About PACENow

PACENow Mission

PACENow’s mission is to promote the use of Property Assessed Clean Energy finance as a powerful tool to drive energy retrofits of our nation’s homes and commercial buildings.  PACENow will play several critical roles in establishing this market:

  • Trusted Information Source: PACENow serves as the trusted source for information about PACE, primarily through our website and webinars.
  • Network Building: PACENow facilitates discussion and networking among advocates for energy projects and PACE.
  • Standardization and Best Practices: PACENow assists in developing and disseminating best practices, guidelines and standards for PACE.
  • Private Capital Markets: PACENow is leading work with banks and other capital providers to develop prototype financings and explore ways to more efficiently access the private capital markets and develop a PACE asset class.
  • Leadership: PACENow provides impartial leadership for a broad coalition of governments, elected representatives, national municipal associations, trade organizations, businesses and business councils, environmental groups,  and private individuals who support the PACE movement.

 

PACENow’s Leadership

PACENow was established in 2008 by Jeffrey Tannenbaum, the founder and President of Fir Tree Partners, a New York City based global value investment firm.  His interest in energy policy coalesced around gaining energy independence for our nation by promoting EE/RE projects for buildings with funding provided by our private capital markets.  The federal government and many states have clearly defined goals for energy conservation that are expressed in laws and formal policies.  Jeff recognized the power of a pilot program in California that used traditional municipal land secured benefit financing to achieve EE/RE goals, created the PACE acronym, and formed PACENow to broaden awareness and adoption of PACE programs.  Prior to November 2010, PACENow’s efforts were led on a pro bono, part-time basis by Jeff, with help from others at Fir Tree and a coalition of early PACE advocates including among others, PACE program pioneers, the Natural Resources Defense Council, and Vote Solar Initiative.

 

David Gabrielson was hired as PACENow’s first Executive Director in November 2010.  He was introduced to PACE while developing Energize Bedford, an EE/RE financing program for the Town of Bedford (NY) where he has served as an elected Councilman since 2008.  David previously spent over 20 years in public finance banking at Credit Suisse First Boston and J.P. Morgan, helping state and local governments raise money for a wide range of capital projects.  He serves on the Energize Bedford Board and the Board of the Northern Westchester Energy Action Consortium, and is currently developing a Bedford pilot PACE program for the Consortium that is focused on commercial and residential buildings that are not subject to FHFA and GSE policies.

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Congresswoman Nan Hayworth (R-NY)

“PACE programs allow homeowners to make energy-saving modifications on their houses through a voluntary assessment on their property, at no cost to local taxpayers. Our bill facilitates participation by homeowners in states with PACE programs, which will promote conservation, energy savings and job creation.”

Congressman Dan Lungren (R-CA)

“My colleagues and I are fighting for a common sense program that would both increase the value of homes involved and help create jobs in our region. The time is now, more than ever to pass legislation that will accomplish this goal.”

Congressman Mike Thompson (D-CA)

“PACE promotes energy efficiency in ways that are good for our country, economy, and environment, saving property owners money by lowering energy costs and more importantly, creating jobs without taxes or government subsidies. Congresswoman Hayworth, Congressman Lungren, and I are committed to protecting PACE for the future.”

Mayor Jerry Sanders (R-San Diego)

“I am honored to be one of our nation’s first Mayors to support PACE. San Diego plans to derive strong long term advantages through PACE programs and we urge the rest of our nation, on a bipartisan basis, to join us.”

Gov Bill Ritter (D-CO)

“PACE is already creating economic opportunity, energy savings, and environmental benefits through the retrofit of residential and commercial building stock.”

Mayor Michael Bloomberg (I-NYC)

“A New York City PACE program providing property owners with the upfront capital to make energy efficiency retrofits will create jobs and reduce energy costs for residents and businesses.”

Gov Arnold Schwarzenegger (R-CA)

“With PACE, we are providing homeowners and business owners with powerful tools to take control of their energy use and create jobs at the same time”

Adam Hasner (R-FL)

“PACE provides a no-cost to taxpayers, no-mandate, consumer opt-in approach to bringing clean energy technology to homeowners and businesses. PACE will help create jobs for Floridians at a critical time when we are working to get Florida’s economy back on track.” Adam Hasner led passage of Florida's PACE legislation as Majority Leader of the State House of Representatives