PACE Program

Office of Community and Economic Development
Commercial Building w Solar

Property Assessed Clean Energy (PACE)

This page is provided to describe this important program. However, amendments to the State legislation for the program have been delayed and implementation of the program has not been available to the community.

The original statute, M.G.L. c23M, allows for the establishment of a commercial Property Assessed Clean Energy program (PACE Massachusetts) to be administered by the Massachusetts Development Finance Agency (MassDevelopment) in consultation with the Massachusetts Department of Energy Resources (DOER). The Massachusetts program is considered as a centralized approach where the administration is at the State level. This provides a distinct advantage to municipalities by reducing administration requirements and risk. Essentially under a centralized approach municipalities that adopt the State legislation become a conduit for an innovative funding mechanism without the burden of negotiating, vetting, and issuing the financing.

PACE Massachusetts employs an open-market, third-party, direct-financing model (no public funds used) that provides commercial property owners the power to choose who will fund their project. It allows multiple lenders to operate within the PACE Massachusetts program and allows property owners access to the different sources of funds that are available within the commercial PACE market. A registration process is required for lenders that are interested in offering financing for PACE Massachusetts projects.

The City of Amesbury is one of the first in the Commonwealth to adopt the PACE legislation. When the State legislation is eventually adopted, the City will have the opportunity to provide this program to local businesses. We realize that energy costs are a burden to the bottom line. The PACE program can effectively reduce those costs with an innovative funding mechanism and boost the economic viability of businesses while benefiting the environment.

PACE Links
NOTE !: Please be aware that the below links are from a variety of States, non-profit organizations, and some private companies. While informative, this information may not be directly applicable to Massachusetts in programatic approach or process. The Massachusetts legislation is for Commercial properties. This information is made available to provide an overview and examples.