Approximately 1800 energy efficiency projects have been implemented throughout the United States with the support of PACE, for a total of $750 million. As Pickering explains, the PACE (Property Assessed Clean Energy financing) project is an innovative tool that makes it possible to fully finance the design, planning and construction work of a cogeneration plant, based on advantageous interest rates and over a period of about 20/25 years. An example is given to us of a company specialized in biotechnology, which set its sight on cogeneration in order to avoid the risk of blackouts and therefore the loss of years of study. Thanks to the PACE program, the company was able to fully finance the project, obtaining savings of approximately $340,000 per year in operating costs.