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Statement by PACENation on the Consumer Financial Protection Bureau (CFPB) issuing an Advance Notice of Proposed Rulemaking (ANPR) on Property Assessed Clean Energy (PACE)

PACENation is the national non-profit organization that advocates for PACE financing. PACENation provides resources and support to local governments, businesses, and non-profit organizations that are committed to allowing American property owners to improve the efficiency and resiliency of their homes and businesses with PACE.

PACENation’s Co-Executive Director Colin Bishopp issued the following statement today regarding the Consumer Financial Protection Bureau’s issuance of an Advance Notice of Proposed Rulemaking on residential PACE:

“PACENation and its members look forward to working with the CFPB on its proposed rulemaking in a way that accounts for the unique, assessment-based financing structure of PACE. We view this is a critical step toward making residential PACE financing available to property owners in every American community where state and local officials choose to authorize it.

“To date, PACE financing has allowed more than 220,000 American homeowners to make voluntary upgrades that save energy and strengthen their homes against natural disasters. These upgrades have also conserved water, reduced pollution, and helped to create more than 42,000 local jobs in the construction sector.

“Residential PACE offers extraordinary economic and environmental benefits, but no benefit is more important than the one it offers to homeowners. PACE expands access to financing so that more American families can increase the efficiency and resiliency of their homes. This is PACE’s core value to the communities that have embraced it. We look forward to working with the CFPB to preserve this value, and to ensure that every residential PACE program in America offers strong consumer protections.”

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