The property assessed clean energy (PACE) model is a mechanism for financing energy efficiency and renewable energy improvements on private property.
PACE programs allow a property owner to finance the up-front cost of energy or other eligible improvements on a property and then pay the costs back over time through a voluntary assessment. PACE is intended to encourage and support the use of energy efficiency and water conservation measures and reductions in energy and water usage by commercial property owners.
PACE loans are repaid in the form of a special assessment on the improved property and the annual assessment is billed to the property owner in the same manner as property taxes.
Beatrice Clean Energy Assessment District (BCEAD)
Nebraska State Law allows for the creation of Clean Energy Districts and defines PACE-eligible projects. A City ordinance created the Beatrice Clean Energy Assessment District (BCEAD) and provides further requirements for implementation of a PACE program in Beatrice. The program manual below describes the application process, eligibility requirements, and provides further information on the City of Beatrice’s PACE program.