PACE Financing in Florida Now Available! No Money Out of pocket!

PACE Financing in Florida Now Available! No Money Out of Pocket!

June 17th, 2020 in Installation, Tips
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Florida Power Services “The Solar Power Company” is delighted to announce that PACE financing is now available, allowing property owners without big budgets to install solar systems. If you’ve always wanted to go solar but couldn’t afford the upfront costs, then PACE Financing in Florida is the answer you’ve been waiting for!

No Upfront Costs. No Credit Checks. Instant Clean Energy.

What Is PACE Financing for Solar Power?

PACE Financing (Property Assessed Clean Energy Financing) is a financing model that allows property owners who wouldn’t usually be able to afford solar systems, to fund the costs of installation. The property owner is given the funds to cover expenses, which must be repaid over time through their property taxes.

Is PACE Financing a Loan?

No. Despite the similarities, PACE financing is not considered a loan as it is repaid through property taxes. This classifies it as a property assessment, not a loan.

What Can Pace Financing in Florida Fund?

PACE financing is designed to fund renewable energy, energy efficiency, water conservation and natural disaster protection. In the world of solar power, PACE financing can support:

  • Solar P.V. Systems and Solar Panels
  • Solar Water Heating
  • Solar Battery Banks
  • Solar Retrofits

How Does PACE Financing Work?

The process for PACE financing in Florida to install a solar systems is:

  • The PACE program is made possible by the State of Florida for local communities to implement as they wish. 60 cities are currently eligible for PACE financing in Florida.
  • Local communities make funds available to investors usually through the sale of municipal bonds.
  • An authorized PACE lender provides the funds to you (the property owner) to install a solar power system on your property.
  • Property owners repay the funds through an assessment attached to their annual property tax bill over the next 10-30 years.

The Benefits of PACE Financing in Florida

No Credit Checks.

PACE Financing in Florida can be perfect for anyone with bad credit. No credit checks are required. Unlike loans, mortgages or other financing options, your credit does not affect PACE financing. This provides all property owners the chance to upgrade to solar in Florida.

No Upfront Costs

PACE Financing levels the playing field, allowing those without big budgets to invest in clean, solar energy. PACE enables you to install a fully functional solar system in your home, without paying the upfront costs—instant clean energy and energy bill savings.

  • No Upfront Costs
  • Low-Interest Rates
  • Fixed Rates
  • Spread the costs over time (10-30 years)

Financing Is Tied to Your Property, Not Yourself

PACE Financing in Florida is not a personal debt. So if you decide to move and sell your property in the future, the “loan” stays with the property – not you. This is perfect for anyone unsure about their future but still wants solar energy.

Increase Your Property Value

With high-quality solar panels attached to the roof, your property will sell for more. In our experience, solar systems can boost property value by 5-figure values. That’s a lot more money for you, considering you never paid upfront!

PACE for Commercial Properties

Commercial property owners may be eligible for PACE Financing in Florida. We’ve seen a wide range of commercial property types receive PACE funding, including retail, offices, hospitality, industrial, churches and non-profit. This is a perfect opportunity to install commercial solar panels at your place of business.

Am I Eligible for PACE Financing in Florida?

PACE financing eligibility is determined by several criteria, including:

  • Applicants must be the legal owner of the property.
  • The property owner must have a good record of property tax payments.
  • The property cannot be subject to bankruptcy.
  • The property owner must not have a record of bankruptcy within the previous five years.
  • Investments must be above $2,500.

Is PACE Financing in Florida Right for Me?

You might still be wondering whether you and your property are suitable for PACE Financing in Florida. We advise you always to do your homework:

  • Make sure you understand what you’re signing up for.
  • Only use a reputable and certified solar contractor.
  • Know the interest rates, project costs, fees and payment terms.
  • Ensure you can pay for the increase in property tax.

If you’re interested or have any questions, then contact us today. We’ll help determine your eligibility for PACE financing and see how much money solar can help you save.

2020 – The Time to Act is Now!

2020 is the final year you can get a massive 26% reduction on Solar Installations in Florida, as Federal Tax Credit reductions drop to 0% over the next two years.

As an example, if your solar power installation in Florida costs $10,000, you can receive Solar Tax Credits of $2600 in 2020. Don’t miss out on this great opportunity.

Don’t Let COVID-19 Delay Your Installation into 2021

Solar Panel manufacturers across the world are facing huge shortages due to COVID-19. That’s caused a supply chain issue for solar power installers across Florida and the U.S.

Permitting, supply chain issues, construction and utility interconnection could easily be pushed past 2020 cut off date and cost you thousands of dollars. If you wait until the end of the year, it could be too late to receive those fantastic 26% reductions.

All signs suggest 2020 solar installation prices are the most affordable they will be for decades. Don’t miss out. The time to act is now!

Am I Eligible for 2020’s Solar Tax Credits?

This year we’ve helped many new solar energy customers save thousands of dollars. If you’re wondering if you’re eligible for the tax credits check below:

Residential Solar Saving Requirements

  • The solar installation MUST start in 2020 and be providing energy for your home.
  • You must be the property owner, not a tenant.
  • You must own the solar panels, not be leasing them (With PACE, you’re the owner).
  • All electrical and fire code requirements must be met.
  • A solar system purchased with loans or PACE Financing is eligible.

Commercial Solar Saving Requirements:

  • The solar installation MUST begin in 2020 and be providing energy for your property.
  • The solar system must be used by someone that is paying U.S. income taxes.
  • The above does not apply to schools, charities, churches and other tax-exempt organizations.
  • The solar energy generated cannot be used to heat a pool.
  • Tax credits are eligible with PACE financing.

PACE Financing in Florida for Solar Power

PACE Financing in Florida has opened the door for all to receive solar power. As the leading solar installer in Florida, we can guide you through the application process before installing a solar power system that saves you thousands of dollars. Remember, 2020 is the time to act!

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