Download PDFs of the Conference Program, including Agenda, Speaker Bios, and PACE Infographics:
Complete Event Videos:
New Jersey PACE Executive director Jonathan Cloud provides the context for the Summit; NJPACE’s Victoria Zelin introduces David Gabrielson of PACENow to speak about what PACE is doing across the country (Part 1 of 2).
“What is PACE?” video:
Innovative. Voluntary. Efficient.
Speaker presentation: Gabrielson-2015.06.12 NJ PACE Summit (opens in a new window)
PACENow Executive Director David Gabrielson (continued) [Part 2]
Bert Hunter, Executive Vice President, Connecticut Green Bank, speaks about the success of C-PACE in Connecticut.
Speaker presentation: CTGreenBank_NJ_PACE_Presentation_06-12-15-final-corrected
Andrew Chintz, Director, National Public Finance Corp., on Energize NY’s use of PACE financing. (Part 1 of 2)
Speaker presentation: Chintz-2015 NJ Summit
Andrew Chintz, Director, National Public Finance Corp., on Energize NY’s use of PACE financing. (Part 2 of 2)
NJPACE Executive Director Jonathan Cloud introduces a panel on “What’s Possible in New Jersey,” with Ed Sayers (VP of Energy Services and Sustainable Practices for Simon Property Group), Kevin Moyer (Partner and CIO, PACE Equity, and Chairperson of the Board of NW Ohio Advanced Energy Improvement Corporation), Mike Licamele (President of MSL Group), George Vallone (President of the NJ Builders Association, and of Hoboken Brownstone Corp.), and Marcos Vigil (Deputy Mayor for Economic Development, Jersey City).
NJPACE Finance Director Gus Escher introduces the Legislative Panel, with Gov. Jim Florio, BPU Commissioner Upendra Chivukula, and Voorhees Deputy Mayor Mario DiNatale; Senator Bob Smith is on the phone. (Part 1 of 4)
Escher moderates the Third Panel, with Gov. Jim Florio, and BPU Commissioner Upendra Chivukula; Senator Bob Smith is on the phone. (Part 2 of 4)
Panel 3 continues with Senator Smith and Commissioner Chivukula. (Part 3 of 4)
Panel 3 (Part 4): Voorhees Deputy Mayor Mario DiNatale and questions and answers
Wrap-Up and Conclusion:
Tony O’Donnell of The Sustainability Institute (TCNJ), asks a key question about facilitating the adoption of PACE in New Jersey.
Rezwan Razani of Footprint to Wings, asking another question.
New Jersey PACE Co-Founder Victoria Zelin
NJ Builders Association President George Vallone
Additional Conference Interviews:
Govi Rao and Al Matos of Noveda Technologies
Abby Johnson of Abacus Property Solutions, and Mark Pikus, Inland Green Capital
Dennis Wilson, Renewable Power
Klaus Rittenbach, Climate Action NJ
Photos from the Event:
David Gabrielson: Gabrielson-2015.06.12 NJ PACE Summit
Bert Hunter: CGB_NJ_PACE_Presentation_06-12-15-final-corrected
Andrew Chintz: Chintz-2015 NJ Summit
Frank Brill: “NJ Gov gets bill to boost private, clean-energy investment” (EnviroPolitics Blog, June 27, 2015). Written after the Legislature passed the bill on June 25.
Jon Hurdle: “BILL WOULD CHANNEL PRIVATE FUNDS FOR CLEAN-ENERGY BUILDING PROGRAMS” (NJSpotlight, June 15, 2015). A very positive article, though it gets a few things wrong. In particular, it confuses “property tax assessments” with “special assessments,” which are not actually property taxes but special user-related fees for specific purposes, such as sewers or sidewalks.
PACE does not affect the “property tax assessment,” i.e., the assessed value of the property and the corresponding amount of tax, for a couple of major reasons:
- Renewable energy systems are specifically exempted from adding to the property’s assessed value by New Jersey law; and
- Replacing energy systems and improving resiliency are generally seen as part of regular maintenance, not capital improvements
Because there is an immediate increase in net asset value, there may eventually be an increase in the amount of tax paid, but that’s likely to be relatively minor.
A couple of other mistakes, one of which has since been corrected (they originally got the bill number wrong): the PACE program in New Jersey will permit financing up to 30 years (not 20 as in Connecticut and some other states). And the article does not note that some municipalities—those under state financial supervision (currently eight or nine out of 565)—will still need to apply for approval, and demonstrate their organizational capability to operate the program.
But apart from these quibbles the article is extremely positive and informative. It quotes not only a couple of speakers but also a diverse group of stakeholders attending the Summit—a capital provider, a contractor, and an equipment supplier—who have nothing but positive things to say about PACE.
The program really is a triple or quadruple win—of benefit to property owners, lenders, energy services contractors, and the community, which gets jobs, economic development, and reduced carbon pollution. Unlike other “government programs,” it doesn’t use public money, and it doesn’t have a downside for any sector of the economy.