As part of our mission, we offer resources for a broad range of stakeholders, including commercial property owners, local governments, private contractors, PACE service providers, and homeowners. Click on a category below to learn more.
PACE and Open Market Financing December 14, 2011
Marketing PACE to Commercial Property Owners January 18, 2012
The Sonoma County Commercial PACE Story February 15, 2012
Implementing Residential PACE March 21, 2012
New Developments in PACE Programs July 26, 2012
Strategy Call – Response to FHFA’s Proposed Rule on PACE August 6, 2012
Getting the Biggest Bang for the Buck: Exploring the Rationales and Design Options for Energy Efficiency Financing Programs. December 2013. Lawrence Berkeley National Laboratory. Zimring, Mark, Merrian Borgeson, Annika Todd, and Charles A. Goldman
New Financing Solutions for Energy Retrofits. November 2013. Chris Olson. BUILDINGS.
Navigating the Financing Labyrinth: Approaches to Funding Energy Efficiency in Commercial Buildings. October 2013. Chris Olson. BUILDINGS.
Feldman, David, Galen L. Barbose, Robert Margolis, Naïm Darghouth, Ted James, Samantha Weaver, Alan Goodrich, and Ryan H. Wiser. Photovoltaic System Pricing Trends: Historical, Recent, and Near-Term Projections – 2013 Edition., 2013. Download: PDF
Realizing the Energy Efficiency Potential of Small Buildings. June 2013. Preservation Green Lab.
Home Energy Efficiency and Mortgage Risks. March 2013. Institute for Market Transformation. Bob Sahadi, Sarah Stellberg, Chao Yue Tian, Nikhil Kaza, Roberto Quercia.
Setting The PACE: Commercial Retrofit Financing. Johnson Controls Institute for Energy Efficiency. Katrina Managan and Kristina Klimovich. February 2013.
Risk-Based Building Energy Modeling to Support Investments in Energy Efficiency. 2013. Ellen Franconi, Rocky Mountain Institute and Ron Nelson, Institute for Market Transformation.
Benchmarking and Energy Savings. Energy Star Portfolio Manager. Data Trends. 2008 -2011.
The BC Carbon PACE Bond. Geoff de Ruiter and Thomas Cheney, 2013.
Green Mortgages: Energy Efficient Mortgage Guide. mortgageloan.com 2013.
Attributing Building Energy Code Savings to Energy Efficiency Programs. February 2013. Institute for Market Transformation (IMT), Northeast Energy Efficiency Partnerships (NEEP), and Institute of the Edison Foundation.
Underwriting Energy Efficiency Financing in the Innovative Connecticut PACE Program. BEPA News. January 2013.
Financing Energy Efficiency in Massachusetts: Analysis of the Proposed Massachusetts Energy Conservation Project Fund. Executive Office of Energy and Environmental Affairs Department of Energy Resources. 2013.
Energy Efficiency Financing Models and Strategies. Pathways to scaling energy efficiency financing from $20 billion to $150 billion annually. March, 2012
Global Real Estate Sustainability Benchmark: Research Report 2011. Published 2012. Click here to view report summary.
State Clean Energy Finance Banks: New Investment Facilities for Clean Energy Deployment. Brookings – Rockefeller. Project on State and Metropolitan Innovation. 2012.
New York City’s First Benchmarking Report for the Private Sector. A Greener, Greater NYC. The City of New York Mayor Michael R. Bloomberg. August 2012. Click here to view report summary.
Energy Efficiency and the Rebound Dilemma. Institute for Energy Research. 2012.
Performance of LEED-Existing Buildings before and after their certification. Dr. Sofia Dermisi. January 29, 2012. Click here to view report summary.
United States Building Energy Efficiency Retrofits: Market Sizing and Financing Models. March 2012. Deutsche Bank and Rockefeller Foundation. Click here to view report summary.
Key Steps to Monetizing Building Portfolio Energy Savings Opportunities. BEPA News. Anthony J. Buonicore, P.E., BCEE , QEP. July 2012. Click here to view report summary.
Energy Efficiency Retrofit Financing Options for the Commercial Real Estate Market. Anthony J. Buonicore, P.E., BCEE , QEP. July 2012. Click here to view report summary.
