Illinois PACE efforts gain traction as first deal closes – The Bond Buyer

The state’s goal of offering commercial Property Assessed Clean Energy program financing as an affordable alternative for energy efficiency, renewable energy, water conservation, resiliency improvements and other green projects initially fell short, spurring additional legislative changes. The bonds are repaid with local real estate taxes and assessment payments agreed to the property owner and amortized over the useful life of the project that ranges from five to 30 years.