- Office
- Commercial
- Industrial/Manufacturing
- Multifamily housing (5+ units)
- Hospitality
- Retail/Restaurant
- Healthcare
- Agricultural
- Nonprofit
- Houses of Worship
- Private schools
- HVAC systems and controls
- Chillers, boilers, and furnaces
- Water heating systems
- Energy management systems and controls
- Lighting systems
- Building enclosure and envelope improvements
- Water conservation
- Wastewater recovery and reuse
- Combustion and burner systems
- Heat recovery and steam traps
- On site power generation (CHP, microgrids, solar, etc.)
- Water management systems and controls (indoor/ outdoor)
- Irrigation equipment
- Rainwater collection systems
- …and more!
- First, the property’s current water and energy use is measured so that a baseline for comparison is established.
- Second, each potential energy or water conserving measure is evaluated to determine projected savings compared to the baseline in a technically sound, consistent, and transparent manner. Findings from these two steps together are compiled in a document referred to as an energy /water assessment report. PACE law requires that each report is evaluated by an independent third-party reviewer (ITPR) who is a licensed engineer.
- Third, after the project retrofit activities are completed, the project must be reviewed by the ITPR to ensure that the project meets the intent of the energy/water assessment report, is properly completed, and is operating as intended. The purpose of performing measurement and verification (M&V) after installation is to validate that the measures are operating as expected and the energy/water savings are being realized. Ongoing M&V is optional, but highly encouraged. Project evaluation by an ITPR provides assurances to the property owner, the capital provider, and the local government that due diligence has been met and that a professional has validated the project using standardized engineering protocols.
- American Society of Heating, Refrigeration, and Air-Conditioning Engineers (ASHRAE)
- Building Energy Assessment Professional (BEAP)
- Building Energy Modeling Professional
- Association of Energy Engineers (AEE)
- Certified Energy Manager (CEM)
- Certified Measurement and Verification Professional (CMVP)
- Certified Energy Auditor (CEA)
- Building Commissioning Association
- Certified Commissioning Professional
- Investor Confidence Project
- Quality Assurance Provider
The goal of TPA is to have a well-resourced, efficient, and financially stable organization, while keeping costs to a minimum and operating in a lean fashion. To that end, TPA charges two types of fees as part of administration, an application fee and an ongoing interest rate residual. These fees cover the basic administrative service to complete a PACE project as well as the ongoing oversight and program reporting to local governments that enact a PACE region.
Application Fee is the greater of:
- $2,000; or
- Amounting to
- 1% of total project cost of first $5 million;
- .5% of marginal amount above $5 million; and
- .25% of marginal amount above $20 million.
Initial $500 to be paid with application. Balance to be paid at closing.
Ongoing Residual Fee amounting to 8 basis points annually on the loan, resulting in a declining payment based on the outstanding principal balance to be paid as part of annual assessment. Note: This fee can be capitalized and paid in full at closing.
When an existing PACE Assessment is amended, the above Application Fee will be calculated on the difference between the original project cost and updated project cost, or $2,000, whichever is larger. An initial $500 will be paid with the amendment application. When applicable, the recurring Administration Fee will be reset accordingly.
Project Cost is defined as the total assessment amount less the TPA Application Fee.
To meet its commitment to lower rates as TPA becomes self-sufficient, the TPA board voted to lower rates in June 2017 and again in September 2019.
Yes, Texas PACE Authority conducts regular service provider training workshops and can even have someone come to your office to teach your workforce. Check out our Events page and sign up for the TPA distribution list to receive emails of upcoming training events.
A TX-PACE Service Provider Marketplace is currently under construction. Contact admin@texaspaceauthority.org to be added to our list of qualified service providers.
PACE in Texas is open-market, and consequently a wide range of parties can provide capital for TX-PACE financing. Eligible third-party capital providers 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 availability of funds.
All capital providers 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 Texas PACE Authority neither recommends nor endorses any particular PACE capital providers. This directory is provided solely for convenience in consolidating a list of PACE service providers.