Emerging Best Practice for Underwriting Commercially-Attractive Energy Efficiency Loans. Anthony J. Buonicore, P.E., BCEE , QEP. July 2012. Click here to view report summary.
The Value of Green Labels in the California Housing Market: An Economic Analysis of the Impact of Green Labeling on the Sales Price of a Home. Nils Kok & Matthew Kahn. 2012. Click here to view report summary.
Driving Transformation to Energy Efficient Buildings. Institute for Building Efficiency. Johnson Controls. 2012.
Innovations and Opportunities in Energy Efficiency Finance. Wilson Sonsini Goodrich & Rosati. May 2012.
Recognition Of Energy Costs and Energy Performance in Real Property Valuation. The Appraisal Institute and Institute for Market Transformation. 2012.
Closing the Energy Efficiency Gap: An Empirical Analysis of Property Assessed Clean Energy. Aubrey Justin Kirkpatrick. 2012.
Building Energy Management: Using Data as a Tool. Johnson Controls Institute for Building Efficiency. October 2010
Economic Impact Analysis of Property Assessed Clean Energy. EcoNorthwest: Randall Pozdena, PhD Senior Economist and Managing Director, and Alec Josephson MA Senior Economist and Director of Economic Impact Modeling 2011. Click here to view report summary.
Energy Efficiency and Commercial-Mortgage Valuation. Dwight Jaffee, Richard Stanton, and Nancy Wallace (Haas School of Business, UC Berkeley). 2011. Click here to view report summary.
An Analysis of the Effects of Residential Photovoltaic Energy Systems on Home Sales Prices in California. Ben Hoen, Ryan Wiser, Peter Cappers and Mark Thayer. Ernest Orland Lawrence Berkeley National Laboratory. 2011.
Energizing Property Value: Putting a Value on Energy Efficient Buildings. Gerrit Leopoldberger, Sven Bienert, Wolfgang Brunauer, Kerstin Bobsin, Christina Schutzenhofer. The Appraisal Journal. Vol 79 (2). Spring 2011.
What Have we learned from energy efficiency financing programs? ACEEE. Sara Hayes, Steven Nadel, Chris Granda, and Kathryn Hottel. September 2011.
The Economic Impacts of the Regional Greenhouse Gas Initiative on Ten Northeast and Mid-Atlantic States. Paul J. Hibbard, Susan F. Tierney, Andrea M. Okie, Pavel G. Darling. Analysis Group. 2011.
A Study on the Effects of Proposed Changes in Accounting Standards for Leas es on Investment in Energy Efficiency Retrofits in the United States. Institute for Building Efficiency. 2010.
Greenhouse Gas Emissions Calculator Guide. Green Star. October 2010
The Formidable Challenge of Building Energy Performance Benchmarking. BEPA News. Anthony J. Buonicore, P.E., BCEE , QEP. July 2010.
Emerging Building Energy Performance Regulations and Industry’s Response. BEPA News. Anthony J. Buonicore, P.E., BCEE , QEP. December 2010.
A landmark sustainability program for the Empire State Building. Johnson Controls, Clinton Climate Initiative, Jones Lang LaSalle, Rocky Mountain Institute. 2010.
PACE: Helping Achieve Environmental Sustainability and Energy Independence, Improving Homeowner Cash Flow and Credit Profile, Protecting Mortgage Lenders, and Creating Jobs. The National Resources Defense Council, PACE Now, Renewable Funding, LLC, and The Vote Solar Initiative. 2010.
Johnson Controls 2010 Energy Efficiency Indicator: Global Survey Results. Johnson Controls. 2010.
Johnson Controls 2010 Energy Efficiency Indicator: North America Survey Results. Johnson Controls. 2010.
The Constitutionality of Property Assessed Clean Energy (PACE) Programs Under Federal and California Law.
A White Paper. Ranchod, S., Yung J.E.C., Hart, G. E., & Hastings, P. (Janofsky & Walker LLP). 2010.
