Property Assessed Clean Energy, or PACE is a program that the Administration had been pushing around the country.  On the surface the idea is a good one – find a way to finance energy upgrades to homes and other buildings.  We all know that energy efficiency is an extraordinary opportunity for reduction in energy consumption around the country.  The PACE idea however would allow a new – energy upgrade – loan to be placed senior to the homes existing financing (senior to the existing first lein).  We think this is generally not a great structure and recently The Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac came to the same conclusion…. read more.

The notion that we need to encourage energy retrofits is absolutely right, the structures to finance them need to be more conventional.

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Read the original post at The Climate Community.