Local Option - Property-Assessed Clean Energy Financing
Program details
- Program ID
- 5869
- Last updated
- 12/27/2023
Eligibility
- Sectors
- commercial industrial local government residential federal government multifamily residential
- Technologies
- solar - passive solar water heat solar space heat geothermal electric solar thermal electric solar thermal process heat solar photovoltaics wind (all) biomass geothermal heat pumps combined heat & power landfill gas daylighting solar pool heating wind (small) geothermal direct-use anaerobic digestion fuel cells using renewable fuels other distributed generation technologies lighting lighting controls/sensors heat pumps air conditioners heat recovery energy mgmt. systems/building controls caulking/weather-stripping duct/air sealing building insulation windows doors yes; specific technologies not identified insulation reflective roofs led lighting
Program summary
In 2010, the Federal Housing Finance Agency (FHFA), which has authority over mortgage underwriters Fannie Mae and Freddie Mac, directed these enterprises against purchasing mortgages of homes with a PACE lien due to its senior status above a mortgage. Most residential PACE activities subsided following this directive; however, some residential PACE programs are now operating with loan loss reserve funds, appropriate disclosures, or other protections meant to address FHFA's concerns. Commercial PACE programs were not directly affected by FHFA’s actions, as Fannie Mae and Freddie Mac do not underwrite commercial mortgages. Visit PACENation.org for more information about PACE financing and a comprehensive list of all PACE programs across the country.
The Property Assessed Clean Energy Act was signed on April 13, 2016. This law allows municipalities to create clean energy assessment districts. Municipalities that create such districts may enter into contracts with qualifying property owners and (if participating) third-party financiers to provide financing for energy efficiency and renewable energy projects on the qualifying property. The projects are paid back through assessments on the owner's property taxes.
Check with your local Nebraska Municipality to see if PACE financing is available.
Contact & resources
- Contact email
- energy@nebraska.gov
Please verify current program details with the administering agency before making any financial decisions.
