President Clinton helped launch Property Assessed Clean Energy or PACE at the 2009 meeting of the Clinton Global Initiative. The progress PACE programs have made over the last five years was recognized at this year’s 10th anniversary meeting of Clinton Global Initiative in New York.
PACE is an innovative financing mechanism that makes it easier for property owners to complete energy efficiency upgrades and renewable energy projects that make buildings more valuable and sustainable. PACE allows property owners to finance 100% of a project’s costs and eligible measures include, lighting, windows, heating, cooling, ventilation equipment, solar panels, water pumps, and many more. Also, PACE works for just about any building and it has been used on office, retail, multi-family, single family, agricultural, hotel, government, and industrial properties.
David Gabrielson, Executive Director of PACENow, notes: “State and local government sponsored PACE programs are driving economic activity, creating local jobs, and helping achieve carbon reduction and other environmental goals.”
At the Clinton Global annual meeting, a number of PACE milestones were recognized. PACE has enjoyed a steady bipartisan support over the years. In fact, 13 Republican and 18 Democratic Governors have signed PACE enabling legislation, making PACE a truly bipartisan approach to energy conservation. New legislative efforts are underway in Indiana, Kentucky, Massachusetts, and Pennsylvania.
“PACE is a voluntary, market-based economic development program that does not burden government resources,” says Charlene Heydinger, Executive Director of Keeping PACE in Texas, a non-profit association. “PACE legislation passed the House and Senate on consent calendars and was quickly signed by Governor Perry. Our business community has been actively supportive throughout and helped design “PACE in a Box,” a uniform, user-friendly, sustainable and scalable administrative model that we are giving to all of our counties and municipalities.”
Today, over 80 percent of the US population lives in PACE enabled states and PACE is now available in more than 800 municipalities. Twenty five commercial and seven residential PACE programs are accepting applications and funding projects in CA, CT, DC, FL, MI, MN, MO, NY, OH, and WI, with 14 additional commercial programs near launch. Read more.