Economic Impacts from the Boulder County, Colorado, ClimateSmart Loan Program: Using Property-Assessed Clean Energy Financing. Marshall Goldberg and Jill K. Cliburn (MRG & Associates) & Jason Coughlin (National Renewable Energy Laboratory). 2010.
Community Energy-efficiency Retrofit Programs: A National Survey. Alexis Rourk Reyes and Ann D. Solomon. Retrofit NYC Block by Block. 2010.
Measurement and Verification (M&V) Primer. Better Buildings Partnership. MC Consultants UK. 2010.
Solid-state lighting: an energy-economics perspective. J Y Tsao, H D Saunders, J R Creighton, M E Coltrin and
J A Simmons. Journal of Physics. 2010.
Unlocking Energy Efficiency in the U.S. Economy. McKinsey Global Energy and Materials. 2009.
Certified Home Performance: Assessing the Market Impacts of Third Party Certification on Residential Properties. Ann Griffin, Earth Advantage Institute. 2009.
Doing Well by Doing Good? Green Office Buildings. Piet Eichholtz, Nils Kok and John M. Quigley. University of California Energy Institute’s Center for the Study of Energy Markets (CSEM) Working Paper Series. 2009.
Recovery Through Retrofit. Middle Class Task Force Council on Environmental Quality. 2009.
Evidence of Rational Market Valuations for Home Energy Efficiency. Nevin, R. & Watson, G. The Appraisal Journal. 1998.
How to get a program started?
PACE Program Administration Templates:
PACE Handbooks and Program Materials:
Connecticut Commercial PACE Handbook. CEFIA Commercial PACE program. November, 2012.
Energize New York Handbook. New York PACE Program. September, 2012.
San Francisco Program Handbook. GreenFinance SF, San Francisco PACE program. 2012.
D.C. Program handbook. D.C. Commercial PACE program. 2012.
PACE handbook Ann Arbor. Ann Arbor PACE Program. 2012.
Property Assessed Clean Energy (PACE) Replication Guidance Package for Local Governments. Sonoma County Energy Independence Program. 2012.
Guidelines for Pilot PACE Financing Programs. The Department of Energy. 2010.
How to put legislation in place?
A comparative chart of PACE-enabling legislation. Compiled by PACENow.
Strategies for Passing Property Assessed Clean Energy (PACE) Enabling Legislation. Power Point prepared by Sierra Club, Renovate America, NRDC, PACENow, VoteSolar, and Renewable Funding. 2010.
Template for PACE Letter to State Legislator. PACENow. 2010.
Property Assessed Clean Energy (PACE) Enabling Legislation: Ten Key Components of PACE Legal Authority. PACENow, Renewable Funding, Vote Solar. 2010.
One component of our mission is to serve as the trusted source for information about PACE, primarily through our website, webinars, and newsletter. We are committed to offering our stakeholders up-to-date information on PACE programs and energy efficiency industry through our regular newsletters. Please subscribe to our newsletters at the bottom of the website.
Volume 1, Issue 1: PACE Update: Focus on Florida
Volume 1, Issue 2: PACE in Connecticut
Volume 1, Issue 3: PACE in Edina, Minnesota
Volume 1, Issue 4: FHFA Rulemaking Webinar and Brief Background
Volume 1, Issue 5: New Residential PACE Launch is a Success
Volume 1, Issue 6: New PACE Program Launching in California
Volume 1, Issue 7: Webinar: PACE and Third Party Ownership Model
Volume 1, Issue 8: C-PACE in San Francisco: Prologis funds energy upgrades with PACE
Volume 1, Issue 9: CRE Lenders Talk About PACE
Volume 2, Issue 1: PACENow Market Update
Volume 2, Issue 2: PACE Market Overview Paper Released
Volume 2, Issue 3: PACENow Market Update
Volume 2, Issue 4: PACE Bill Passed in Utah: Success Story
Volume 2, Issue 5: PACE Bill Passes in Arkansas: Learn How It Was Done
Volume 2, Issue 6: PACE Market Update: Time To Take Action
Volume 2, Issue 7: PACENow Market Update
Volume 2, Issue 8: PACENow Market Update
Volume 2, Issue 9: PACENow Market Update: PACENow Released Its Annual Report
Volume 2, Issue 10: PACENow Market Update
Volume 2, Issue 11: PACENow Market Update
Volume 2, Issue 12: PACENow Market Update
Volume 2, Issue 13: PACENow Market Update
Volume 2, Issue 14: PACENow Market Update
Volume 2, Issue 15: PACENow Market Update
Volume 2, Issue 16: PACENow Market Update, The Holiday Edition
Volume 3: Issue 1: PACENow January Market Update
Volume 3: Issue 2: PACENow Video Release
- April: 2014 Building Energy Summit. D.C. April 1. Learn more.
