PACENation Summit 2019

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PACE Updates

  • Statement by PACENation on the critical importance of competition and open markets in commercial PACE programs

    PACENation is the national non-profit organization that advocates for PACE financing. PACENation provides resources and support to local governments, businesses, and non-profit organizations that are committed to allowing American property owners to improve the efficiency and resiliency of their homes and businesses with PACE.

    Since our founding in 2012, PACENation has supported the development of every successful commercial PACE (C-PACE) program in the country. Working alongside committed stakeholders from the public, private and non-profit sectors, we have developed a set of best practices that we encourage states, counties, and cities to consider as they establish their C-PACE programs.

    One important best practice is to maintain an open market for qualified capital providers, project developers and contractors to compete for C-PACE projects.  Programs should set reasonable minimum qualifications for capital providers and program administrators. Both the statute and program documents should not favor or disadvantage any qualified party in a C-PACE project. For C-PACE programs to thrive, PACENation believes competition is critical.

    First-rate C-PACE programs depend on skilled program administration. PACENation believes program administrators and capital providers should be clear about their roles and responsibilities, often memorialized in a signed agreement.  The program administrator’s scope of work should focus on three essential functions:

    a) Organize the process of drafting a program manual and guidelines;
    b) Approve projects that are eligible and compliant;
    c) Promote the program to stakeholders.

    Capital providers should perform four key functions:

    a) Originate a pipeline of projects for C-PACE financing;
    b) Apply project underwriting standards consistently and efficiently;
    c) Coordinate with program administrators in the approval, closing, and collection process;
    d) Provide capital to fund projects at competitive rates.

    The C-PACE market is at an exciting and important inflection point with several new programs emerging around the country. It is the opinion of PACENation that these programs ought to look at the lessons of the states, counties, and cities before them as they design their programs. For public acceptance and political durability, open market PACE programs are a critical component.

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    MikeStatement by PACENation on the critical importance of competition and open markets in commercial PACE programs
  • PACENation Announces Four New Board Members and Elects PACE Inventor Cisco DeVries to Serve as Chairman of the Board

    PACENation has announced the election of four new Board members: Deborah Burke of the Rockefeller Brothers Fund, Keith den Hollander of the Christian Coalition, Robert Giles of PACEfunding, and Brad Knyal of E3. Cisco DeVries has been elected to serve as Chairman of the Board of PACENation.

    “I am thrilled to welcome these new members to our Board of Directors. Each brings a unique perspective and depth of experience that will make them an excellent resource and advocate for PACENation’s stakeholders,” said Jeff Tannenbaum, PACENation’s founder and Chair Emeritus. “I am also delighted to announce that Cisco DeVries, the inventor of PACE and a visionary in clean energy finance, will be taking on the role of Board Chair. It has been an honor to Chair PACENation, to have worked with so many committed and talented individuals, and to leave the organization with such capable leaders.”

    “PACENation is leading the charge to make energy efficiency, renewable energy, and resiliency a choice for all building owners,” said Cisco DeVries. “I look forward to working with PACENation’s members as we continue to strengthen PACE as an industry.”

    Cisco DeVries is the Entrepreneur-in-Residence at Titan Grove. For over two decades, Mr. DeVries has nurtured new ideas, created policy, built companies, and inspired change. In 2008, Mr. DeVries co-founded the firm Renew Financial, which under his leadership became one of the largest dedicated clean energy finance companies in the United States. As CEO of Renew, he raised over $2 billion in private capital that financed energy efficiency and clean energy projects in nearly 100,000 homes. Previously, he spent five years as the Chief of Staff to Berkeley Mayor Tom Bates where he managed the Mayor’s environmental agenda and developed the first PACE program. In 1996, he was appointed to the administration of President Bill Clinton, and served as an aide to the U.S. Secretary of Energy, held roles at the White House and the U.S. Department of Transportation, and organized the roll-out of key Presidential and Secretarial policy initiatives throughout the U.S. and internationally.

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    MikePACENation Announces Four New Board Members and Elects PACE Inventor Cisco DeVries to Serve as Chairman of the Board

TWEETS

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.

2017 C-PACE Economic, Energy, and Environmental Impact Report

Download our year-end C-PACE report for insights on annual trends, regional C-PACE activity, and estimates of impact on local municipalities.

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