LOS ANGELES — The commercial property side of Property Assessed Clean Energy has drawn so much interest that market watchers think in a few years enough volume could exist in California to start bundling the currently privately-placed bonds to sell in the public market.

Property Assessed Clean Energy (PACE) allows residential and commercial property owners to use municipal bonds to finance energy efficiency and water conservation projects. The costs are financed by bonds and repaid typically over a 15- to 20-year period by property owners in property tax assessments.

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