PACE meaning in Governmental ?

Answer:

What is Property Assessed Clean Energy mean?

PACE financing (property assessed clean energy financing) is a means used in the United States of America of financing energy efficiency upgrades, disaster resiliency improvements, water conservation measures, or renewable energy installations of residential, commercial, and industrial property owners. Depending on state legislation, PACE financing can be used to finance building envelope energy efficiency improvements such as insulation and air sealing, cool roofs, water efficiency products, seismic retrofits, and hurricane preparedness measures. In some states, commercial PACE financing can also fund a portion of new construction projects, as long as the building owner agrees to build the new structure to exceed the local energy code.

The business model of the PACE program has been criticized. Private companies get a lien against a house, and prioritized payback. In addition, private contractors solicit homeowners to sign PACE contracts. As a result, a significant portion of people who sign PACE contracts lose their homes.

Examples of energy efficiency and renewable energy upgrades range from adding more attic insulation to installing rooftop solar panels for residential projects and chillers, boilers, LED lighting and roofing for commercial projects. In areas with PACE legislation in place, governments offer a specific bond to investors or in the case of the open-market model, private lenders provide financing to the building owners to put towards an energy retrofit. The loans are repaid over the selected term (over the course of somewhere between 5 and 25 years) via an annual assessment on their property tax bill. PACE bonds can be issued by municipal financing districts, state agencies or finance companies and the proceeds can be used to retrofit both commercial and residential properties. One of the most notable characteristics of PACE programs is that the loan is attached to the property rather than an individual. A PACE loan is therefore said to be nonrecourse to the borrower.

PACE can also be used to finance leases and power purchase agreements (PPAs). In this structure, the PACE property tax assessment is used to collect a lease payment of services fee. The primary benefit of this approach is that project costs may be lower due to the provider retaining the tax incentives and passing the benefit on to the property owner as a lower lease or services payment.

PACE programs help home and business owners pay for the upfront costs of green initiatives, such as solar panels, which the property owner then pays back by increasing property taxes by a set rate for an agreed-upon term ranging from 5–25 years. This allows property owners to begin saving on energy costs while they are paying for their solar panels. This usually means that property owners have net gains even with increased property tax.

