Update on the Status of PACE Financing
The Environmental Energy Technologies Division of the Lawrence Berkeley National Laboratory in Berkeley, Calif., has issued a PACE Status Update that clearly analyzes the current regulatory impasse regarding property assessed clean energy (PACE) financing.
Most PACE programs halted abruptly this summer following a July 6 letter from the Federal Housing Finance Agency (FHFA) that essentially blocked access to home loans for properties with PACE liens that take priority over mortgage debt. “Whether PACE resumes its expansion as an innovative tool for financing energy efficiency and clean generation,” the brief states, “depends on outcomes in each of the three branches of government, discussions on a PACE pilot phase among federal agencies, litigation in federal court, and legislation in Congress – all highly uncertain.”
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