ABSTRACT

Policy Framework for PACE [Property Assessed Clean Energy] Financing Programs   [open pdf - 72KB]

"The following Policy Framework has been developed by the White House and the relevant agencies as a policy framework for Property Assessed Clean Energy (PACE) financing programs. Today [October 18, 2009], the Vice President is announcing support for the use of federal funds for pilot programs of PACE financing to overcome barriers for families who wish to invest in energy efficiency and renewable energy improvements. The innovative PACE approach attaches the obligation to repay the cost of improvements to the property, not the individual borrower, creating a way to pay for the improvements if the property is sold. This Policy Framework provides important safeguards for the relevant parties, including homeowners and mortgage lenders. The Policy Framework applies to federal funding of PACE programs and also is designed to serve as a resource for state, local, and tribal governments who seek to carry out PACE activities without federal funding." This document also includes an overview of PACE and some challenges it faces.

Publisher:
Date:
2009-10-18
Copyright:
Public Domain
Retrieved From:
White House: http://www.whitehouse.gov
Format:
pdf
Media Type:
application/pdf
URL:
Help with citations