Description

Property-Assessed Clean Energy (PACE) financing effectively allows property owners to borrow money to pay for energy improvements. The amount borrowed is typically repaid via a special assessment on the property over a period of years. The Missouri legislature enacted the "Property Assessed Clean Energy Act" in July 2010. The act allows municipalities to create Clean Energy Development Boards, which are permitted to develop a local PACE program.

In January 2011, Jefferson City became the first city in Missouri to adopt the PACE ordinance. The program provides 100% of up-front costs for energy efficiency and renewable energy projects for residential and business properties. Jefferson City joined the Mid Missouri Clean Energy Development Board for the administration of their program.