Innovative home and 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.
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:
Two-Step Innovation that Makes Renovation Easy
A Demand-driven Approach
Benefits of EuroPACE
EuroPACE offers local residents an opportunity to use an innovative financing instrument to upgrade their properties.
an instrument for economic development and job creation
a secure scalable product and a source of green bonds
Homeowners & Commercial Clients
a 100% financing linked to the property
Energy Services Professionals
a financing tool that help win a bigger job
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.
Assessing Market Readiness
Deploying EuroPACE in Spain
Scaling Across Europe
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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.