reference

Full Form	Category
Psychology of Abilities, Competencies, and Expertise	Academic & Science
Passion Analysis Center for Education	Academic & Science
Partnership for Academic Competition Excellence	Academic & Science
Professional Administrative and Computational Engineering	Academic & Science
Planners, Architects, and Consulting Engineers	Academic & Science
AmPace Corporation	Business
Partnership for Achieving Construction Excellence	Business
Professional Acivities Committees for Engineers	Business
Professional And Career Education	Business
Providing Advisement for Career Enrichment	Business
Pathways for Academic Career Education	Business
Program to Aid Career Exploration	Business
Pathways to Academic Career Excellence	Business
Program of Alternative Certification for Educators	Business
Providing Access To Capital For Entrepreneurs	Business
Performance And Communication Enterprise	Business
Purpose Audience Capacity Evaluation	Business
Plan Activate Check Enable	Business
Plan, Assign, Control, and Evaluate	Business Management
Process Analytical Control Equipment	Chemistry
Presidents Award For Chapter Excellence	Community
Partnership Action for Continuing Employment	Community
Performing Arts Curriculum Experience	Community
Parents As Career Educators	Community
Parish Adult Christian Education	Community
Packet Of Accelerated Christian Education	Community
Personal Application Of Christian Education	Community
Program Adult College Education	Community
Personal Achievement Citizenship And Effort	Community
Participation Attitude Citizenship And Effort	Community
People Art Culture And Environment	Community
Positive Attitudes Create Enthusiasm	Community
Policy Alternatives Community And Education	Community
Progressive Alliance For Community Empowerment	Community
Professional And Community Engagement	Community
Parker Arts Culture and Events	Community
Parents Association Of Colfax Elementary	Community
Performing Arts Communication Education	Community
Practical Academic Cultural Environment	Community
Parents Advancing Christian Education	Community
Practical Academic and Cultural Education	Community
Professional Achievement For Continuing Education	Community
Processing And Cognitive Education	Community
Possible Answers to Computerized Education	Community
Positive Attitudes Change Everything	Community
Personal And Community Enrichment	Community
Professional Association For Customer Engagement	Community
Parents Advocacy, Coordination, and Education	Community
Positive Attitude Creates Excitement	Community
Promoting A Challenging Education	Community
Pride, Arrogance, Conflict, and Enmity	Community
Positive Approach To Consumer Education	Community
Positive Attitudes Complement Education	Community
Peer Adolescent Conflict Education	Community
Professor And Class Evaluations	Community
Programs Advancing Citizenship Education	Community
Policy Alternatives Community Education	Community
Pacific Alliance For Catholic Education	Community
Parents Active in Cooperative Education	Community
Plano Academic and Creative Education	Community
Pathway to Advance Career Education	Community
Physician Assessment and Clinical Education	Community
Professional Acknowledgment for Continuing Education	Community
Project for Advice, Counselling and Education	Community
Performance Assessment of Competency Education	Community
Pioneer Arts Center Of Easthampton	Community
Plan Activate Check And Enable	Computing
Processing And Control Element	Computing
Priority Access Control Enabled	Computing
Programme for Advanced Continuing Education	Computing
Program for Accelerated College Education	Educational Institute
Program for Adult College Education	Educational Institute
Project for Adult College Education	Educational Institute
Programmable Arcade Circuit Emulator	Electronics
Photographers At the Creative Edge	General
Perpetual Annual Campaign Endowment	General
Positive Action To Conserve The Earth	General
Prayer Activate Commit And Enlist	General
Pagans Against Christianity's Evils	General
Pressure Actuated Casing Exit	General
Personal And Chapter Enrichment	General
Pursuing Academics Creativity And Excellence	General
Program To Achieve Competency And Employability	General
Premier Auto Claims Experience	General
Progression Assertiveness Confidence And Esteem	General
Positive Active Clear And Energetic	General
Prevention And Control Exchange	General
Paralegal Advanced Competency Exam	General
Primary Alternate Contingency and Emergency	General
Playfulness Acceptance Curiosity and Empathy	General
Professional And Caring Environment	General
Performance Agility Club of Edmonton	General
Premier Automotive Supplier's Contribution to Excellence	General
Palo Alto Concours d'Elegance	General
Premium Automotive Concept Esser	General
Pennsylvania Central Miata Club	General
Palmetto Areas Chevelle Enthusiasts	General
Premium Auto Car Expo	General
Performance Automobile Construction Engineers	General
Phage-Assisted Continuous Evolution	General
Partners for A Clean Environment	General
Patient Assessment Command Essentials	General
Primary Alternate Contingent and Emergency	General
Program to Aid Citizen Enterprise	General
Physicians' Academy for Cardiovascular Education	General
Public Access Corporate Enquiry	Governmental
The Police And Criminal Evidence	Governmental
Political Action for Candidate Election	Governmental
Pilot Aircraft Courtesy Evaluation	Governmental
Professional Activities Council For Engineers	Governmental
Philanthropy for Active Civic Engagement	Governmental
Program of All-Inclusive Care for the Elderly	Governmental
Processor Acceleration For Conserving Energy	Governmental
Paper Allied Chemical Energy	Governmental
Process Alignment Courage Energy	Governmental
Property Assessed Clean Energy	Governmental
Patient-centered Assessment and Counseling for Exercise	Governmental
Preparing Alachua County for Emergencies	Governmental
Programmed Activities For Correctional Education	Governmental
Probe Alert Challenge And Emergency	Governmental
Pro Active Criminal Enforcement	Governmental
Police And Criminal Evidence Act of 1984	Governmental
Police and Criminal Evidence	Governmental
Pacific Asian Consortium in Employment	International
Perkins Approved Clear English	International
Parts Accessories and Clothing Expert	Jobs
Post Abortion Counseling And Education	Medical
Processing Acceleration And Cerebral Enhancement	Medical
Pacific Autism Center for Education	Medical
Police and Criminal Evidence Act 1984	Medical
Promoting Action on Clinical Effectiveness	Medical
Property Advisers to the Civil Estate (!)	Medical
Pacing And Clinical Electrophysiology	Medical
Physician Assessment and Clinical Evaluation	Medical
Patient Administrative Cycle Enhancements	Medical
Progressive Accelerating Cardiopulmonary Exertion	Medical
Promoting Aphasics Communicative Effectiveness	Medical
Program Acquisition Cost Estimate	Military and Defence
Parliamentary Assembly of the Council of Europe	Regional
Prelaunch Automatic Checkout Equipment	Space Science
Physical Activity Challenge for Everyone	Sports
Philadelphia Automated Communication and Execution System	Stock Exchange