Tag Archives: PACE in California

Michigan’s 6th Commercial PACE Project

By Roy L Hales

Michigan passed the legislation for a Commercial PACE (Property Assessed Clean Energy) program in 2010. Businesses and commercial properties in participating municipalties can retrofit their buildings with renewable energy and energy efficient systems by borrowing money from a private lender and repay the loan via a special assessment on their local property tax. It has taken longer for municipalities to opt in and consequently, the state’s PACE programs didn’t really get started until 2016. According to Tommy Deavenport, Chief Operating Officer of Petros PACE Finance, Michigan’s 6th commercial PACE project has now been funded.

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The United States’ New PACE Guidelines

By Roy L Hales

screen-shot-2014-03-18-at-3-43-47-pm1The United States largest Property Assessed Clean Energy (PACE) providers do not anticipate any complications. Both Renovate America and Ygrene believe they are already inline with most of what the government is suggesting. After months of review, the Department of Energy (DOE) released the United States’ PACE Guidelines.

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Ygrene’s $250 Million PACE Virtual Facility

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PM1Two months ago, CEO Stacey Lawson announced her company’s plan to expand into six U.S. states. This was followed up by the news, a few days ago, of Ygrene’s $250 million virtual PACE facility for expansion.

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Ygrene Expects To Quadruple Its’ Business

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PMYgrene operates one of America’s largest property assessed clean energy (PACE) financing programs and it is about to get much bigger. They just raised $30 million in operating capital to finance their expansion into six states. According to President and CEO Stacey Lawson, Ygrene expects to quadruple its’ business.

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America’s First PACENation Summit

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PMThere are almost 400 registrants, from 35 or 36 states, all keenly aware that the US government is about to partially remove a hindrances that have kept residential Property Assessed Clean Energy (P.A.C.E.) financing from spreading throughout the nation. George Caraghiau said, “I’ve been to so many conferences in my life, but I cannot believe the excitement I am feeling at this conference.” David Gabrielson, Executive Director of PACENation, added,1People are excited about the impact this will have on job creation, climate change…”  They were speaking from America’s First PACENation Summit.

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  1.  Roy L Hales interview with  David Gabrielson, Executive Director of PACENation, & George Caraghiau, Senior Fellow, PACENation

HERO PACE’s Fastest Growing Market Is LA

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PMEric Garcetti has long been an advocate of clean energy. During his many years as a city counsellor, he wrote Los Angeles’ green building ordinance.  As mayor, Garcetti promised to create 20,000 clean energy and clean water sector jobs during his first term (2013-2017). In April 2015, he launched the city’s new sustainability plan (the “pLAn”) to reduce city-wide greenhouse gas emissions by 45% by 2025, and become the first major US city to achieve zero-waste. Thus it is not surprising to find that LA is HERO PACE’s fastest growing market.

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Renovate America’s fifth securitization

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PMSince 2011, Renovate America has financed more than $1 billion in home improvements through its’ HERO program. This is a significant investment, paid back over twenty years. Thus it is not surprising to read about Renovate America’s fifth securitization of PACE bonds.

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HERO PACE is now operational in +160 Californian communities

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PM1On Wednesday San Diego Supervisors Dianne Jacob and Dave Roberts joined San Diego City Council President Todd Gloria and representatives from the HERO PACE program and a local solar company on the steps outside the County Administration Center. They announced that the HERO PACE energy- and water efficiency program will now be available in San Diego (city), El Cajon and Escondido, as well as the unincorporated parts of San Diego County. It is a scene that has been repeated in many communities throughout California recently. HERO PACE is now operational in +160 Californian communities.
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More than 90% of Residential PACE Installations are made Through HERO

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PM1The Property Assessed Clean Energy (PACE)program is spreading across the US. Maine offers single PACE loans for up to $15,000 and New Hampshire is preparing to life its cap to $1 million. There is a PACE program in Ann Arbor and another being formed to service the rest of Michigan. PACE programs are starting up in Arkansas , Florida, Georgia, Hawaii, Illinois, Louisiana, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New Mexico, New York, Ohio, Rhode Island, Texas, Utah, Virginia and Wisconsin. Eighty percent of the US is said to be adopting . However the program is still primarily Californian and, according to company spokesperson Severn Williams, more than 90% of residential PACE installations are made through HERO.
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Bringing PACE to Texas

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PM1What should commercial Property Assessed Clean Energy (PACE) financing look like in Texas? Hundreds of local PACE programs in California, are consolidating under several competing PACE models. On the other extreme, Connecticut’s new state run program was responsible for half the commercial PACE financing in the US last year. Thirty states and the district of Columbia currently have PACE programs. As Charlene Heydinger, Executive Director of “Keeping PACE in Texas” (KPT), explained, “We want state-wide model specifically designed for Texas’ needs.”
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