MD-PACE is a statewide partnership between PACE Financial Servicing and the Maryland Clean Energy Center to build a statewide commercial Property Assessed Clean Energy (C-PACE) program.
MD-PACE is built upon three principles:
Keep It Low Cost & Simple
Establish clear, concise guidelines and transparent processes without high fees
Keep It Open
Catalyze innovation and promote growth through open-market administration
Keep It Standard
Enable scale by implementing ones set of rules for capital providers and contractors
Maryland passed policy enabling Commercial PACE (C-PACE) to work in 2014. Since property taxes are collected at the county level, the law requires that local ordinances also be passed to take advantage of C-PACE financing. The MD-PACE program allows counties in Maryland to join a statewide, standard C-PACE program at no cost.
The MD-PACE program provides a turnkey, standard, open-market statewide program for C-PACE at no cost to counties. A major benefit to having a statewide administrator is that it allows participants in the C-PACE market to adhere to a standardized set of rules across county lines, and enables scale.
PFS works with the county to pass their ordinance, intake and approve PACE projects, train local contractors and capital providers, establish procedures to place C-PACE surcharges and facilitate collections, and remit payment to capital providers.
The Maryland Clean Energy Center (MCEC) is an instrumentality of the state created with an economic development mission. The mission of MCEC is to advance the adoption of clean energy solutions along with energy efficiency products, services and technologies to help create jobs. MCEC works to leverage private sector investment to implement public sector energy goals to enable homeowners and businesses as well as institutional and municipal consumers reduce their energy costs.
The Mid-Atlantic PACE Alliance (MAPA) is a partnership between stakeholders in Virginia, Maryland, and the District of Columbia to accelerate the implementation of Commercial PACE programs and projects in the region. MAPA is a collaboration between the Virginia Department of Mines, Minerals, and Energy (DMME), the District of Columbia Department of Energy and Environment (DOEE), the Maryland Clean Energy Center (MCEC), and other industry and non-for-profit partners.
PACE Financial Servicing, LLC (PFS) has been selected by the Maryland Clean Energy Center to administer the statewide MD-PACE program. The role of PFS is to build commercial PACE (C-PACE) programs that seamlessly connect C-PACE capital to interested building owners. The result is increased economic activity, reduced environmental pollution, and new jobs. PFS combines an unprecedented track record in commercial PACE administration with extensive expertise in tax lien finance. PFS’ mission is to create a low-cost PACE administration option for states and counties looking to drive private sector PACE investment and scale the PACE market nationally.