PACE financing, or Property Assessed Clean Energy Financing, is a government backed program that helps homeowners and property owners like you make upgrades like going solar.
Up to 25-year terms
Borrow up to 20% of home’s value
Not FICO driven
Go Solar with PACE
in 3 easy steps…
2) Design & Install Your Solar System
3) Make payments through your property taxes
PACE Makes Home Solar Possible for Middle Class Families.
Middle class families need to preserve their access to credit and home equity for emergency or maybe even running a small business. We provide PACE financing in partnership through a local Government approved sponsor that makes financing easy and the solar panels are paid for through your property tax bill.
Because PACE is based on equity and not your personal credit it is like your home is taking out the loan. That means the payment amount or the total balance does not show up on your credit report like a traditional loan. Payments are then collected through your property tax bill.
Using PACE to switch to solar provides you with a trusted, reliable source of financing that will add value to your home for decades to come why lowering your total cost of ownership. When you use PACE with a Vinyasun home solar system your payments are typically less than what you would have paid for energy. This makes switching to solar easy, affordable and cash positive on day one!
PACE Makes Solar Possible for Veterans and Low Income Homeowners
The Obama administration has worked hard to make sure our Veterans and Low Income homeowners have access to clean energy. Now if you have an FHA or VA loan you can now apply for PACE to finance your home solar panels without worry. The Clean Energy Initiative for All makes it certain that Veterans and lower income homeowners like you can afford to switch to solar.
Using a PACE assessment to finance your home solar energy system with Vinyasun is easy. Because PACE is done through Government sponsors and partnerships you will pay nothing out of pocket and be certain that consumer protections are in place to protect you.
The Many Benefits of PACE Financing with Vinyasun home solar.
Property Tax Assessment
Repayment through property taxes
PACE payments are made through a line item on your property tax bill. This means the PACE assessment does not appear on your credit report.
Terms Up to 25 Years
Flexible terms and fixed payments
PACE offers flexible, fixed terms of 5-25 years for home solar panels. You can find a payment that fits your budget.
No impact on your personal credit
PACE is an assessment on your property. It’s like you home is applying for the solar. This means there is no impact on your personal credit score.
No Upfront Costs
Zero, nada, nothing.
The total cost of your home solar system is financed for zero down. This includes all of your permits with your sponsor city, all of the equipment and installation.
Additional Tax Benefits
PACE payments may be tax deductable
The interest on your PACE assessment used to pay for your home solar system may be tax deductible.
Sell your home with ease
Because your PACE assessment is attached to your home, if you sell your home, the remaining balance and payments may be able to transfer to the new owner.
ROI Day 1
PACE and Vinyasun = Lower Energy Cost
With PACE and Vinyasun home solar, most see savings on Day 1. Your annual PACE assessment with incentives can be less than your annual utility bill. Plus no rate increases.
Guaranteed Clean Energy
Always get what you paid for.
When you use PACE and Vinyasun home solar together you get gauranteed energy. Your solar panels are gauranteed to work like promised or we pay you the difference. PACE and Vinyasun is energy you can trust.
Lifetime Warranty and maintenance is included
Your PACE financed Vinyasun home solar system includes warranty and maintenance for a full 20 years. If something breaks, we fix it for you with no cost to you.
Still have questions about PACE?
PACE financing provides the much needed capital for projects that are non-cosmetic and in many cases outlast your time in your home but still provide real value to the next owner.
Unlike other loans, like first and second mortgages, PACE assessments are collected through your property taxes. The FHA, VA and other mortgage lenders have issued guidance that allow the balance and payments to be transferred upon sale of the home without full repayment. Fannie Mae and Freddie Mac have certain exclusions to this condition.
PACE assessments are tied to your property not your personal credit. During the application process you will be asked for your social security number in order to verify that the property taxes and mortgage is in good standing. While PACE is not tied to your FICO score for acceptance there are minimum requirements to ensure a high level of consumer protections. Not everyone will be accepted by PACE.
PACE Financing provides flexible terms. 5, 10, 15, 20 and 25 year terms are available based on the type of project. Solar projects currently qualify for 25 year terms with the nation’s largest providers. Plus when you choose to use PACE with Vinyasun there are never any prepayment penalties. So even if you select 25 years, you can pay it off sooner without any worry and you still get to keep your maintenance and warranty for 20 years.
Because PACE assessments are collected through your property taxes the payments are paid directly to your property tax collector at the end of each collection year. This means you will not be making monthly payments on your PACE assessment and your utility bill will reflect your savings each month. If you have an escrow account, your lender may require that your escrow payment be increased to cover the assessment payment at the end of the year. If you have an FHA or VA loan you may be required to escrow your payment each month.