PACE funds energy upgrades to buildings that create jobs, make properties more valuable, and help states achieve policy goals. It’s 100% voluntary and it’s being adopted in every region of our nation.

PACE Updates

Council of Development Finance Agencies (CDFA) Shows Support for PACE

Read CDFA’s letter in opposition to S.838, the “PACE” Act of 2017, below:


To: Senate Committee on Banking, Housing, and Urban Affairs
From: Toby Rittner, President & CEO Council of Development Finance Agencies
100 E. Broad Street, Suite 1200
Columbus, OH 43215
[email protected]

Re: Opposition to S. 838, the “PACE” Act of 2017

Senators Cotton (R-AR), Rubio (R-FL), and Boozman (R-AR) have introduced a bill in the U.S. Senate that would kill one of America’s most successful forms of financing for clean energy and energy efficiency: Property Assessed Clean Energy (PACE). The bill, known as the PACE Act of 2017, would define PACE as a mortgage loan by making it subject to the Truth in Lending Act (TILA) rules that regulate mortgage lenders. The imposition of TILA regulations on PACE would:

  • Require local governments to alter the way they collect property taxes and assessments,
  • Require local governments and contractors to become licensed as mortgage brokers,
  • Impose what could be lengthy delays in funding projects.
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MikeCouncil of Development Finance Agencies (CDFA) Shows Support for PACE

Statement by PACENation Executive Director David Gabrielson on Anti-PACE Legislation Being Introduced in Congress

Property Assessed Clean Energy (PACE) financing empowers state and local governments to meet important public policy objectives and boost local employment at no cost to public budgets. PACE supporters are deeply concerned by the incendiary attacks leveled against this innovative and successful policy today from some on Capitol Hill.

Observers should look beyond the inflammatory rhetoric and focus on common sense and basic facts. The PACE industry has long been committed to putting the homeowner’s best interests first and is supportive of additional strong consumer protections at the federal level to safeguard homeowners making energy-efficiency, renewable energy, water conservation, or hurricane protection improvements to their homes. But these protections must not dismantle the innovative model at the heart of PACE financing.

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MikeStatement by PACENation Executive Director David Gabrielson on Anti-PACE Legislation Being Introduced in Congress

TWEETS

Resources & Downloads

PACENation’s Consumer Protection Policies

PACENation’s consumer protection policies (CPP Version 2) represent the strongest protections and disclosures for homeowners investing in energy efficiency or renewable energy.

Study: PACE Makes Homes More Valuable

In the first economic study of homes with PACE upgrades, three different methodologies and three home price indices were examined and all turned up the same results; PACE is good for the resale value of homes, even after taking into account the financing costs. Published in the Journal of Structured Finance January 2016.

Whitepaper: Benefits of PACE for Commercial Real Estate Companies

For commercial real estate property owners, PACE financing can remove the typical barriers to the implementation of energy efficiency improvements. In this whitepaper, George Caraghiaur explains how to take advantage of the many benefits PACE provides to commercial real estate companies.

Q3 2016 C-PACE Market Update

In the third quarter of 2016, the commercial PACE market continued to grow as PACE programs provided financing for 104 commercial projects that amounted to $44.6 million in total funding.

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