Residential Electric Vehicle (EV) Charger Financing Program

Property Assessed Clean Energy (PACE) Loss Reserve Program financing allows property owners to borrow funds to pay for energy improvements, including purchasing and installing EV chargers. The borrower repays the financing over a defined period of time through a special assessment on the property. Local governments in California are authorized to establish PACE programs. Property owners must agree to a contractual assessment on the property tax bill, have a clean property title, and be current on property taxes and mortgages. Financing limits are 15% of the first $700,000 of the property value and 10% of the remaining property value. For more information, see the California Alternative Energy and Advanced Transportation Financing Authority PACE Loss Reserve Program website.

(Reference California Public Resources Code 26050-26082)