TEPRI Releases Initial Report on Research Landscape Analysis of the Energy-Poverty Nexus

We are pleased to share with you TEPRI’s first publication: the “Energy Poverty Research Landscape Analysis.” By providing an analysis of the landscape of publicly available current research, TEPRI’s goals for this working paper are to increase understanding of and raise awareness about the complex nexus of energy and poverty.

Click the link above to view the full publication.

Watch Jeff Tannenbaum Talk Solar and PACE on Nasdaq Spotlight

PACENation’s Founder Jeff Tannenbaum was featured on Nasdaq’s channel to discuss new opportunities in solar, energy efficiency, and financing for the clean energy economy.

 

The conversation turns to PACE at 15:10:

 

“PACE is done locally. It’s being driven by entrepreneurs, it’s creating jobs, it’s improving energy security, and it’s raising tax revenues.”

 

Watch the interview below:

 

Courtesy of:
PACENation

Hays County Establishes PACE Program

This morning Hays County, Texas became the 12th local government to establish a commercial PACE program in Texas. Under Judge Cobb’s leadership, commercial PACE is now available throughout the county including Buda, Dripping Springs, Kyle, San Marcos and many more wonderful communities. Hays County joins Travis and Williamson counties to form a three-county central Texas PACE region along the I-35 Corridor. The Commissioners Court adopted the PACE in a Box model and selected the Texas PACE Authority to administer the program. We look forward to serving the businesses and nonprofits in Hays County.
For more information about the establishing a PACE program, visit www.KeepingPACEinTexas.org and www.TexasPACEAuthority.org, or contact Charlene Heydinger at charlene.heydinger@KeepPACE.org.

Texas Commercial PACE Program: Protecting Borrowers and Creating Economic Benefits

January 11, 2017

Today The Wall Street Journal published a front page article about the California residential PACE program highlighting problems relating to consumer protection and other issues. Fortunately, none of these problems or issues are relevant to, or cause for concern under, the Texas PACE program for the reasons listed below:

  • The purpose of the Texas PACE statute is to enable energy-efficiency financing for commercial and industrial properties.

  • Residential PACE loans are not permitted in Texas.

    • The Texas PACE statute does not authorize single-family residential PACE loans.

    • PACE financing for residential property is available only to borrowers who are in the business of operating multi-family properties containing 5 or more units.

  • The Texas PACE statute includes multiple layers of protection for commercial property owners and lenders, including:

    • Commercial property with a mortgage is not eligible for a PACE loan without the written consent of the mortgage holder. This approach protects preexisting lien rights of the mortgage holder.

    • Prior to closing a PACE loan, an independent professional engineer must confirm that projected savings are consistent with applicable technical standards.

    • Upon completion of the project, an independent professional engineer must confirm that the equipment was properly installed and is operating as intended.

    • The term of the commercial PACE assessment cannot exceed the projected useful life of the improvements.

    • Private, open-market lenders provide all PACE financing in Texas. The Texas PACE program does not utilize government bonds or public funds.

    • All PACE programs established in Texas are administered by the Texas PACE Authority, a non-profit organization whose sole purpose is to operate PACE programs for local jurisdictions. This arrangement is unique to Texas and avoids conflicts that can arise when the PACE administrator is a for-profit organization that receives compensation for both facilitating the program and arranging the loans.

    • Lenders, contractors and other service providers for all PACE projects in Texas are selected independently by the property owners in a free-market, competitive environment not restricted to any particular or favored contractors or lenders.

The Texas commercial PACE program was designed by a group of more than 130 stakeholder-volunteers dedicated to ensuring that the problems and issues highlighted in The Wall Street Journal article will not arise in Texas.

For more information about the Texas PACE program, visit www.KeepingPACEinTexas.org and www.TexasPACEAuthority.org, or contact Charlene Heydinger at charlene.heydinger@KeepPACE.org.

Nueces County Adopts PACE

This morning, Nueces County became the 11th local government to establish a Texas PACE program.  The commissioners court adopted the PACE in a Box model and selected the Texas PACE Authority to administer the program.  This action brings PACE to the entire county, including its significant industrial sector and beautiful coastal cities of Corpus Christi and Port Aransas.

Nueces County experienced significant operational savings resulting from energy efficiency and water saving retrofits to the courthouse and the county jail.  The Nueces County PACE program enables the county’s commercial, industrial and multifamily property owners to also access long term affordable financing to update their properties and facilities and to increase their operating income.  For more information contact the Texas PACE Authority at www.texaspaceauthority.org 

 

Image Credit

EDF Publishes PACE Paper

Today the Environmental Defense Fund published PACE Financing Opportunities in the Affordable Multifamily Housing Sector, written by Laura Sanchez, an EDF Climate Corp Fellow and Masters in Public Policy candidate at UC Berkeley’s Goldman School of Public Policy focusing on energy markets and sustainability.
laurasanchez

Laura Sanchez, EDF Climate Corp Fellow

The City of Austin, the Environmental Defense Fund, and the Texas PACE Authority – together with affordable housing industry stakeholders – explored using PACE financing in affordable multifamily housing properties as a means to increase the city’s housing affordability, increase property owner’s operating profits, and improve the living condition of tenants. The final outcome of this collaborative effort is the paper, which:
  1. Lists potential opportunities for the affordable multifamily housing sector to leverage PACE, including properties under the U.S. Department of Housing and Urban Development’s (HUD) Rental Assistance Demonstration (RAD) program, and properties that are funded by the U.S. Department of Agriculture Rural Development (USDA RD) program;
  2. Provides specific guidance for affordable multifamily housing stakeholders incorporating PACE financing in the capital structure of rehabilitation projects reflecting variables including the policies of the public agency(ies) providing subsidies or direct capital, the existence and type of utility allowances, and the type of metering;
  3. Identifies potential pilot projects in Central Texas that serve as example of how PACE financing may be used within the affordable multifamily housing sector; and
  4. Makes recommendations to federal, state, and local governments to improve the effectiveness of PACE utilization in the affordable multifamily housing sector.
The Texas PACE Authority thanks the EDF for the opportunity to host Laura Sanchez as a Climate Corp, and congratulates Laura on her excellent work and this report.

 

Nonprofits and companies are encouraged to engage a Climate Corp Fellow.
For more information visit the Climate Corp Fellowship website.