The Dernogalizer

February 8, 2010

San Francisco Going with Country’s Largest PACE Program

Filed under: Energy/Climate — Matt Dernoga @ 9:30 pm
Tags: ,

This is exciting to see, especially since my group UMD for Clean Energy has been pushing for an energy efficiency loan fund to be established in College Park.  San Francisco has just gone with this kind of a program, which you can read about here on the VoteSolar site, or some excerpts below.

“Moments ago, on a sunny rooftop just across town from Vote Solar’s office, Mayor Gavin Newsom signed the final piece of legislation needed to get San Francisco’s PACE program off the ground. When it launches on March 1,GreenFinanceSF will provide $150 million in bonding capacity to help property owners cover the cost of energy efficiency, water conservation and – you guessed it – solar improvements.

That makes it the country’s biggest PACE program – the municipal finance model that translates upfront costs into manageable property tax payments spread over 20 years. City leaders also emphasized the breadth of the program, which is designed to allow participation from many different income levels and makes financing available for an impressive spectrum of eco-upgrades (hello new EV charging station!). Our neighbors across the bay at Renewable Funding will be administering the program.”

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