MPOWER - Pace
PACE IS BACK FOR RESIDENTIAL
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Guidelines
There are no credit checks although property ownership must be in good standing. See Brochure
Requirements
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Save Money · Conserve Energy · Create Jobs
MPOWER Placer is a countywide program to promote more efficient use of water and energy, enable property owners to reduce energy costs, and strengthen our local economy through job creation.
Now, more than ever, residential and non-residential property owners are looking for ways to save money on their energy bills; reduce their impact on the environment; and stimulate the local economy. With the help of MPOWER Placer (Money for Property Owner Water and Energy efficiency Retrofitting), that goal couldn't be easier. MPOWER Placer will finance energy efficiency improvements and energy generation systems such as solar photovoltaic to qualified Placer County property owners, with no upfront costs.
Terms*: The minimum amount that can be financed is $2,500
The financing can be repaid over 5, 10, 15, or 20 years or less and is based on the useful life of the improvement(s). Multiple improvements may have varied payback periods – blended/step-down payback periods
Current interest rate is 6% (simple interest) and the financed amount is amortized.
A prepayment premium applies. (Prepayment Premium Schedule)
Lien may stay with property after sale to any subsequent owner
There are no credit checks although property ownership must be in good standing. See Brochure
Requirements
- Must be in Place County Current on Mortgage
- No notice of default in the last 5 years
- No record of bankruptcy in the last 7 years
- Property cannot have any involuntary liens
Video on MPower
Save Money · Conserve Energy · Create Jobs
MPOWER Placer is a countywide program to promote more efficient use of water and energy, enable property owners to reduce energy costs, and strengthen our local economy through job creation.
Now, more than ever, residential and non-residential property owners are looking for ways to save money on their energy bills; reduce their impact on the environment; and stimulate the local economy. With the help of MPOWER Placer (Money for Property Owner Water and Energy efficiency Retrofitting), that goal couldn't be easier. MPOWER Placer will finance energy efficiency improvements and energy generation systems such as solar photovoltaic to qualified Placer County property owners, with no upfront costs.
Terms*: The minimum amount that can be financed is $2,500
The financing can be repaid over 5, 10, 15, or 20 years or less and is based on the useful life of the improvement(s). Multiple improvements may have varied payback periods – blended/step-down payback periods
Current interest rate is 6% (simple interest) and the financed amount is amortized.
A prepayment premium applies. (Prepayment Premium Schedule)
Lien may stay with property after sale to any subsequent owner
Here’s what you will need to submit a complete application:
Application
Organizational documents if the property owner is not on title as an individual, i.e., Trust Documents showing the ‘powers of the trustee’ to encumber the property.
Current mortgage statements or other evidence that mortgages or any other loans secured by the property are current, including equity loans and open equity lines of credit even if balance is zero or line of credit is unused.
Our estimate.
Previous twelve months of energy use
Energy audit report for non-residential properties