Property Assessed Clean Energy Financing
The amount of financing accessed by Bridgewater residents through the Property Assessed Clean Energy Financing Program (PACE) to install clean energy upgrades such as insulation, energy efficient windows and doors, as well as high efficiency heat pumps and solar panels.
Why This Matters
Many households in Bridgewater face high home energy costs due to old, leaky homes that are costly to heat. The PACE program allows Bridgewater homeowners to install clean energy upgrades such as insulation, energy efficient windows and doors, as well as high efficiency heat pumps and solar panels, and have the up-front costs paid for by the Town. A Home Energy Assessment determines what upgrades a home is eligible for. The Town is offering up to $20,000 for qualifying homes, at a fixed low lending rate of 4% amortized over 10 years. Residents benefit from the Clean Energy Financing program by eliminating the large upfront cost of upgrades, and the ability to spread installment payments over a decade.
Measurement and Limitations
The total amount of financing accessed by Bridgewater residents through PACE is calculated by Bridgewater’s Department of Finance.
Department of Finance – Town of Bridgewater
For more information on how to access PACE financing, visit the website below:
Property Assessed Clean Energy Financing in the Sustainable Development Goals
Click on the SDG to reveal more information
7. Ensure access to affordable, reliable, sustainable and modern energy for all
Energy is central to nearly every major challenge and opportunity the world faces today. Be it for jobs, security, climate change, food production or increasing incomes, access to energy for all is essential.
Sustainable energy is opportunity – it transforms lives, economies and the planet.
UN Secretary-General Ban Ki-moon is leading a Sustainable Energy for All initiative to ensure universal access to modern energy services, improve efficiency and increase use of renewable sources.
8. Promote inclusive and sustainable economic growth, employment and decent work for all
Roughly half the world’s population still lives on the equivalent of about US$2 a day. And in too many places, having a job doesn’t guarantee the ability to escape from poverty. This slow and uneven progress requires us to rethink and retool our economic and social policies aimed at eradicating poverty.
A continued lack of decent work opportunities, insufficient investments and under-consumption lead to an erosion of the basic social contract underlying democratic societies: that all must share in progress. The creation of quality jobs will remain a major challenge for almost all economies well beyond 2015.
Sustainable economic growth will require societies to create the conditions that allow people to have quality jobs that stimulate the economy while not harming the environment. Job opportunities and decent working conditions are also required for the whole working age population.
9. Build resilient infrastructure, promote sustainable industrialization and foster innovation
Investments in infrastructure – transport, irrigation, energy and information and communication technology – are crucial to achieving sustainable development and empowering communities in many countries. It has long been recognized that growth in productivity and incomes, and improvements in health and education outcomes require investment in infrastructure.
Inclusive and sustainable industrial development is the primary source of income generation, allows for rapid and sustained increases in living standards for all people, and provides the technological solutions to environmentally sound industrialization.
Technological progress is the foundation of efforts to achieve environmental objectives, such as increased resource and energy-efficiency. Without technology and innovation, industrialization will not happen, and without industrialization, development will not happen.
12. Ensure sustainable consumption and production patterns
Sustainable consumption and production is about promoting resource and energy efficiency, sustainable infrastructure, and providing access to basic services, green and decent jobs and a better quality of life for all. Its implementation helps to achieve overall development plans, reduce future economic, environmental and social costs, strengthen economic competitiveness and reduce poverty.
Sustainable consumption and production aims at “doing more and better with less,” increasing net welfare gains from economic activities by reducing resource use, degradation and pollution along the whole lifecycle, while increasing quality of life. It involves different stakeholders, including business, consumers, policy makers, researchers, scientists, retailers, media, and development cooperation agencies, among others.
It also requires a systemic approach and cooperation among actors operating in the supply chain, from producer to final consumer. It involves engaging consumers through awareness-raising and education on sustainable consumption and lifestyles, providing consumers with adequate information through standards and labels and engaging in sustainable public procurement, among others.
13. Take urgent action to combat climate change and its impacts
Climate change is now affecting every country on every continent. It is disrupting national economies and affecting lives, costing people, communities and countries dearly today and even more tomorrow.
People are experiencing the significant impacts of climate change, which include changing weather patterns, rising sea level, and more extreme weather events. The greenhouse gas emissions from human activities are driving climate change and continue to rise. They are now at their highest levels in history. Without action, the world’s average surface temperature is projected to rise over the 21st century and is likely to surpass 3 degrees Celsius this century—with some areas of the world expected to warm even more. The poorest and most vulnerable people are being affected the most.
Affordable, scalable solutions are now available to enable countries to leapfrog to cleaner, more resilient economies. The pace of change is quickening as more people are turning to renewable energy and a range of other measures that will reduce emissions and increase adaptation efforts.
But climate change is a global challenge that does not respect national borders. Emissions anywhere affect people everywhere. It is an issue that requires solutions that need to be coordinated at the international level and it requires international cooperation to help developing countries move toward a low-carbon economy.
To address climate change, countries adopted the Paris Agreement at the COP21 in Paris on 12 December 2015. The Agreement entered into force shortly thereafter, on 4 November 2016. In the agreement, all countries agreed to work to limit global temperature rise to well below 2 degrees Celsius, and given the grave risks, to strive for 1.5 degrees Celsius. You can learn more about the agreement here.
Implementation of the Paris Agreement is essential for the achievement of the Sustainable Development Goals, and provides a roadmap for climate actions that will reduce emissions and build climate resilience.
Information about how Bridgewater is achieving this SDG