- May: IMN’s 2nd Annual Sunshine Backed BondsTM Conference. Learn more.
- May: 2014 ACEEE Energy Efficiency Finance Forum. D.C. May 11-13. Learn more.
Our mission is to provide impartial leadership for a broad coalition of stakeholders and serve as a trusted source of information on PACE. In order to fulfill this mission, we developed a number of communication materials to enable our stakeholders to better market PACE.
PACE Basics (PDF) presentation developed for a brief introduction to PACE
PACE for Property Owners (PDF) presentation developed specifically for property owners
What is PACE? - 1 page handout. Are you looking to explain PACE to a building owner, local government official, or your existing lender? PACE 1-pages provides basic information about the financing mechanism.
About PACE Presentation: an introductory presentation focused on commercial PACE
PACE Case Studies:
Chico, CA: Figtree Financing rooftop solar industrial building upgrade
The industrial building, located in Chico, CA, was eligible for Property Assessed Clean Energy (PACE) financing. All commercial building owners in Chico, Butte County, and an expanding area across California, can choose to use Figtree PACE financing to pay for energy efficiency, renewable energy, or water conservation improvements over a period of 20 years. The building, constructed in 2009, did not require energy efficiency upgrades, however, given the substantial roof space, solar PV was a valuable solution. While the building owner was familiar with solar financing options and aware of the benefits, he was looking for an effective and time sensitive solution to take advantage of solar incentives before the end of 2013.
Fresno, CA: Figtree Financing facilitates Class A office buildings upgrades
Figtree Financing, a California based clean energy financing company, provides PACE funding for energy efficiency and renewable energy improvements in 46 municipalities across the state, including Fresno. Three Class A office buildings in Fresno were acquired 20 years ago and the time came to undertake some improvements. All buildings house long term tenants including many of the area’s largest law firms, and national and worldwide banks, investment brokerages, and insurance companies. The building owner was attracted to zero up-front cash investment and long term nature of PACE financing. This project resulted in a successful installation of the necessary roof membrane and low-wattage lighting.
The Edina Emerald Energy Program provides an upfront financing that borrowers pay back as a voluntary special assessment on their property taxes. Salut Bar Americain is one of the Edina’s most popular neighborhood restaurants known for its great service and carefully chosen eclectic French menu. The Salut’s owner, Parasole Restaurant Holdings, had recently installed LED lighting and energy-saving hood vent controls in two new restaurants in the Minneapolis St Paul region.
Figtree PACE program provides PACE financing to help commercial and residential property owners improve their properties and lower their utility bills with energy efficiency, renewable energy and water conservation upgrades. This case study features two industrial properties in Fresno, CA upgraded with retrofit funding arranged by the Figtree Financing. The building owner, Mr. Miller, expands on his reasoning behind using PACE financing: “I chose Property Assessed Clean Energy financing because it enabled us to make improvements to our facilities with no money down. And the long term financing helped keep the cost of the upgrades to a minimum. Overall we were able to get new equipment with little impact to our operating income.”
Los Angeles County, CA: LA County PACE Program Facilitates Teamster’s Meeting Hall Upgrade
LA County PACE Program offers energy efficiency and renewable energy financing to wide range of properties, including office, industrial, retail facilities, hotels, churches, non-profits, and multifamily buildings. The International Brotherhood of Teamsters, one of the world’s largest labor unions, took advantage of PACE financing to save money and make its local hall more sustainable. This upgrade resulted in an estimated monthly electric bill reduction from $2,500 to $10.
