Consumer Protection Framework Provides Model for Other States
PACENation applauded California Governor Jerry Brown for signing into law landmark legislation, AB 1284 and SB 242, that strengthens residential PACE financing through a comprehensive consumer protection and regulatory framework. The bills, which passed with overwhelming bi-partisan support, provide important new standards that will strengthen and improve PACE financing for homeowners across California, and can serve as a model for other states.
“We hope that policymakers in other states will look to this model PACE legislation,” said David Gabrielson, Executive Director of PACENation. “These new laws provide critical safeguards that will help PACE programs scale responsibly in communities around the country. By basing underwriting on income and ability-to-pay, requiring a comprehensive suite of consumer protections, and mandating program reporting to public agencies, PACE will better serve homeowners and local communities in saving energy and making a positive impact on the environment.
“PACENation would like to thank the coalition of environmental organizations, consumer advocates, business leaders, clean energy groups, public officials, and others who worked together to see this legislation become law,” said Gabrielson.read more