Property Assessed Clean Energy (PACE)

Wakefield has adopted PACE Massachusetts. Property Assessed Clean Energy (PACE) Massachusetts is a program to help commercial and industrial property owners in Massachusetts finance energy improvements.

The program lets property owners agree to a betterment assessment and lien on their properties, sufficient to repay the financing extended by a private capital provider. If the property is sold before the financing has been repaid, the assessment stays and is transferred to subsequent property owners.

Owners of commercial and industrial buildings, owners of multifamily properties with five-plus units, and nonprofit organizations that own buildings are eligible.

What projects qualify?

PACE can be used to finance energy efficiency and renewable energy improvements such as boilers and furnaces, chillers, motors and drivers, lighting, solar panels, insulation, air sealing, geothermal, solar hot water, energy management systems, energy recovery, and redistribution systems.

Applying for the Program

Interested in accessing PACE Massachusetts? Connect with Erin Kokinda, Wakefield's Community and Economic Development Director, at 781-246-6397 or via email at EKokinda@wakefield.ma.us.

Take a moment to review the guidelines and contact MassDevelopment staff to discuss any potential financing before submitting an application. Email pace@massdevelopment.com with any questions and learn more about the program on the Mass Development site.