• What is EuroPACE?

  • Innovative building improvement platform

    The concept of EuroPACE is inspired by the success of an on-tax financing model called PACE, launched in California in 2008. In the US, in the past four years, the PACE market reached over $4.7 billion in funded projects, including the retrofit of over 200,000 homes, which resulted in more than 42,000 new local jobs and the creation of hundreds new companies.

     

    PACE can be used to pay for energy efficiency, renewable energy, and water conservation upgrades to homes and buildings. PACE financing covers up to 100% of a project’s costs and is repaid as a special assessment added to a property tax bill over a term of up to 20 years. EuroPACE adopts best practices from the US PACE market and intends to further enhance its reach, scope, and overall impact well beyond the American experience.

    PACE + Europe = EuroPACE

    New Financing for a New Era in Combating Climate-Change

    EuroPACE is uniquely positioned to boost energy efficiency investment in existing buildings, ranging from homes to offices, hotels, multi-family and mixed-use properties.

     

    The impact of EuroPACE platform goes far beyond energy savings and each Euro invested in building renovations results in societal and economic benefits, including job creation and climate change abatement.

     

    EuroPACE contributes to the creation of resilient and vibrant communities that enjoy economic growth and healthy environments.

    On-Tax Financing

    Payments Are Collected Using Existing Tax Mechanisms

    On-tax financing is a type of financing mechanism used to collect the repayment for money that was lent for investments in building improvements that meet a ‘valid public purpose’, e.g. save or produce energy.

     

    Typically, investors lend money for deep retrofits up-front and then get repaid regularly through an additional charge on a tax bill. EuroPACE is a form of on-tax financing and it builds upon an existing relationship municipalities have with their citizens – the property tax system.

  • Why is EuroPACE Unique?

    Because we focus on Customers. EuroPACE is More than Financing; it Serves Homeowners and Supports Communities by Answering 3 Key Questions:

    1

    What

    Identifying and selecting which energy efficiency improvements to make, and when.

    2

    Who

    Assisting in finding contractors who will finish the job well, on time and within budget.

    3

    How

    Delivering transparent, easy and secure long-term financing.

  • Two-Step Innovation that Makes Renovation Easy

    A Demand-driven Approach

    Innovative Financing

    • 100% up-front financing
    • Long-term financing, up to 20 years
    • Can be combined with utility, local, regional, and state incentive programs
    • Financing is attached to the property – can be transferred to a new owner upon sale
    • Financing is repaid with regular property taxes

    People-Centric Deployment

    • Simple and clear value proposition that speaks directly to people’s needs
    • Local energy services contractors function as sales force
    • Digital platform allows for quick and easy approvals
    • Technical and customer assistance is provided throughout the process
    • Comprehensive consumer protection policies
  • Benefits of EuroPACE

    EuroPACE offers local residents an opportunity to use an innovative financing instrument to upgrade their properties.

    Local Governments

    an instrument for economic development and job creation​

    • Achieving local policy goals with no additional public debt
    • Creating local jobs and increasing demand for skilled building professionals
    • Helping fight "energy poverty" by lowering energy bills for the vulnerable populations

     

    Investors​

    a secure scalable product and a source of green bonds​

    • Secure repayment stream
    • Familiar property tax structure
    • Source of Asset-Backed Green Bonds

     

    Homeowners & Commercial Clients

    a 100% financing linked to the property

    • 100% up-front financing, repaid over 20 years, making long-term payback projects possible
    • Results in improved comfort and lowered utility bills
    • Customer-Centeric Consumer Protection Policies

     

    Energy Services Professionals

    a financing tool that help win a bigger job

    • Empowers contractors to complete larger projects with longer payback period
    • Training programs that open new opportunities for skilled and unskilled labor force

     

  • More About PACE

    We invite you to visit the PACENation website and to view the videos below.

    What is PACE Financing?

    Benefits of PACE for Property Owners

    Leaders Talk About PACE

  • EuroPACE Project: Our Three Year Plan

    Initial Focus on Existing Residential Buildings. Pilot City to Standardize Implementation. Create Toolkit, Replicate and Scale Across Europe.

    1

    Assessing Market Readiness

    • Conduct market review to determine viability and attractiveness of EuroPACE financing across Europe.
    2

    Deploying EuroPACE in Spain

    • Design and run the first residential EuroPACE pilot in Olot (Catalunya, Spain).
    3

    Scaling Across Europe

    • Facilitate and support 4 Leader Cities willing to set up EuroPACE platforms.
  • EuroPACE Partners

    A consortium formed by 8 members from 4 European countries with all the required expertise to deliver a successful implementation of EuroPACE.

  • Join EuroPACE Community Today!

    Receive regular updates about EuroPACE.

  • Contact EuroPACE

    Please fill out the form below and we will get back to you.

  • The EuroPACE Project received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreement No 785057. The sole responsibility for the content of this website lies with its authors and does not necessarily reflect the opinion of the European Union. Neither the EASME nor the European Commission are responsible for any use that may be made of the information contained therein.

    ×
    EuroPACE will not use cookies to collect personally identifiable information about you. However, if you wish to restrict or block the cookies which are set by this website, or indeed any other website, you can do this through your browser settings. The ‘help’ function within your browser should tell you how.
    
    EuroPACE respects your privacy and takes necessary steps to protect the information collected through www.europace2020.eu