PACE allows private property owners to finance energy efficiency and renewable energy improvements on their buildings through an additional assessment on their property tax bill, rather than bearing the cost upfront. Missouri legislation enables the creation of a Clean Energy Development Board, which can issue bonds for the financing of energy efficiency (such as more insulation, better windows and improved HVAC systems) and renewable energy (such as geothermal heat pumps, wind and solar systems) improvements to their businesses and commercial property, and repay projects costs over a period up to 20 years through a special assessment on their property taxes. Independence may join one or more PACE districts.
Independence is already a member of Missouri Clean Energy District for commercial projects. This Resolution expands the program to residential properties.