Florida is one of just a few US states with an established and approved PACE loan program. Such investments are different from a traditional loan, as they are being paid back by raising the property tax.
And what makes loans from PACE even more special is that they are linked to the land, not the proprietors. So if you decide to move, you avoid paying the debt, and the next owner of the property can continue paying by the increased cost of property tax.
This is a perfect option for people who want to go solar but don’t know how long they’re going to be living in their house.
Renew Financial and YGRENE Works now have PACE solar loans available for residential and commercial use.
SELF is an accredited, non-profit Community Development Financial Institution offering unsecured personal loans for affordable home improvements to those in underserved communities. SELF’s Clean Energy Loan, typically provided for residential solar projects, is a 3-to7-year unsecured loan of 5% to 9.75%.
PACE grants for St. Lucie County are also handled by SELF.