PACE financing in Texas featured in Texas Tribune, New York Times
"The approach, known as Property Assessed Clean Energy, or PACE, addresses the biggest barrier to efficiency investments: initial costs that can take years to recoup. A law allowing cities and counties to set up programs passed this year with overwhelming support in the Legislature.
PACE allows the owners of commercial and industrial property to use a property tax lien to finance energy efficiency upgrades like solar panels and water recycling systems. PACE programs bill an owner through the lien and forward payments to a private lender. Under a smooth-running program, property owners pay less than what they save on their energy bills. If a property is sold, the new owner would inherit the debt — a rule meant to further reduce the risks of investment."
For more information about PACE in Texas, visit http://www.keepingpaceintexas.org/