New Developments in PACE Across the Country

Here are some of the latest news items about PACE around the country (newest to oldest):

October 18, 2013: Fayetteville to Become Arkansas’s First Energy Improvement District

FAYETTEVILLE, AR (News release) – The Fayetteville City Council unanimously enacted an ordinance Tuesday that will make the city  the first community in Arkansas to take advantage of the Property Assessed Clean Energy (PACE) financing program (Act 1074), which was enacted by the Arkansas legislature earlier this year, according to theArkansas Advanced Energy Association (AAEA).

With strong support from Mayor Lioneld Jordan, the Council voted 7-0 to enact an ordinance creating Energy Improvement District No. 1 effective on November 15, 2013.

The Mayor and council will now appoint seven members of a PACE Board of Directors and plan to formally launch the program after the first of the year, 2014. One member will be appointed by the Mayor and six will be selected by the City Council to serve a term of two years.

Read complete story…

October 17, 2013: Broward County, FL Adopts PACE

SustainableBusiness.com reports that

Broward County – the second most populous in the state – voted unanimously to move forward with Property Assessed Clean Energy (PACE) financing, which will significantly boost demand for residential and commercial energy retrofits.

Financing is available for efficiency upgrades, such as HVAC and LED lighting, wind-resistance improvements and solar installations….

“This is a game-changer for the community,” notes Michael Wallander of EcoCity Partners, the program’s administrator. “PACE provides a public good that should not be monopolized by one company, it should be used to create a competitive, open marketplace for innovative financing solutions.”

EcoCity Partners administers the Florida Green Finance Authority, a partnership of local governments formed to offer PACE financing to commercial property owners. Among the programs is Florida Green Energy Works, which provides commercial financing….

With the addition of Broward County, Florida Green Energy Works expands to serve jurisdictions across 5 counties and over 2 million people. The company recently received $1.4 million in federal grants from the US Department of Energy and the US Economic Development Association to demonstrate a new streamlined financing process, provide free energy audits, and to help expand the program statewide.

See complete story…

October 17, 2013: Simon Property’s Southern Park Mall (near Youngstown, Ohio) to get $4M in PACE financing for energy efficiency

Vindy.com reports that

The Western Reserve Port Authority has authorized its executive director to finalize terms of a project that will help Southern Park Mall acquire up to $4 million for roofing and lighting improvements.

The purpose of the federal Property Assessed Clean Energy bond project is to provide businesses and homeowners with a way to acquire and repay funds used to become more energy efficient.

The mall and Boardman Township are expected to complete the financing part of the project by the end of the year. Simon Properties would repay the money through assessments on its property taxes over about 15 years.

See complete story

Unfortunately the article’s title is a bit misleading, and commenters appear to believe that this is an “interest-free loan” or represents some other hidden subsidy to large property owners or corporations. See our FAQ page for a response to this mistaken assumption.

October 13, 2013: Macomb County Establishes Michigan’s Largest PACE Financing District

MT. CLEMENS (WWJ) – The Macomb County Board of Commissioners passed a groundbreaking resolution creating the largest Property Assessed Clean Energy District in Michigan. Last week’s unanimous vote was the culmination of a collaborative process between the Commission, the Macomb County Executive’s Office, Treasurer’s Office and Levin Energy Partners, LLC, which runs Lean & Green Michigan, administering the PACE program for participating local governments.

Read the full story…

October 13, 2013: St. Louis energy savings program gets rolling

… Set the Pace St. Louis, launched in July to help property owners finance energy-efficiency projects and renewable energy systems….

Set the Pace St. Louis is intended to help property owners overcome high upfront costs that can take years to recoup. Those costs often serve as a barrier to energy-savings projects that can help shrink energy bills and cut carbon dioxide emissions.

In the first three months, applications totaling more than $7 million worth of work have been received, said Byron DeLear, the head of Energy Equity Funding, the company contracted by the city to run the program….

But the St. Louis program works differently than most others across the country.

Instead of relying on the sale of bonds and repayment of loans through tax assessments, the St. Louis program uses a single lender, PNC Bank, and most borrowers pay the bank directly.

DeLear and Tom Applebaum, Energy Equity Funding’s president, said the relationship with PNC allows for more flexibility and less red tape and achieves the same objectives.

To read the full story, see St. Louis energy savings program gets rolling

October 11, 2013: GREAT NEWS! County Commission Votes to Establish a Property-Assessed Clean Energy (PACE) Program in Broward (by FLERA.org):

PACE program to offer financing options for residents interested in energy efficiency retrofitting

BROWARD COUNTY, Fla. – Until this week, Broward residents interested in saving energy by replacing air conditioners or installing solar panels had to have money in hand to perform the retrofit. Financing options to help defray the upfront costs for these energy efficiency improvements were limited. That changed on Tuesday, October 8, 2013, when the Broward County Board of County Commissioners voted unanimously to establish a commercial and residential Property Assessed Clean Energy (PACE) Program.

PACENow Market UpdateOctober 2013Los Angeles County Commercial PACE Financing Program has completed a $236,350 retrofit on the Teamsters Local 848 union building, which included a 35.5 kilowatt solar array installation, a cool roof, and a lighting upgrade. Learn more about this project from our case study.A number of commercial PACE case studies detailing projects completed in Toledo OH, San Francisco CA, Ann Arbor MI, and others are available on our website.2013 has been a turning point year for the PACE market. This is what national PACE landscape looks like today:

  • 31 states and D.C. have enabled PACE commercial
  • Over 25 commercial PACE programs are accepting applications and funding projects.
  • PACE is available in over 400 municipalities nationwide.
  • New legislative efforts underway in Indiana, Kentucky, Massachusetts, New Hampshire, and Pennsylvania.
  • Nine more programs are in development.

PACENow is proud to take part in this success. We work for a growing network of PACE programs, building owners, contractors, and PACE service providers, who are reducing energy use in buildings throughout our nation.

PACE News

  • Sir Richard Branson supports PACE. Read more.
  • EDF’s Brad Copithorne’s reflections on the PACE market.Read Brad’s blog.
  • Governor Jerry Brown proposes reserve fund to address FHFA’s regulatory concerns. Learn more.
  • U.S. and Australia: PACE Financing and Environmental Upgrade Agreements. Learn more about these two very similar approaches to making buildings more energy efficient.
  • PACE in Texas received national spotlight in the NYT. Check out the article.
  • FIGTREE Financing continues expanding its service area in California. Read more.
  • Ygrene Energy Fund launched clean energy program in Florida. Read more.
  • Eagan, MN joins commercial PACE program. See more.
  • PACE in MA: Senator Brian A. Joyce proposed an overhaul of existing PACE bill. Read more.
  • Ygrene on residential PACE in south Florida. Read more.
  • PACE in MN: St. Paul Port Authority can issue bonds to offer PACE financing. Read full story.
  • Lemon Grove City Council considers joining California HERO PACE Program. Read more.
  • Learn about PACE in CT: lunch provided by the town of Stratford on  Oct. 9. Get more details.

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