The Missouri Property Assessment Clean Energy (PACE) Act, §§67.2800–67.2840, RSMo, lets property owners pay for energy efficiency and renewable energy improvements through a voluntary special assessment on their property. They repay it over time along with their property taxes. The General Assembly enacted it in 2010 (HB 1692) and substantially amended it in 2021 (HB 697).
Under the Act, one or more counties, cities, towns, or villages may form a clean energy development board, a political subdivision authorized to run a PACE program. A board sets eligibility criteria, evaluates projects and property owners, and enters into assessment contracts. It may also issue bonds or use private capital to fund the improvements. Before approving a project, the board must find that enough resources exist to complete it and that its estimated economic benefit equals or exceeds its cost. An assessment contract can run up to twenty years, but no longer than the weighted average useful life of the improvements. The assessment is a lien that runs with the land. Eligible improvements include insulation, windows and doors, HVAC upgrades, lighting, energy controls, and renewable systems such as solar, wind, and geothermal.