Property Assessed Clean Energy (PACE) is an innovative model for financing energy efficiency, renewable energy, or water conservation projects in commercial and residential properties. Since its inception in 2007, PACE has provided nearly $6 billion in project financing across the U.S. This case study describes how Minnesota put in place an effective PACE financing mechanism and has leveraged $40 million in energy efficiency and renewable energy investment through a variety of partnerships within and across government agencies.
This resource is part of the City Energy Project Resource Library. Launched in 2019, the library is the culmination of 6+ years of work on the ground in 20 U.S. cities to reduce energy use in large buildings. The City Energy Project is a joint project of IMT and the Natural Resources Defense Council (NRDC). For more information, visit www.cityenergyproject.org.
