Welcome PACE Legislation.com
How Property Assessed Clean Energy Works
What is PACE:
PACE is a form of land-secured financing with which landowners in participating states and counties can pay for renewable energy efficiency improvements such as Geothermal HVAC and Solar installations in residential and commercial sectors.
How Can Pace Help Me?
Properly designed PACE finance programs actually reduce risks and provide value for existing mortgage lenders. Clean energy improvements like Geothermal HVAC installations raise property values. Appraisal Journal found a $1,000 annual reduction in utility bill will raise property value $20,000. Studys show that “green certified” homes sold for 5-10% more than similar homes without energy improvements. Lowering energy bills decrease risk of default because participating property owners’ utility bills will decrease, funds will be freed up that can be directed towards other obligatory payments, such as a mortgage payment.
New Geothermal Book Opening Doors
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Geothermal HVAC: Green Heating and Cooling covers the fast-growing field of geothermal air conditioning and heating technology and all of its peripherals, in both the commercial and residential sectors. You’ll get details on the vast array of choices currently available on the market, so you can take advantage of this emerging money- and energy-saving technology. The book is co-written by Jay Egg, who has 20 years of direct experience and accreditation in providing geothermal systems, and Brian Clark Howard, a Web editor, author, and environmental blogger. You’ll learn what type of systems will likely work in a particular area, as well as what pricing to expect for a particular efficiency and quality.
Geothermal HVAC: Green Heating and Cooling:
* Explains the science and principles of heat transfer, convection, and infrared
* Identifies how to pair the best systems for each application and budget
* Lists market values for systems based on varying options and conditions
* Includes information on all the domestic and international tax rebates and stimulus packages available
* Contains coupons for discounts on geothermal products and services
As with most green technologies being offered, Geothermal HVAC is a strong candidate for PACE Legislation and this book goes over the benefits of having such legislation in place.
TAKE ACTION TO SAVE PACE IN 2011
Bipartisan legislation to restore PACE programs will be introduced in the U.S. Congress House of Representatives on Wednesday, July 20, 2011.
The Bill is sponsored by Congresswoman Nan Hayworth (R-NY), and Congressmen Dan Lungren (R-CA) and Mike Thompson (D-CA), and a draft can be downloaded here.
PACENow’s July 14th Webinar and Call to Action had hundred’s of participants.
PACE NOT DEAD
You may recall how Fannie Mae and Freddie Mac effectively stopped states from establishing financing programs for clean energy (PACE). Well, the game is not over. Efforts to right this wrong in DC are continuing.
To this end, there is an important Staff Briefing on Capitol Hill on February 10th (Flyer here, pdf). It is a major opportunity to regain momentum, put this on the radar, and remind our policy makers that PACE is important to us.
Can you take a moment to tell your representative that PACE is important to you, and that they (or, more likely, a staff representative) should attend the briefing?
No Climate Bill This Year
WASHINGTON – Senate Majority Leader Harry Reid (D-NV) has closed the door on climate legislation this year, The Hill reports. The senator said that the next Congress should look at climate bills in a “piecemeal” fashion with a focus on electric power plants instead of a bigger and more general proposal.
“I think we are looking to a time when we can get part of this done. We can’t get everything done at once,” said Reid, while acknowledging that the legislation won’t be advancing this year.
Property Assessed Clean Energy (PACE):
What’s going to happen?
As I walked out the front door of a beautiful new home in Central Florida recently, satisfied with another successful geothermal air conditioning system install, I felt a pang of guilt. This is one of those times where I could not quite put my finger on the root cause of the feeling that nagged me. Maybe it was because so many are out of work as a result of the economic downturn? No, that wasn’t it…
I have an acquaintance that has 4 kidletts, a wonderful wife, and a 2100 sq ft home. His electricity bill was $540 last month (July 2010). The home that I installed the geothermal system in will pay less than $350 a month for a 5000 sq foot home with a pool…and the geothermal air conditioner will last three times the life of that piece of junk on my friend’s house. You’ve heard the phrase, ‘I t takes money to make money”? How about this one: “It takes money to save money.”
HELP SAVE PACE
The Federal Housing Finance Agency (FHFA) issued guidance that drew a line in the sand against municipal energy financing, a.k.a. Property Assessed Clean Energy (PACE) programs. These innovative initiatives provide energy-efficiency retrofits for homeowners that are repaid through a property tax assessment. Since homeowners falling behind on payments must repay their PACE assessment before their mortgage, giant lenders Fannie Mae and Freddie Mac will consider participating households in default on their mortgages for receiving an energy-efficiency retrofit via PACE.
Click HERE to send a proactive message out on PACE legislation.
What the Media Has to Say
PACE has garnered a lot of attention from the media. We encourage everyone to read about this important piece of legislation and see what is has done in other states. Below is a link to an article in the South Florida Business Journal.
Pass it On and Make a Difference
Property Assessed Clean Energy (PACE) is growing but it needs your help. Local officials have to pass this bill in your city for it to do any good for you. Click the link below, or pass it on, to see a presentation on how the system works.
Cut Through the Red Tape
DMS Can Work For You. DMS has been involved with local governments and possess the experience of working within hundreds of special taxing districts in various stages. Click their link below to see how they can make PACE work for you!
