Consumer Protections

PACENation’s Consumer Protection Policies V1

These policies provide the strongest protections for homeowners using PACE to invest in clean energy, energy efficiency, and water efficiency home upgrades. The standards address eligibility requirements, ability to repay, disclosures, privacy concerns, contractor conduct, as well as comprehensive operational requirements for PACE Programs.

More information

PACENation Releases Consumer Protection Policies for Residential PACE Market

 

Today, PACENation has released Consumer Protection Policies for the residential property assessed clean energy (PACE) programs. These policies (CPP V1) provide the strongest protections for homeowners using PACE or any other type of financing who want to invest in clean energy and water efficiency upgrades to their properties. They address a homeowner’s eligibility for financing and ability to repay, comprehensive financial disclosures, appropriate contractor conduct, acceptable products and projects (with pricing guidelines), post-funding support, treatment of protected classes, grievance procedures, data security and privacy matters. CPP V1 also emphasizes the operational requirements that PACE programs and financial and administrative service providers must meet to ensure that standards set by these policies are met.

PACENation Executive Director David Gabrielson said, “PACENation’s Consumer Protection Policies create a meet-or-exceed standard that PACENation member organizations should adhere to. When it comes to PACE, nothing is more important than protecting the interests of homeowners, and CPP V1 is designed to do just that.”

PACE financing enables a much broader range of homeowners to implement energy efficiency, renewable energy and water efficiency improvements that increase the value, comfort, functionality, and sustainability of their homes. Such improvements make homes less costly to operate and more comfortable to live in, while simultaneously reducing energy and water consumption. Without PACE Programs many homeowners would not have affordable access to these upgrades. To date, over 80,000 homeowners have used PACE for clean energy and water conservation measures that will save 9.1 billion kWh of energy, 3.4 billion gallons of water, cut carbon emissions by 2.5 million tons, and knock $2.5 billion off homeowner utility bills. It is estimated that the money spent on these projects has created over 13,000 local jobs.

PACE programs, their government sponsors, and the associated parties who help implement them, provide advice, tools and resources that allow homeowners to make smart, informed and responsible choices. PACE programs must therefore be responsible for ensuring that the advice, tools and resources provided are appropriate and accurate. Care must be taken with homeowners before, during and after the origination of program financing. Consumer protections that serve homeowners must be a core value of PACE programs and all associated parties.

CPP V1 is based on standards, developed by PACENation and members who are market leaders. They have already been adopted in substance by PACE programs offered through the California Statewide Communities Development Authority (Alliance NRG, CaliforniaFirst, and PACE Funding) and the Western Riverside Council of Government (HERO). Standards set forth in CPP V1 are also supported in principle by other PACE service and finance providers and by a number of government sponsors of PACE financing.

Follow this link to read the full document: http://www.pacenation.us/consumer-protection-policies/

PACENation is a national, non-profit, organization serving the interests and needs of over 300 member organizations that share a common goal of making PACE financing available to all building owners throughout the United States. PACENation is building a broader PACE network by providing information, resources, and advice to a growing universe of PACE market stakeholders. To learn more, visit http://www.PACENation.us


DOE’s Best Practice Guidelines for Residential PACE Financing Programs (2016)

In 2016, DOE released updated guidelines for residential PACE programs. PACENation is working with residential PACE providers to incorporate DOE’s and PACENation’s guidelines into PACENation’s Consumer Protection Policies Version 2.

Next step…

Connect with our members and join PACENation

View current PACE market statistics

Explore our library of C-PACE case studies

MikePACENation’s Consumer Protection Policies