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PACE  is  Property  Assessed  Clean  Energy,  a  bipartisan, local government initiative that allows property owners to finance  energy efficiency  and renewable  energy projects  for their  homes  and  commercial  buildings,  simply  and  with  no government subsidies.

PACE is Voluntary.   Interested owners opt-­‐in to receive financing   that  is  repaid   through   an  assessment   on  their property  taxes for up to 20 years.   This spreads  the cost of energy  improvements   –  weather-­‐sealing,  better  insulation, more  efficient   heating   and  cooling   systems,   solar installations,  etc.  –  over  the  expected  life  of  the improvements  and  allows  the  repayment  obligation  to transfer  automatically   to  the  next  property   owner  if  the building     is     sold     (along     with     the     benefits     of     the improvements).

Why PACE?  

PACE solves two key barriers that hinder adoption of energy efficiency and small-­‐scale renewable energy.    Long-­‐term financing eliminates the upfront cost barrier and assessments that transfer  to a new owner upon sale ensure that current and future  owners  pay fairly for improvements  that remain with the property.   Unlike state or utility sponsored programs that seem distant and bureaucratic, PACE programs provide a way  for  local  communities  to  sponsor  programs  that  meet their individual needs.

How PACE Works

PACE  uses the same  kind of land-­‐secured  financing  districts that American  cities and towns  have relied  on for over 100 years  to  pay  for  improvements  in  the  public  interest.  Over 37,000  land  secured  districts  already  exist  and  are  a  safe  and  familiar  tool  of  municipal  finance  for  street  paving,  parks, open  space,  water  and  sewer  systems,  street  lighting,  and seismic strengthening, among others.

PACENow is an independent advocacy group for property assessed clean energy, a private capital market solution to financing  energy  efficiency  and renewable  energy  projects that does not require government subsidies or taxes.

PACE is Unique

•  Creates  permanent  jobs nationwide  and  across  a  range of skills.

•  Uses  private  capital  for  funding  – requires NO taxes or government subsidies.

•  Voluntary  –  only  opt-in in  participants  receive  benefits and agree to pay assessments.

•  Promotes    energy    security without    federal regulation or taxes that drive up energy costs.

•  Saves  money  and  increases  value  –  efficiency  and renewable projects make buildings more valuable

•  No  upfront  cost  -­‐  PACE  financing  spreads  costs  over the life of improvements.

• Assessment   can   transfer   on   sale – new   owner benefits   from   improvements   that   stay   with   the property.

•  Avoids costly power plants – difficult to site.

•  Improves air quality – makes communities healthier.

PACE Supporters Are Saying:

“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.”   Mayor  Jerry Sanders (R-­‐San Diego)

“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”      Gov   Arnold Schwarzenegger (R-­‐CA)

“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.” Mayor Michael Bloomberg (I-­‐NYC)

“PACE is a nocost to taxpayers, no-mandate, consumer opt-in approach that brings 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 (R-FL), former Majority Leader, FL House of Representatives

“PACE is already creating economic opportunity, energy savings, and environmental benefits through the retrofit of residential and commercial building stock.” Gov Bill Ritter (D-CO)