Texas cities given funding for property assessed clean energy schemes

June 2, 2010

The cities of Austin and San Antonio, Texas, have each been given $10 million in federal grants to help set up municipal loan programs for solar energy and energy efficiency improvements.

The Recovery Act funding will help set up Property-Assessed Clean Energy (PACE) financing mechanisms that allow homeowners and businesses to finance clean energy projects through the property tax system,

Municipal utility Austin Energy said it believes a $96.5 million program would result in energy efficiency and solar installations to some 7,250 homes and businesses during the first three years of the program.