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

New York City Announces Legislation to Launch Commercial PACE Program

New York, NY, September 14 – Today, Mayor Bill de Blasio announced City Council legislation to authorize a PACE financing program for building retrofits.

A NYC PACE retrofit program can create a tremendous new market for energy efficiency and renewable energy since the City’s buildings are, on average, more than 50 years old and valued at over $1 trillion. With the Mayor’s announcement, the City will join a long list of major cities with successful PACE programs including Dallas, Denver, Detroit, Houston, Los Angeles, Miami, Salt Lake City, San Diego, San Francisco, St. Louis, and Washington, D.C.

Jeff Tannenbaum, Chairman of the Board at PACENation, said “PACE is seeing continued strong bipartisan support because it requires no taxes or subsidies, is led at the local and state levels, has created tens of thousands of jobs, and helps property owners save money and make buildings healthier and safer.” Over the last several years, 14 Republican and 20 Democratic governors signed PACE bills into law.

To date, more than 160,000 home and building owners have used PACE to improve their properties with investments in energy efficiency, renewable energy, and more recently hurricane resistance measures, including in Florida where 8,000 homeowners have used PACE to make their properties more resilient while saving an estimated $7 million on their insurance premiums.   PACE financing is available in Houston and throughout the state of Florida to help finance the rebuilds from Hurricanes Harvey and Irma.

David Gabrielson, Executive Director at PACENation, said “It’s great to see that NYC will be launching a PACE program that will be a catalyst for tremendous job creation and economic activity.   I am also delighted that the Texas and Florida PACE programs can help lead the rebuild of the devastated areas and make our nation’s homes and buildings more resilient for future storm activity”.

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MikeNew York City Announces Legislation to Launch Commercial PACE Program

WRCOG Issues Statement on Wall Street Journal PACE Article

Read WRCOG‘s response to the Wall St. Journal below:

Riverside, CA – August 23, 2017 – The Western Riverside Council of Governments (WRCOG) is the largest bond issuer for Property Assessed Clean Energy (PACE) financing, which provides financing to eligible property owners for energy efficiency, water conservation, and renewable energy upgrades. WRCOG serves as the government oversight agency for a series of PACE providers, including the nation’s largest, the HERO Program, as well as Samas Commercial, CaliforniaFIRST, and soon to launch PACE Funding and Spruce Finance. WRCOG’s PACE programs have helped thousands of property owners improve their homes, and have brought numerous economic and environmental benefits to Western Riverside County and the 371 jurisdictions that operate statewide under the California HERO Program.

On August 15 the Wall Street Journal published a story on PACE (“More Borrowers are Defaulting on their ‘Green’ PACE Loans”). WRCOG’s Executive Director, Rick Bishop, issued a statement in response to the article.

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MikeWRCOG Issues Statement on Wall Street Journal PACE Article

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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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