Tag Archives: Renovate America

Two Bills Providing Increased Protection For PACE Customers

By Roy L Hales

Close to 150,000 Californian homeowners have made energy and efficiency improvements through Property Assessed Clean Energy (PACE) financing. For the most part they are success stories, but there are isolated reports of problems with “independent solar, plumbing and roofing contractors who pitch the loans and sign up consumers through online software.” The California state legislature responded with two bills providing increased protection for PACE customers. 
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Republican Senators Apply Alternate Facts To PACE Financing

By Roy L Hales

There have been some pretty strange “goings on” in Washington since the Republicans took over. Confronted with facts they didn’t like, the new administration came up with the concept of “alternate facts” that are more in line with the way they want people to think. This has gone beyond the White House. With the new Protecting Americans from Credit Exploitation (PACE) Act, three Republican senators apply alternate facts to PACE financing.

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Morningstar Approves Of PACE

By Roy L Hales

As the Wallstreet Journal once put it, “Morningstar stands alone” in their field. The Chicago based research firm has provided the leading qualitative and quantitative analysis of more than 540,000 investment stocks, mutual funds, and similar vehicles. Thus their opinion of the Property Assessed Clean Energy (PACE) program is weighty and their new report makes it obvious that Morningstar approves of PACE.

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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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EPA Recognizes Renovate America As A Climate Leader

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PMThe Environmental Protection Agency recognized three local governments for their “Innovative Partnerships” with a PACE provider in their 2016 Climate Leadership Awards. Their partner runs the HERO PACE program, the EPA recognizes Renovate America as a Climate Leader.

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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 Has Financed $1 billion of PACE projects

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PMRenovate America CEO J.P. McNeill does not give many press conferences. In fact, this is the first I have attended in the three years I have covered this company’s HERO PACE, but yesterday was a watershed. HERO has financed $1 billion of PACE projects.

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Supervisor Dianne Jacob Defends Rooftop Solar

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PM1Many hoped California’s net-metering war was ending two years ago, when Governor Jerry Brown signed Assembly Bill 327. The state’s Public Utilities Commission (CPUC) was given to the end of this year to create a new tariff that will kick in once the state’s big three investor owned utilities (PG&E, SCE and SDG&E) reach 5% nameplate generation capacity under net metering. With the deadline approaching,  the “big three” went on the offensive. One of the California Public Utilities Commission hearings was in San Diego, on Oct. 28, 2015. That was where County Supervisor Dianne Jacob Defends Rooftop Solar.

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Financing America’s Home Energy Revolution

By Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PMRenovate America has financed more than $950 million worth of solar power, energy-efficient HVAC/windows/roofing, water capture systems, and artificial turf projects since 2011. Their HERO PACE program has already been been used by 38,000 homeowners adopted by 347 Californian communities. Rumour has it that HERO will expand into other states next year. Homeowners who use this program do not have to put any money down, and can take up to 20 years to pay for improvements through their property taxes, but the trades must be paid immediately. This takes a lot of money. Renovate America raised another $90 million in Equity Investment. Financing America’s Home Energy Revolution takes a lot of money.

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PACE Will Be Available To All Americans

By  Roy L Hales

Screen-shot-2014-03-18-at-3.43.47-PM1In 2007, the City of Berkeley came up with an innovative program to hasten the adoption of solar technology. Homeowners could finance installations through their property taxes. Scientific American called it one of the top 20 “world-changing” ideas of the year. Unfortunately, the United States was going into a recession that started in the real estate sector. Fannie Mae and Freddie Mac felt threatened by the fact Property Assessed Clean Energy (PACE) loans are tax assessments, which take precedence over mortgages if there was a default. Their refusal to issue mortgages to homes in the PACE program severely hindered development outside of California. Now that has changed, the Federal Housing Authority (FHA) is developing the guidelines under which it will accept PACE funding. PACE will be available to all Americans.

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