There are no credit checks although property ownership must be in good standing. Generally, financing approval is subject to the following:

  • Applicants must be the legal owner(s) of the property
  • Property must be developed and located in Placer County, Nevada County or the City of Folsom (new construction is not currently eligible)
  • Property owner must be current on property tax payments and has not been in default for the past three years
  • Property owner must be current on mortgages with no notice of default for the last five years
  • Property owner must not have a record of bankruptcy for at least five years prior to application
  • Property cannot be subject to bankruptcy
  • Property cannot have any involuntary liens
  • For non-residential properties lender acknowledgement of the proposed assessment lien is required (program staff will work with you and your lender to obtain the necessary form)
  • In most cases, the financed amount cannot exceed 9.99% of property value plus improvements and cannot exceed the property equity.


  • The minimum amount that can be financed is $2,500
  • The financing can be repaid over 5, 10, 15, or 20 years or less and is based on the useful life of the improvement(s). Multiple improvements may have varied payback periods – blended/step-down payback periods
  • Current interest rate is 6% (simple interest) and the financed amount is amortized.
  • A PACE assessment is designed to stay with property after sale to any subsequent owner. However, mPOWER noticed an increase in lender required pay-off requests for PACE assessments at the time of refinance and sale. If you plan on refinancing or selling, a PACE assessment may not be right for you.

Find everything you need to apply on the Application Page!

Properties eligible for mPOWER financing

Other mPOWER Requirements

  • Attend a Property Owner Seminar to learn about our mPOWER financing
  • For non-residential properties documentation from your energy auditor or contractor showing that the installation of the financed improvement will generate a net positive cash-flow.
  • The amount financed cannot exceed the value of the property’s equity.
  • A net positive cash-flow must be demonstrated in order to qualify for financing for on‐site renewable energy projects such as solar, some exceptions may apply.

Information for Contractors
*Terms and conditions are subject to change without notice. Rates and prepayment premiums will not increase after application has been accepted.

Back to Top