Innovative Clean Energy Financing Program Available to Margate Homeowners
The Margate City Commission unanimously voted in favor of supporting Property Assessed Clean Energy (PACE) programs that would assist Margate property owners with financing for energy efficiency and renewable energy upgrades to their homes. PACE programs allow a property owner to make certain improvements to their property and finance the costs by placing them on the property tax roll as a special assessment for that property. The property owner then pays off the special assessment over time, together with the property taxes.
PACE programs allow property owners the opportunity to make improvements such as replacing an old roof, installing solar panels, installing tankless water heaters, installing wind proof windows or making any other storm safety repairs or improvements to their homes without having to pay for the repairs up-front. PACE financing helps property owners overcome the barrier of high up-front costs, and thus encourage the installation of renewable-energy equipment and other improvements that would increase energy efficiency.
The three financing agencies available to homeowners in Margate are:
Ygrene Energy Fund
Phone: (305) 569-0015
Florida PACE Funding Agency
Phone: 1 (866) 558-3180
Florida Green Energy Works Program
Phone: (855) FL-WORKS / (855) 359-6757
Not only will these companies provide the financing, they will also do the work.
For information about the City's participation, please contact Aaron Tauber, Sustainability Coordinator, at (954) 972-0828..