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

Rhode Island Infrastructure Bank Announces Financing for First Rhode Island C-PACE Projects

Source: RI-CPACE.

Funding Provides Major Cost, Energy Savings for R.I. Business

PROVIDENCE, RI – Rhode Island Infrastructure Bank (RIIB) today announced that the first two Rhode Island Commercial Property Assessed Clean Energy (RI C-PACE) projects have received financing. RI C-PACE provides financing for clean energy projects that lead to significant cost and energy savings for commercial and industrial property owners.

Collectively, the projects will reduce annual CO2 emissions by 188.6 tons, which is equivalent to the CO2 emissions from over 452,000 miles driven by the average passenger vehicle.These first projects call for the installation of roof-mounted solar panels on two office buildings in Middletown. The properties are owned by the financial services firm, Embrace Home Loans. Combined, the projects will save the firm an estimated $226,000 in energy costs across the 20-year financing term. The total investment in the energy savings projects is $1.2 million.

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MikeRhode Island Infrastructure Bank Announces Financing for First Rhode Island C-PACE Projects

Morningstar agrees: PACE is low-risk, beneficial to homeowners, and has strong oversight

In a recent report, “Clearing the Air – Addressing Three Misconceptions of PACE,” Morningstar ABS Research clarified a few important points about PACE financing.

Read an excerpt, then click through to see the whole report:

Morningstar Perspective:

As financing of energy-efficient projects through property assessments becomes more widespread, concerns and misconceptions regarding its use and oversight have become more common. Morningstar Credit Ratings, LLC explores three misconceptions we have heard from market participants regarding the residential property assessed clean energy sector. First, we note that a PACE assessment is an asset-based obligation, rather than a mortgage loan, so lien-to-value ratio, more than an individual’s credit score, is a more appropriate risk indicator.

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MikeMorningstar agrees: PACE is low-risk, beneficial to homeowners, and has strong oversight

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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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