The Toledo-Lucas Port Authority extended nearly $12 million in PACE financing to commercial and municipal properties. The Port Authority, a quasi-government entity, is running a successful PACE program encompassing the cities of Toledo and Oregon. This project was a perfect opportunity to demonstrate the Port Authority’s leadership and promote the PACE mechanism by using it on its own building.
Sonoma County, CA: Simon Property Group Takes Advantage of PACE Financing
In 2009, PACE was still a relatively new idea and Simon Property Group immediately recognized the benefits of long-term, property tax like structure. The building manager was motivated by economic savings and a desire to support sustainability in general. Sonoma County’s PACE program financed over $64 million in commercial and residential projects to date.
Connecticut: C-PACE program case study
Connecticut’s statewide PACE program has been extremely successful in completing projects and enrolling municipalities. A mall owner in Norwalk, CT was looking for the most beneficial financing solution to pay for energy efficiency and renewable energy improvements. This project resulted in 158,000 lb in avoided greenhouse gas emissions and estimated annual savings of $17,500.
Washington, DC: A Multifamily Property Uses PACE
This DC PACE project demonstrates PACE application to an affordable multifamily housing property. This property is part of HOPE VI program administered by the US Department of Housing and Urban Development (HUD). Units within the building are individually metered and the tenants’ electricity bills are subsidized through the HUD utility allowance program. Learn more about this $340 thousand PACE project.
Ann Arbor, MI: Ann Arbor’s Big Boy restaurant retrofit
Shortly after Michigan adopted PACE legislation, a commercial PACE program was launched in Ann Arbor. The City is known for its commitment to sustainability. In 2013, the City issued a nearly $500 thousand bond to fund energy efficiency improvements to four properties, the Big Boy restaurant was one of these properties.
San Francisco, CA: PACE Funded Retrofit of Prologis HQ
Prologis Inc., the world’s leading owner, operator & developer of industrial real estate,was
looking to implement energy efficiency and renewable energy upgrades at its headquarters in
San Francisco. Prologis chose to pay for energy efficiency and renewable energy upgrades with PACE because it provide long-term financing without any upfront cash needed.
A list of websites for national non-profits, research institutes, and industry associations related to energy efficiency and renewable energy.
WSJ: Keeping PACE with Clean Energy
Clinton Global Initiative: Bill Clinton speaking on PACE
Vice-President Biden speaking about PACE
Sonoma County Energy Independence Program (SCEIP)
There is a broad coalition of PACE supporters, which consists of non-profits, counties, cities, government officials, industry organizations, businesses, and research institutes. Some of them are listed below.
Alliance to Save Energy, Affordable Housing for the Future, Climate Communities, Clinton Global Initiative, Environmental Defense Fund, Natural Resources Defense Council, Sierra Club, Vote Solar Initiative.
American Council for an Energy Efficiency Economy, Appraisal Institute, Center for American Progress, Energy Efficiency Institute, Efficiency First, Institute for Building Efficiency, Institute of Market Transformation, Jack D. Hidary Foundation, Living Cities, New Building Institute, Renewable and Appropriate Energy Laboratory, Solar Energy Industries Association, United States Green Building Council.
AFL-CIO, Apollo Alliance, Bipartisan Policy Center, Leading Builders of America, National Association of Real Estate Investment Trusts (NAREIT), Polyiso Insulation Manufacturers Association, Real Estate Roundtable, Solar Electric Industries Association, U.S. Chamber of Commerce, U.S. Green Building Council.
Abundant Power, Blue Hill Partners LLC, Clean Fund, Energi Inc., Green Campus Partners, Greenwood Energy, Johnson Controls Inc., Metrus Energy, Pacific Gas and Electric Company, Renewable Funding LLC, Renovate America, Samas Capital, Serrafix Corp, Southern California Edison, Ygrene Fund.
Municipalities & state EE corporations:
City of Annapolis, MD; Association of Bay Area Governments;City of Berkeley, CA; County of Boulder, CO;
California Energy Commission; County of Montgomery, MD; County of San Diego, CA; City of San Jose, CA;
City of Sonoma, CA; City of Sacramento, CA; Vermont Energy Investment Corp.; CEFIA.