PACE is 100% financing for energy and water efficiency improvements to commercial buildings. PACE is essentially a long-term (typically 10-20 year), low-cost loan for such improvements as:
- HVAC modification or replacement
- Light fixture modifications such as LED
- Solar panels
- High-efficiency windows or doors
- Automated energy control systems
- Insulation, caulking, weather-stripping or air sealing
- Water use efficiency improvements
- Energy- or water-efficient manufacturing processes and/or equipment
- Solar hot water
- Gray water reuse
- Rainwater collection system
The Texas PACE Authority has partnered with the US Green Building Council in providing a list of PACE Service Providers, which may be found by clicking here:
DISCLAIMER: Texas PACE Authority neither endorses nor recommends any particular service providers, including those found in the USGBC Directory. If you are a service provider and would like to be included in this directory, please contact USGBC.
No. The Texas PACE statute does not allow PACE for new construction. PACE projects must be associated with existing buildings only.
PACE in Texas is open-market, and consequently a wide range of parties can make PACE loans. Eligible third-party lenders may include:
- Any federally insured depository institution such as a bank, savings bank, savings and loan association and federal or state credit union;
- Any insurance company authorized to conduct business in one or more states;
- Any registered investment company, registered business development company, or a Small Business Administration small business investment company;
- Any publicly traded entity; or
- Any private entity that:
- Has a minimum net worth of $5 million;
- Has at least three years’ experience in business or industrial lending or commercial real estate lending (including multifamily lending), or has a lending officer that has at least three years’ experience in business or industrial lending or commercial real estate lending; and
- Can provide independent certification as to availability of funds.
All lenders must have the ability to carry out, either directly or through a servicer, the bookkeeping and customer service work necessary to manage the assessment accounts.
Note that the Texas PACE Authority neither recommends nor endorses any particular PACE Service providers. This directory is provided solely for convenience in consolidating a list of PACE service providers. If you would like to be listed as a PACE lender, please contact Texas PACE Authority
If you have an existing mortgage on your property, your current lender will have to consent to allowing a PACE assessment on the property. While this can at first sound tricky, with a little leg-work you should be able to obtain it. First, we will help you prepare your case. In addition some resources you may find useful are below:
Nationally, dozens of banks have consented to PACE assessments:
An overview of why a lender would consent:
The good news is Texas PACE Authority and your PACE lender will help you with this.
Multi-Family Residential Property
Residential real property with five or more dwelling units.