Annapolis PACE Program
Congratulations, Annapolis property owners! You live in a city that supports easy energy efficiency and solar financing.
How does Annapolis’s energy improvement financing program work?
The Annapolis EZ|Energy Zone program allows residential and commercial property owners to pay for solar panels and energy efficiency equipment—such as home heating, cooling, insulation, improved ductwork, geothermal, etc.—through a Carbon Reduction Energy Fee. The financing carries a fixed interest rate and stays with the property—so if you sell the property, the next owner continues to pay for the loan through the City Fee. Also, this program allows financing that does not affect your credit score. Best of all, the program makes it easy for you to reduce your energy bill by supporting you through the entire process of energy audits, choosing the right contractors and helping you benefit from the tax incentives on all levels of government.
That sounds great! How is Annapolis able to do this?
The city is partnering with a number of organizations to make the program work, including local banks. Annapolis is the first U.S. city to pass legislation for financing that includes energy conservation solutions (i.e. sealing air leaks) in addition to renewable energy installations (solar)—using only private financing.
Is the Annapolis EZ|Energy Zone program available now?
The program is being launched in June, 2009 as a pilot program with approximately 50 projects. The program is expected to expand to other cities in Maryland and surrounding states shortly after the launch in Annapolis.
What if I move?
The financing stays with the property—so if you move, the next tenant continues to pay for the loan through property taxes, and you’re not stuck with the bill.