Powering Affordable Clean Energy PACE Program by the IRA

Funding:

Congress has authorized $1 billion in PACE program funding. The maximum available loan is $100 million including the forgivable portion. The minimum loan is $1 million.

Qualifications:

The PACE program is available to eligible applicants that generate electricity for resale to residents in both rural and non-rural areas. However, at least 50 percent of the population served by your proposed renewable energy project must live in communities with populations of 20,000 or fewer.

Eligible entities include:

Corporations, states, and territories, along with their subdivisions and agenciesMunicipalitiesUtility districtsCooperativesNonprofitsIndian TribesAlaska Native, regional, or village corporationsLimited Liability Companies or other for-profit entities organized under the laws of any U.S. state or territoryWe will only accept one application from each eligible entity. However, eligible groups can collaborate to package their proposed projects into one joint letter of interest.

Deadline to Apply: The application window is open June 30 – September 29, 2023