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

  • How Can the Solar Industry Benefit From PACE Financing?

    During the PACENation Summit in Denver, keynote speaker Abigail Hopper, president & CEO of SEIA, explored the PACE program’s potential to open new markets, key means to increase solar usage and the tariffs on imported solar panels.

    Day two of the PACENation Summit kicked off in Denver on Tuesday with a keynote address from Abigail Hopper, president & CEO of SEIA, the national trade association for the solar industry. Hopper spoke on the present and future of the solar market before shifting her focus to ways that the solar industry and PACE have worked together, and how they can grow and enhance the relationship between the two industries in the future.

    It has been a turbulent year for the solar industry. The current White House is more inclined to support traditional forms of energy, a position made abundantly clear when the Trump Administration announced a 30 percent tariff on solar imports in January of this year. Solar installations fell sharply in 2017, although a hefty portion of that can be attributed to the anticipation of an expiring tax credit that accelerated installation for much of 2016. Hopper also cited a “playbook on how to undermine solar” for the opponents of the solar industry to follow when engaging with state and local governments, which has arisen over the last couple of years. This is to be expected. As solar is beginning to eat into the market share of traditional energy companies, push-back was inevitable.

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    MikeHow Can the Solar Industry Benefit From PACE Financing?
  • New Analysis Shows Residential PACE Delinquency Rates Lower Than Those of Comparable Homeowners

    PACENation welcomes new DBRS report showing “strong performance with very low delinquency levels.”

    Today, credit rating agency DBRS released the first comprehensive analysis of residential PACE (R-PACE) delinquency rates that combines data across multiple years and PACE providers. Using data on R-PACE assessments over four tax years, the analysis found lower delinquency rates compared to all properties and single-family homes in California.

    DBRS rates R-PACE asset-backed securitization transactions. The agency remarked that their analysis of delinquency rates showed “strong performance with very low delinquency levels,” and “consistent performance and very low volatility across tax years.” The analysis highlights the following:

    • The limited performance history shows strong performance with very low delinquency levels around 2% to 4% at the peak, declining to less than 1% within 12 months;
    • PACE delinquency metrics are lower than general aggregate property tax and single-family residential only property tax delinquency levels. PACE also shows consistent performance and very low volatility across tax years; and
    • Healthier performance relative to all residential tax payors may reflect self-selection of PACE homeowners to improve their properties.

    PACENation welcomes the additional clarity this report brings to this important discussion. This data provides further confirmation that R-PACE remains a consistent and reliable way for homeowners to fund energy efficiency, renewable energy and resiliency upgrades to their properties. PACENation’s Executive Director David Gabrielson said “This report shows that PACE is a great option for homeowners who choose to make their homes more efficient, safer, and more comfortable – as over 180,000 homeowners already have.”

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    MikeNew Analysis Shows Residential PACE Delinquency Rates Lower Than Those of Comparable Homeowners

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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.

2009-2016 C-PACE Market Overview

From 2009-2016, the commercial PACE market provided financing for 1020 commercial projects that amounted to $340 million in total funding.

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