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PACE Loans - bank partnership energy loans

2016: Agencies issue new guidance on PACE loans. As the Obama administration in July announced the Clean Energy Savings for All Initiative - a cross-government partnership aimed at promoting energy efficiency and increasing access to solar energy, particularly for low- and moderate-income families -- several agencies released new guidance on Property-Assessed Clean Energy loans. PACE loans provide homeowners a way to have their homes undergo energy-efficient retrofitting financed through property tax assessments.



2013: CBA successfully amendedSB13-212, a commercial PACE bill. The bill permits the state to make commercial loans for energy efficient improvements through a special district. A huge problem with the bill is the lo ans made through the district are given priority over existing liens. Prior to CBA’s amendment this debt would not be recorded as a lien. A few of the amendments CBA placed on the bill include: 1) Ensuring that all existing lien holders have to give permission for a loan to be made through the special district. In other words, they have to agree to give up their priority position. 2) The loan/assessment on the property must be recorded. CBA wanted future lenders to be aware of the outstanding debt. 3) Ensuring that properties in foreclosure or with delinquent taxes could not qualify for the program. 4) Also limiting the loan to value to not more than 100 percent.


PACE loan resources


Freddie PACE loans

FHFA PACE statement



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