An update on PACE financing

Date: 5 Jan 2011 | posted in: Energy, Energy Self Reliant States | 0 Facebooktwitterredditmail

This update is from an email sent by Renewable Funding’s Cisco DeVries, outlining the hopes for PACE in 2011:

Litigation Moves Forward.  The first Court orders regarding elements of the PACE lawsuits were issued by Judge Claudia Wilken on December 20th.  The orders cover Sonoma County’s request for a preliminary injunction and the Court’s desire for the US Department of Justice to weigh in.  The court has not yet made any decisions on the motions. However, while the judge stated that she was not inclined to require FHFA to affirmatively support PACE at this early stage of the case, she indicated that she was considering whether to order Federal Housing Finance Agency (FHFA) to begin a formal rulemaking process regarding PACE. We will certainly pass along any more information as it develops so that the PACE community can be ready to provide detailed comments.  You can also check the www.PACENOW.org website for updates.

Legislation Moves Forward.  While Congress did not take action on the PACE legislation that was introduced in 2010, work is continuing to prepare for the next session.  There are plans for new, bi-partisan, PACE legislation to be introduced early in the year.  Will send another update when this moves forward.

Commercial PACE Moves Forward.  While residential PACE has mostly (but not entirely) been put on hold, a number of jurisdictions are moving forward with commercial programs.  For example, Boulder County recently issued its first bond for commercial PACE and will now be funding the first 29 projects. Sonoma County continues to fund commercial projects and Los Angeles and Washington, DC are just two of the communities planning commercial programs in the new year.  To assist with this effort, the US Department of Energy just released a section of their “Finance Guide” (see chapter 13, drafted by Renewable Funding) to assist communities with designing commercial PACE programs.  Lastly, a report from the Clinton Climate Initiative, Lawrence Berkeley National Laboratory and Renewable Funding on existing and planned programs will be out soon.

PACENOW Hires Executive Director. PACENOW hired David Gabrielson as its new Executive Director.  David has extensive experience in public finance at leading firms such as CS First Boston and JP Morgan and is also a town councilman in Bedford, NY, where he worked to establish an energy efficiency and renewable energy financing program using PACE.  He has given the PACENOW website a facelift – check it out.  You can reach him directly at david.pacenow@gmail.com. 

Read More

Michigan the 24th State with a PACE Law, Will It Matter?

Date: 15 Dec 2010 | posted in: Energy, Energy Self Reliant States | 0 Facebooktwitterredditmail

Yesterday Michigan governor Jennifer Granholm signed the state’s Property Assessed Clean Energy (PACE) law, making Michigan the 24th state to enable cities and counties to provide financing for on-site renewable energy and energy efficiency improvements via the property tax system. … Read More

How Renewable Incentives Affect Project Ownership

Date: 6 Dec 2010 | posted in: Energy, Energy Self Reliant States | 0 Facebooktwitterredditmail

In less than a month, solar energy projects will see the stimulus-funded cash grant in lieu of the 30 percent tax credit expire.  The change back to tax-credit-financed projects provides a revealing look at the disadvantages of energy incentives based … Read More

PACE Lawsuits Up for Decision on December 2nd

Date: 23 Nov 2010 | posted in: Energy, Energy Self Reliant States | 0 Facebooktwitterredditmail

In mid-October, yet another municipality joined the growing list of lawsuits against the Federal Housing Finance Agency, Fannie Mae, and Freddie Mac over the popular Property Assessed Clean Energy (PACE) program.  Arguments in the court case will be heard next week.

A federal judge will consider next week whether to dismiss lawsuits questioning the Federal Housing Finance Agency’s decision to effectively shut down a White House-supported home energy efficiency program.

In a closely watched case, U.S. District Judge Claudia Wilken of the Northern District of California will hear arguments Dec. 2 over whether to dismiss several lawsuits against the agency, including one filed by the state of California.

I’m hopeful that the plaintiffs can win – PACE could really open the door to major improvements in home energy efficiency and expansion of distributed renewable energy.

Read More

While Many Wait for Stimulus, One City Borrows to Save Money

Date: 29 Oct 2010 | posted in: Energy, Energy Self Reliant States | 0 Facebooktwitterredditmail

Unlike many cities, Portland, Maine, has forged ahead with a significant energy efficiency plan without federal stimulus dollars.  Simply borrowing money through bonding to investing in energy saving improvements, the city will – over 20 years – reduce operating costs by $700,000 per year and shrink its carbon footprint by 30 percent.

PORTLAND — The City Council agreed Monday night to borrow as much as $11 million for energy improvement projects in 30 municipal and 15 school buildings throughout Portland…Councilor David Marshall said the energy conservation measures will enable the city to reduce its carbon footprint by more than 30 percent.

…Ameresco [a Massachusetts-based consulting firm] has said that the projects will save about $700,000 a year in utility costs, and by the end of the 20-year bond period will pay back the cost of the work and interest on the bond.

Read More

Property Assessed Clean Energy (PACE): on life support

Date: 13 Oct 2010 | posted in: Energy, Energy Self Reliant States | 0 Facebooktwitterredditmail

In mid October, Leon County, FL, joined Babylon, NY, Palm Desert, CA, and Sonoma County, CA, as well as the California Attorney General, Sierra Club, and Natural Resources Defense Council in suing the Federal Housing Finance Agency over their opposition … Read More

Energy efficiency has economies of scale

Date: 19 Nov 2009 | posted in: Energy, Energy Self Reliant States | 0 Facebooktwitterredditmail

The report [Synapse Energy Economics Inc.: Costs and Benefits of Electric Utility Energy Efficiency in Massachusetts] is worth reading in full, but this paragraph is absolutely vital:

Synapse recently undertook an extensive review of numerous utility and third party EE programs from across the United States in order to explore the empirical relationship between the cost of saved energy (CSE) per kWh saved and program scale in terms of first year energy savings as a percentage of annual energy sales. In the analysis, we found that the CSE tends to decrease as energy savings increase relative to annual energy sales. This finding is contrary to the idea of an energy efficiency supply curve that is often constructed to estimate economic potential of energy efficiency measures. These supply curves generally indicate that the CSE increases as energy savings increase, much like a generation supply curve would. In English: Energy efficiency gets cheaper the more you spend on it. [emphasis original]

Read More

1 15 16 17 18