Posts Authored by John Caleb Bell
Federal guidance announced for residential PACE programs
On July 19, 2016, the White House announced the Clean Energy Savings For All Initiative, a new partnership among several federal agencies designed to increase access to solar energy and promote energy efficiency. The new initiative has a goal of bringing 1 gigawatt (GW) of solar to low- and moderate- income families by 2020 through collaboration with state and local groups.
The White House also announced new steps that the federal agencies involved with the initiative are taking to promote energy efficiency financing. For example, the Department of Housing and Urban Development (HUD) and the Department of Veteran’s Affairs (VA) are releasing guidance regarding how Property Assessed Clean Energy (PACE) programs can be used in conjunction with residential mortgages insured by the VA or the Federal Housing Administration (FHA). The Department of Energy (DOE) is releasing an updated draft of its Best Practices Guidelines for Residential PACE Financing that includes protections to consumers who voluntarily opt into residential PACE programs, as well as lenders who hold mortgages on residential properties with PACE assessments. The DOE is also providing assistance to support the design and implementation of new PACE programs, and creating the Community Solar Challenge to promote the development of innovative models that increase access to solar and energy efficiency programs, particularly in low-income communities.
For more, read the full White House press release.