Topic: PACE

PACE Articles

Financing Electric Vehicle Markets in New York and Other States

The article below is the executive summary of a research report published by Clean Energy Finance Forum at Yale Center for Business and the Environment. Financing Electric Vehicle Markets in New York and Other States by Marissa Galizia and Eitan Hochster The process of sowing the seeds of electric vehicle infrastructure - and thereby creating a backbone of charging stations that can support these vehicles - is still in its infancy. This report outlines the technologies and business models necessary to ramp up growth in the electric vehicle (EV) market in the United States. It also explores the relationship between...

Skepticism Stalls Small Commercial Energy Retrofits

Small commercial energy efficiency retrofits are often at the bottom of building owners’ priority lists. According to “Financing Small Commercial Building Energy Performance Upgrades: Challenges and Opportunities,” a report published in January by National Institute of Building Sciences (NIBS), a complex knot of challenges is preventing building owners from both seeking financing and accessing it. The authors recommend that government organizations step in with policies and programs designed to cut the knot and set financing in motion.

What’s Unique about the Texas PACE-in-a-Box Toolkit

Texas faces an unusual scenario when it seeks to advance property-assessed clean energy (PACE). The state has a tradition of seeking private-sector solutions and streamlining government activities. This means PACE methods adopted in other states – such as Connecticut – would not work in Texas. Also, Texas’s private sector is massive. The state’s businesses – and their environmental footprint – are growing rapidly. In a Nov. 18 webinar called “PACE in Texas 101,” Charlene Heydinger, executive director of Keeping PACE in Texas, said Texas uses 19 percent of the industrial energy consumed in the United States.

The Struggle to Combine Energy Efficiency and Solar Power

How can programs motivate homeowners to make their homes energy-efficient before installing solar panels? And how can incentives support a whole-house retrofit approach that will optimize energy savings and prevent solar systems from being oversized? California, Wisconsin, New Jersey, and Austin Energy have been grappling with this challenge for years. Their experiences show well-designed incentives may drive the joint adoption of solar power and energy efficiency. Simply introducing energy efficiency requirements into the solar installation process may not be successful without adding financial motivation.

Alternative Market Solutions Could Ignite Renewable Energy Finance

How can alternative financing solutions help expand clean energy through capital markets? Industry experts convened at this year’s Asset-Backed Securities (ABS) East conference in Miami on Sept. 20-23 to discuss these possibilities. Yieldcos, crowdfunding or peer-to-peer (p2p) markets, and property-assessed clean energy (PACE) financing could supplement the role of securitization and may deliver the capital the renewable energy industry demands.

USDA Plants Seed Funding for Rural Clean Energy

The United States Department of Agriculture (USDA) announced on May 5 it has earmarked up to $12.3 million in grants and $57.8 million in loan guarantees for the Rural Energy for America Program (REAP). This followed a Dec. 2013 statement that the USDA will distribute $250 million to rural electric cooperatives through the Energy Efficiency Conservation Loan Program (EECLP).

Clean Energy and Climate Resilience Join Forces

Massachusetts and New Jersey are spearheading clean energy financing programs that also address the need for climate resilience. Both of these programs appear to be partially motivated by the devastation of Hurricane Sandy. The United Nations combines these two funding pools already, but within the United States, this is a new development at both federal and state levels.

Solar and Energy Efficiency Securitization Emerge

Organizations are beginning to securitize solar and energy efficiency loans to allow greater levels of investment. Securitization involves pooling loans to create consolidated securities that investors can purchase. Recently, SolarCity securitized $54.4 million in loans for solar photovoltaic installations. Also, the Green Jobs – Green New York program has achieved a high bond rating for securitized energy efficiency loans.