Austin Energy has teamed up with the Texas PACE (Property Assessed Clean Energy) Authority to assist Multifamily Property owners install energy upgrades including HVAC and envelope improvements using a combination of Austin Energy incentives and PACE financing.
The packaged offering combines attractive financing with Austin Energy rebate incentives to perform comprehensive, long-term energy improvements. The benefits are reduced maintenance costs, increased equipment reliability, and energy savings for both the property owner and the residents.
About PACE Financing
The Texas PACE program enables multifamily property owners to obtain affordable, long-term financing covering up to 100% of the cost for energy efficiency, water conservation, and onsite generation technologies.
PACE secures private financing for a term equal to the projected useful life of the improvements, typically 10-20 years, resulting in utility cost savings that exceed the amount of the repayment.
You can modernize your facility without fear of over-investment, knowing that if you sell the facility, the PACE loan repayment obligation transfers with the property to the new owner.
Covered improvements include:
- HVAC modification or replacement
- Light fixture modifications such as LED
- Solar panels
- High-efficiency windows or doors
- Automated energy control systems
- Insulation, caulking, weather-stripping or air sealing
- Water use efficiency improvements
- Austin Energy electric customer located in Hays, Travis, or Williamson County
- Project savings exceed loan payments
- Loan term not to exceed useful life of projects
- Primary lien holder allows PACE loan to supersede
Contact the Austin Energy Multifamily Rebate Program to learn now to make PACE financing work for you.