property assessment clean energy (pace) financing
DESCRIPTION
TRANSCRIPT
Energy Efficiency Financing
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PACE FINANCING DISTRICTS
Learning Objectives
1. Explain what's holding up energy efficiency investments today. 2. Compare the various influences that impact energy efficiency investments.3. Define the approach owners use in assessing investment risk in energy efficiency project. 4. Explain property assessed clean energy programs, how they work and how to use them to finance energy efficiency projects.
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Growing Model
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LOCAL GOVERNMENT:Form District Under State
PACE Legislation
LOCAL TRADES:Utilize the Fund to
Market Projects
PROPERTY OWNERS:Access the Fund to
Finance Projects
Form a Public Private Partnership
What are the mechanics of PACE?
Property Owners:•Voluntary to participate •Utility bills decrease due to energy and water savings •Little or no upfront costs for upgrades •Payments are low and fixed
Local Governments:•Elect to participate •Promotion of increased energy and water capacity to prospective employers •No risk to general fund •Substantial progress in achieving water and energy consumption reduction goals
How it Works?
© 2011 Ygrene Energy Fund All Rights Reserved
PACE Case Studies
City Program Type Projects Funding Notes
Palm Desert Energy Independence Program (CA)
PACE; Residential & Commercial
220 (Res = 216, Comm = 4)
$7.5M 8.4% job growth in construction trades
ClimateSmart – Boulder County (CO)
PACE; Residential
598 $20M Launch 2009; 126 short-term jobs; $125k savings for residents in 1st year
Sonoma County Energy Independence Program (CA)
PACE; Residential & Commercial
1,329 (Res = 1,290, Comm = 39)
$42M 5.3 MW; 3100 mtCO2; 54 job years
Long Island Green Homes – Town of Babylon (NY)
PACE; Residential
678 $5.6M Approx. 30 new full-time direct jobs (verified)
Berkeley PACE; Residential
13 projects completed
$336,552(7 ¾% interest)
Launched 11/5/089 mi.—40 App’s
Key Points of PACE Programs
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