Local Option - Special Improvement Districts (Georgia)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Local Option - Special Improvement Districts|
|Incentive Type||PACE Financing|
|Applicable Sector||Commercial, Industrial, Local Government, Residential, Schools|
|Eligible Technologies||Locally determined, Locally determined|
|Energy Category||Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs|
|Program Administrator||Programs administered locally|
|Date added to DSIRE||2010-05-27|
|Last DSIRE Review||2013-08-07|
Note: The Federal Housing Financing Agency (FHFA) issued a statement in July 2010 concerning the senior lien status associated with most PACE programs. In response to the FHFA statement, most local PACE programs have been suspended until further clarification is provided.
Property-Assessed Clean Energy (PACE) financing effectively allows property owners to borrow money to pay for energy improvements. The amount borrowed is typically repaid via a special assessment on the property over a period of years. Georgia has authorized certain local governments to establish such programs, as described below. (Not all local governments in Georgia offer PACE financing; contact your local government to find out if it has established a PACE financing program.)
Georgia has authorized the expansion of "business improvement districts" to allow county, city, or town development authorities to provide financing for the installation of renewable energy systems, energy efficiency or conservation improvements, and water efficiency or conservation improvements to residential, commercial, industrial or other qualifying property.
Authorities (Please contact the if there are any file problems.)
|Authority 1:||O.C.G.A. § 36-62-2|
|Authority 2:||O.C.G.A. § 36-42-3|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.