Green Building Law Update Service

Center for Climate Change Law

Posts tagged ‘PACE financing’

In March, The Rockefeller Foundation and DB Climate Change Advisors released a research paper entitled United States Building Energy Efficiency Retrofits: Market Sizing and Financing Models. Among other things, the report makes the following findings with respect to energy efficiency retrofits in terms of energy savings, greenhouses gases, and job creation. Energy Savings:  The report […]

A federal court in California recently issued a decision partially denying a motion to dismiss in a case concerning a Property Assessed Clean Energy (PACE) program in the state.  PACE programs allow property owners to obtain loans for energy efficiency retrofits.  More than 20 states and a handful of municipalities have enacted PACE programs in […]

On June 22, 2011, the New York State Legislature passed The Power NY Act of 2011 (A. 8510/S. 5844) (PNY Act).[1] Governor Cuomo is expected to sign it.  The new law, once enacted, would do two very important things:  (1) provide a mechanism to allow owners of residential and non-residential buildings to borrow money for […]

A federal program designed to encourage residential retrofits is being potentially derailed by Fannie Mae and Freddie Mac, government entities that guarantee more than half of the residential mortgages in the U.S. The financing technique is referred to as Property Assessed Clean Energy (PACE).  A PACE bond is a debt instrument where the proceeds are […]

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