Property Assessed Clean Energy
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Fate of PACE clean-energy programs about to become clearer
Fannie Mae and Freddie Mac have shut down most of the nation’s programs using Property Assessed Clean Energy (PACE), an innovative tool (explained here) that helps Americans finance green improvements to their homes. Here’s the latest news: The Federal Housing Finance Agency will say Wednesday whether it will allow a 30-month pilot project for Property […]
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House Democrats introduce bill to defend PACE clean-energy program
Thirty House Democrats signed on to a new bill on Thursday that would save Property Assessed Clean Energy (PACE) programs, which have been under attack from mortgage giants Fannie Mae and Freddie Mac. PACE is a finance tool that helps homeowners afford energy-efficiency retrofits and renewable-energy installations. The PACE Assessment Protection Act of 2010 would […]
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California attorney general sues Fannie & Freddie over PACE clean-energy programs
Jerry Brown wants to face Fannie and Freddie down.California Attorney General (and candidate for governor) Jerry Brown sued Fannie Mae and Freddie Mac today for blocking Property Assessed Clean Energy (PACE) programs. There’s a good chance that Fannie and Freddie’s legal costs from defending this suit will add up to more than they ever stood […]
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Long Island town threatens to sue Fannie & Freddie over clean-energy program
Here’s the latest in the dispute with Fannie Mae and Freddie Mac over Property Assessed Clean Energy (PACE), a finance tool that helps homeowners cut energy waste: Babylon, N.Y., Supervisor Steve Bellone tells Fannie and Freddie to stop hating on his town’s clean-energy program at a rally with local building workers and homeowners.Courtesy Town of […]
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Energy efficiency helps homeowners avoid foreclosure
Energy-efficient homes have significantly lower default and delinquency rates than typical homes, according to an internal analysis conducted for a major financial institution last year. Here’s yet another reason why it makes no sense that Fannie Mae and Freddie Mac have effectively killed Property Assessed Clean Energy (PACE), a financing tool that has helped make […]
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California’s photovoltaic push
Amid the hullabaloo over government-chartered mortgage giants derailing the green financing program known as Property Assessed Clean Energy, or PACE, the march toward distributed generation of renewable energy — that is, generating electricity from decentralized sources such as rooftop solar panels or backyard wind turbines — continues. Case in point: The Sacramento Municipal Utility District […]
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Treasury Department hits PACE homeowners
On Tuesday, the Federal Housing Finance Agency effectively shut down an innovative green financing program called Property Assessed Clean Energy, or PACE, by restricting the ability of homeowners to take out loans to install solar panels and make other energy efficiency improvements. Now the United States Treasury Department has piled on. A new Treasury directive […]
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Fannie and Freddie are clueless in smacking down PACE
The Federal Housing Finance Agency (FHFA) issued guidance yesterday 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 […]
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Holiday weekend brings good news — and bad — for clean energy
The Fourth of July isn’t quite Earth Day but it’s becoming a favored holiday for companies and policymakers to declare energy independence, as was the case this past weekend. Cypress Semiconductor, kicked things off when T.J. Rodgers, the company’s chief executive, declared at a press conference that the Silicon Valley chipmaker would go completely off […]
