Pace Avenue is a one-stop shop for homeowners looking to invest in smart home improvements that reduce their energy and water consumption, connecting them with innovative financing solutions and verified contractors. In 2017, the company was awarded a $1.5M U.S. Department of Energy Sunshot Grant to continue developing technology to drive adoption of solar and energy-efficiency in under-served communities.
Pace Avenue primarily focuses on the emergence of PACE Financing, a new consumer financing product made available by local municipalities in an effort to reduce energy and water consumption, improve property values and create local construction jobs. The program allows homeowners to pay back the upfront costs of renewable energy, energy efficiency and water efficiency home improvements through assessments added to their property tax bill, instead of a taking out a costly private loan.
Pace Avenue is founded by experienced entrepreneurs who have spent the greater part of the past decade building companies that focused on innovative financing solutions for the solar industry.