property assessment clean energy (pace) financing

Energy Efficiency Financing

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PACE FINANCING DISTRICTS

Learning Objectives

1. Explain what's holding up energy efficiency investments today. 2. Compare the various influences that impact energy efficiency investments.3. Define the approach owners use in assessing investment risk in energy efficiency project. 4. Explain property assessed clean energy programs, how they work and how to use them to finance energy efficiency projects. 

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Growing Model

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LOCAL GOVERNMENT:Form District Under State

PACE Legislation

LOCAL TRADES:Utilize the Fund to

Market Projects

PROPERTY OWNERS:Access the Fund to

Finance Projects

Form a Public Private Partnership

What are the mechanics of PACE?

Property Owners:•Voluntary to participate •Utility bills decrease due to energy and water savings •Little or no upfront costs for upgrades •Payments are low and fixed

Local Governments:•Elect to participate •Promotion of increased energy and water capacity to prospective employers •No risk to general fund •Substantial progress in achieving water and energy consumption reduction goals

How it Works?

© 2011 Ygrene Energy Fund All Rights Reserved

PACE Case Studies

City Program Type Projects Funding Notes

Palm Desert Energy Independence Program (CA)

PACE; Residential & Commercial

220 (Res = 216, Comm = 4)

$7.5M 8.4% job growth in construction trades

ClimateSmart – Boulder County (CO)

PACE; Residential

598 $20M Launch 2009; 126 short-term jobs; $125k savings for residents in 1st year

Sonoma County Energy Independence Program (CA)

PACE; Residential & Commercial

1,329 (Res = 1,290, Comm = 39)

$42M 5.3 MW; 3100 mtCO2; 54 job years

Long Island Green Homes – Town of Babylon (NY)

PACE; Residential

678 $5.6M Approx. 30 new full-time direct jobs (verified)

Berkeley PACE; Residential

13 projects completed

$336,552(7 ¾% interest)

Launched 11/5/089 mi.—40 App’s

Key Points of PACE Programs

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Questions?

Ben Taube, Regional DirectorYgrene Energy Fund

404-931-1518Ben.taube@ygrene.us

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