We’re Here to Help
Usurp Power is more than a marketplace. We’re changing the way small businesses access clean energy and power their profits. And we want you to be confident in your investment. So, whether you’re new to Property Assessed Clean Energy (PACE) financing or simply want to learn more, our resources and tools below can help.
PACE provides long-term financing for qualifying construction and renovations that improve the environmental footprint of property to save you money on utility bills with no money down. You repay funds to private lenders as a semi-annual voluntary tax, the first voluntary property tax assessment in the U.S. By using voluntary property taxes to repay funds, you and other small businesses get access to the same financing terms that large corporations benefit from, ensuring that your projects produce positive cash flow in year 1. This frees you up to spend your capital on other investment opportunities, such as opening that next location or hiring more staff.
i Cost alignment with tenants
Addressing what is referred to as "split-incentive," PACE ensures that constructions costs and utility savings are joined to a single party.
i Cash flow positive year 1
PACE laws often mandate that utility savings must be greater than project costs, so most PACE projects result in net cash savings every year.
i Owner keeps incentives
Many projects qualify for government subsidies and incentives. Unlike some financing options, PACE allows you keep these incentives.
i Balance sheet neutral
PACE is collected as a property tax, so it sits with your property not with your business; and is usually not treated as a debt liability.
i No acceleration upon default
Unlike a loan, PACE does not come due in full in the event of a default
i Can be terminated upon request
You can prepay PACE at anytime; and the associated fees are usually less than the fees of other financing options.
i Transferable on sale
If you want to sell your property, but you don’t want to pay off the PACE, PACE will stay with the property and transfer to the new owner.
i No pre-pmt of first mortgage
You rarely need to pay down existing debt. PACE lenders only require that the property value be at least 5 times the cost of the project or financing
i Preserve borrowing capacity
Because PACE is Balance Sheet Neutral, you will have more options to invest into your business and take a loan in the future.
i Preserve internal capital
Financing projects instead of paying with earned equity or saved profits, means you can use that equity capital for investments with higher returns.
i Nonrecourse, no personal guarantee
PACE is always noncourse with no personal guarantee required, so there's less of a risk to you and your business.
i Typical terms in years
Only PACE can go up to 30 years. That means your payments will be less. But, if you prefer a shorter term, PACE will also work.
PACE in 90 seconds
Hear From Real People
Supported by political leaders from more than 30 states, PACE has been used to create over 50,000 jobs, save 32 million metric tons of carbon (the equivalent of 8 coal fired power plants), and help over 200,000 thousand Americans fund more than $5 billion in construction and renovation projects.
Project Cost: $230,000
Income after cost: $11,100
Right Proper Brewery produces craft beer for some of the top restaurants and bars in the region. Located in an old warehouse, the brewery installed a new rooftop, a 56-kW rooftop solar PV system, and a 7-kW solar parking canopy with PACE financing.
Project Cost: $396,000
Income after cost: $22,000
Annie’s ACE Hardware, a local fixture in Washington, D.C.’s Brookland neighborhood, used PACE to finance interior and exterior LED lighting, envelope improvements, a VRF system, and low-flow bathroom fixtures.
Project Cost: $530,000
Lifetime savings: $121,900
Brittany Apartments is owned by a third-generation, family-owned real estate company. The apartment complex used PACE to upgrade its hot water boilers, hot water heaters, storage tanks, and distribution pumps.
Project Cost: $25,000,000
Lifetime savings: over $25MM
The new DC United stadium wanted to implement money-saving green measures, which included an 884-kW solar system, high efficiency HVAC systems, LED field lighting, insulation, site stormwater conservation, a green roof, and low-flow fixtures.
Project Cost: $700,000
Income after Cost: $7,000
The Phyllis Wheatley YWCA provides 84 rental units to low-income women and was in urgent need of upgrades, including new appliances, new water fixtures, heating systems, lighting system, HVAC system, and solar.
Project Cost: $2,200,000
Lifetime savings: $2,500,000
The Headquarters of the FSFSC worked with the DC PACE program to finance HVAC, windows, lighting, and new kitchen equipment as part of a gut rehab, allowing it to attract new tenants.
Commercial PACE for Affordable Multifamily Housing
Energy Efficiency for All, NRDC & VEIC
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SEIA and Alta Energy
Morningstar: Clearing the Air – Addressing misconceptions about PACE
Morningstar ABS Research
How to qualify for PACE?
What can PACE fund?
What is PACE?
Who is using PACE?
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An innovation is quietly taking hold and it is on track to make today’s environmental design best practices the status quo before the end of the decade. Already, many of the nation’s largest property owners are using it to retrofit entire portfolios, while major developers are including it in all new construction. Universities are promoting it; think tanks are validating it; and business magazines singing its praises. Available in over 37 states, it can be used to replace old appliances just as easily as it can be used to install rooftop solar. It’s called Property Assessed Clean Energy, or PACE; and while you’ve probably seen it in the headlines, chances are that it’s not what you think it is.read more
Picture an office that cleans up after itself, improves indoor air quality with nanotech-formulated paint, and responds to sunlight by magically adjusting window tint, all while fighting climate change. Then imagine entering your workspace to find your desk light on and the temperature just as you like it. Though it may sound like a scene from a fictional sci-fi movie, these innovations are already at work in some modern buildings, in the form of a networked ecosystem of “intelligent” building equipment and devices.read more
Commercial PACE funds are lent to borrowers to finance construction projects that improve the operational quality of a property; they are funded by private investors and banks; they give borrowers the option to take long repayment terms, up to 25 years; and they come with unique tax advantages that often make them the cheapest capital option available. However, Commercial PACE is only available through government-sponsored programs. The rules of each program vary by state. Therefore, the application process can be very different from a traditional loan from a bank.read more