As key California disclosure law takes effect and U.S. Department of Energy best practices become industry norm, leading residential PACE provider launches new contractor management system
SAN DIEGO, Jan. 10 – Residential Property Assessed Clean Energy (PACE) financing – a California home-improvement innovation that has become one of the fastest-growing forms of financing in America – is starting 2017 with robust consumer protections as the industry norm, including some which go well beyond any other form of consumer financing and actually will raise the bar for how homeowners experience home improvement.
When an energy services contractor sits down with a family at their dinner table to discuss the details of an efficient HVAC upgrade, solar installation, cool roof, or other energy upgrades, one question always comes up: “How will I pay for it?”
PACE financing is, increasingly, the answer to that question. PACE offers a more affordable and accessible way to finance energy efficiency, water efficiency, and renewable energy improvements to homes and commercial buildings. PACE programs have already funded over $3 billion in energy upgrades across the nation, and this increased investment has created stable work for local contractors —
Rancho Mirage, CA: K2 Clean Energy Capital, LLC has developed and executed the PACE financing for the construction of a $2.4M project including a solar PV carport system and installation of energy efficiency upgrades at The River at Rancho Mirage. The River, which was acquired by the CheerLand Investment Group in June 2014, is the premier shopping, dining, and entertainment destination in the Coachella Valley. The River features Century Theatres; leading restaurants including Fleming’s Steakhouse, The Yard House, PF Chang’s, and the Cheesecake Factory; and many high-end retail establishments.
Industry-leading solar loan and PACE financing now on one platform to simplify financing process for contractors and homeowners
SAN FRANCISCO–(BUSINESS WIRE) — Dividend Solar, a division of Dividend Finance, now offers residential PACE financing and its industry-leading EmpowerLoan™ on a single platform for contractors and homeowners. This new platform streamlines the financing process for contractors and their customers, giving homeowners easier access to financing for solar and energy efficiency improvements.
“A single platform now means that our partners never have to make a change mid-sale and it gives the customer options to choose what works best for them,” said Chris Doyle, Chief Commercial Officer for Dividend. “With Dividend PACE, more homeowners can now qualify, while giving our partners the ability to expand their business into other areas of energy improvements as well.”
PACENation is your organization, dedicated to bringing PACE to every community in America. We’re working with groups throughout the U.S. to bring PACE to more places and make sure property owners, manufacturers, contractors, governments and investors understand its unique advantages. And as our market grows, we’re developing best practices and standards to help ensure the long-term success of PACE.
PACE is at a turning point, and PACENation will need additional resources to meet the needs of our rapidly growing marketplace. To that end, we are pleased to launch a membership program that will enable deeper engagement between PACE stakeholders and our organization and help bolster financial support for our efforts.
Roy A. Hale writes for CleanTechnica and the EcoReport:
“Last July, Leon County (home to Tallahassee) became the first Florida municipality to adopt the HERO PACE Program. Several other Florida counties and cities followed suit. The latest was Orlando, whose city council approved the program this week. These are a few of the milestones, as HERO PACE comes to Florida & Missouri.
“The key here is drawing a distinction between communities that have approved/adopted HERO and those communities in which the HERO Program has officially launched. There is typically a gap of between 3–6 months between the time of approval/adoption and an actual launch,” explained a company spokesperson.
The Commercial Real Estate market is among the most viable sector of buildings to take advantage of PACE financing. This webinar will discuss some of the best ways to pitch PACE to property owners and those involved with making final decisions related to energy upgrades. Topics will cover: the best talking points for capturing the interest of CRE decision makers; understanding the financial impact of various lease structures; the cost of PACE debt vs. traditional debt and equity; and more. Click to register… Speakers include:
George Caraghiaur, Senior Fellow, PACENation
L. Jean Dunn, Founder and CEO, Structured Finance Associates
Abby Johnson, President, Abacus Property Solutions & Atlantic PACE
AUSTIN – The Travis and Williamson counties’ PACE programs closed their first commercial projects today, totaling $3 million in financing for energy and water saving retrofits to three Simon Property Group malls: Barton Creek Square in Austin, Lakeline Mall in Cedar Park, and the Round Rock Premium Outlets.
“These projects are exactly what we had in mind when the legislature created PACE,” said Texas Rep. Jim Keffer, chairman of the House Natural Resources Committee and the PACE bill author. “The upgrades will save water and energy, improve the tax base in these communities, and provide long-term financing for the property owners. Truly a win-win-win for Texas.”
CleanFund finances $10-million renewable energy improvement, which will deliver more than $1 million in annual operating cost savings to Pacific Ethanol
High performance solar energy system to be designed and installed by Borrego Solar Systems under California’s Net Metering 2.0 rules that allow offset of greater energy usage than previously available
SAN FRANCISCO and SACRAMENTO, Calif. (September 26, 2016) — Pacific Ethanol, Inc. (NASDAQ:PEIX), a leading producer and marketer of low-carbon renewable fuels in the United States, is purchasing and installing a new 5 megawatt (MW) solar photovoltaic (PV) power system at its Madera, California biorefinery that produces ethanol, wet distiller grains and corn oil.
$10-million of the project cost is being financed by CleanFund, the leading provider of long-term financing for energy efficiency, renewable energy, water conservation and seismic improvements specifically for commercial, industrial, multifamily and other non-residential properties across the U.S.
DENVER – Sept. 21, 2016 – The New Energy Improvement District (NEID) announces financing for Colorado’s first Commercial Property Assessed Clean Energy (C-PACE) project. NEID, with Colorado Energy Office (CEO) support, oversees the development of Colorado C-PACE projects. The Boulder County project is a 42,000 sq. ft. commercial and industrial facility owned by Urban Green Development. The facility will undergo energy improvement measures totaling approximately $320,000, with a loan from Citywide Banks.
“The availability of Colorado C-PACE financing was the catalyst that drove our decision to make these important building improvements,” said Scott Kiere, Chief Executive Officer of Urban Green Development. “This investment will increase the asset value, lower energy costs and reduce greenhouse gas emissions.”