New Jersey PACE, a NJ-based 501c3 nonprofit, is ready to assist your municipality or county improvement authority in creating a local PACE program that meets the state requirements, at no cost to taxpayers and tailored to your needs. Please contact Executive Director Jonathan Cloud at 908-581-8418 or [email protected] for more information.
You can also implement your program by following our step-by-step guide for municipalities.
According to industry estimates:
- Every $10 Million spent on PACE projects results in 150 new jobs.
- $10 Million invested in retrofits adds $25 Million to the local economy and as much as $2.5 Million in additional tax revenue.
- $20 Million spent adds a megawatt of renewable electrical generation and eliminates 600 tons of CO2 emissions.
Specifically, according to the City of St. Louis’ Set the Pace site:
- Several PACE programs around the country have seen significant successes in lowering energy costs and carbon emissions while stimulating job creation. In four years of operation, Sonoma County California’s PACE program has funded $61 million of clean energy projects with an estimated 745 jobs either created or retained.
These numbers translate to between $67,000 and $82,000 of investment — which is incidentally saving money and creating more sustainable properties — for every job.
The availability of the NJ PACE Program as described here depends on municipal participation through the establishment of a PACE Program by ordinance. For general details on the operation of the program, please see our Services page. We now have a kit for municipal administrators — available on request — including a model ordinance and a sample participation agreement, in addition to the program handbook and other materials. (Email [email protected] for more details or to request this kit.)
We work with Municipal officials in communities throughout New Jersey, to assist them in establishing local PACE programs and obtaining approval from DCA. If your city or town would like to join, and accept applications for PACE projects in your community, please contact us.
The Program will seek Municipal participation for any initial project application submitted where such participation is not already established, but cannot and does not guarantee that such an approval will be obtained, or obtained in a timely manner.
In the absence of such participation, the project cannot be accepted by the Program. The Program shall have no liability with respect to such Municipal participation and the applicant shall have no claims against the Program in connection with such participation.
We’re currently updating our step-by-step guide based on the latest best practices from around the country. Please contact us for the latest Model Ordinance, and a New Jersey PACE Participation Agreement, as well as other details of our public-spirited role.
 Cf. Randall Pozdena & Alec Josephson: “Economic Impact Analysis of Property Assessed Clean Energy Programs (PACE),” Research Performed by ECONorthwest for PACENow, April 2011. According to the authors,
If one viewed the PACE program as a jobs stimulus program (akin to those pursued at public expense under American Recovery and Reinvestment Act of 2009), the cost per job at $67,000 is quite modest. In fact, of course, in the PACE program the only significant role of government is to authorize a financing mechanism to overcome what some believe to be non-economic impediments to credit access.
In other words, this approach to job creation requires no government expenditure.