16 Jul '12, 10am

A PACE Rebirth? Sacramento and Ygrene Try to Unlock Green Homes: Property assessed clean energy, or PACE, fina...

A PACE Rebirth? Sacramento and Ygrene Try to Unlock Green Homes: Property assessed clean energy, or PACE, fina...

Property assessed clean energy, or PACE, financing -- paying for home solar installations, energy efficiency retrofits and other green improvements through property taxes -- was all the rage a few years ago. Then, in 2010, Fannie May, Freddie Mac, and the Federal Housing Finance Agency decided that PACE payback obligations were problematic when combined with residential mortgages, putting the whole idea into legal limbo , and the industry into a stall. Programs in 23 states were canceled or cut short. Since then, we’ve seen multiple approaches emerge to unlocking the legal snarl that’s preventing PACE from moving forward, whether via court challenge , or by delivering the same financial benefits of PACE via different structures, like utility bills. Now, California’s state capital, Sacramento, is about to get the ball rolling on a new version of PACE financing that could un...

Full article: http://www.greentechmedia.com/articles/read/a-pace-rebirt...

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