Residential Property Assessed Clean Energy, or R-PACE, is a voluntary program that allows homeowners to invest in money-saving clean energy improvements to their properties through a loan which is repaid through an assessment on property tax bills.
Grandview Heights City Council approved legislation in March 2020 to participate in the Columbus Regional Energy Special Improvement District (ESID), thereby authorizing residential properties in Grandview Heights to be eligible for this program. The program Grandview Heights property owners are eligible to participate in is administered by the Toledo-Lucas County Port Authority.
How Does R-PACE Benefit Me?
If your PACE-eligible project is approved, the costs of your clean energy project are covered with zero upfront cost to you. You’ll simply have to pay the loan back through an assessment to your annual property taxes.
Loans through the PACE program also generally have long payback periods. And, depending on the specifics of your project, the energy savings you’ll see immediately will often be greater than the assessment on your property tax bill—so, many PACE participants will save money immediately.
Does My Project Qualify?
Depending on whether your project is residential, commercial, or industrial, the following may qualify as eligible improvements:
- Solar, Geothermal and Wind Systems
- HVAC, Boilers and Chillers
- Building Envelope (roofing, windows, etc.)
- Lighting and Building Controls
- Energy Management and Control Systems
- Electrical Distribution
- Power Generation
- Compressors, Motors and Drives
- Waste Energy Recovery
- Combined Heat/Power Systems
How Do I Get Started?
For your project to be considered, a petition, a supplemental plan, a schedule of assessments to be levied against the property, and a description of the proposed energy improvements to be installed must be submitted. A qualified contractor who is familiar with PACE should be able to help you develop the project and the necessary documentation.
Please visit the Toledo-Lucas County Port Authority website for more information and to submit the necessary documentation.
What if I own a business?