to the availability of funds.
All lenders must have the ability to carry out, either directly or through a servicer, the bookkeeping and customer service work necessary to manage the assessment accounts.
Note that the Texas PACE Authority neither recommends nor endorses any particular PACE Service providers. This directory is provided solely for convenience in consolidating a list of PACE service providers. If you would like to be listed as a PACE lender, please contact Texas PACE Authority
Eligible Properties
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Commercial Property Commercial real property - including non-profit real property such as private schools, medical facilities, churches, etc. |
Industrial Property Industrial real property - including privately owned agricultural real property. |
Multi-Family Residential Property Multi-Family Residential real property with five or more dwelling units. |