PACE is an acronym for Property Assessed Clean Energy. PACE allows local governments to offer bonds, the money from which is used as loans for energy retrofits to commercial and residential property. When a consumer takes out a PACE loan for an energy retrofit to their house, the loan is not attached to the house, as a traditional loan might be, but is rather attached to the property.
Assembly Bill 811 designates zones in which property owner can take out a loan for the retrofit. In essence, AB811 allows people in certain areas to enter into the PACE program.
For more information, check out http://www.pacenow.org, pacefinancing.org, and info.sen.ca.gov/pub/07-08/bill/asm/ab_0801-0850/ab_811_bill_20080721_chaptered.pdf
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