PACE home loans

The California Public Utility Commission is accepting comments through January 25 and holding workshops February 8-10 on a proposal by Environmental Defense Fund (EDF) to create the nation’s first statewide on-bill repayment (OBR) program for energy efficiency and solar energy upgrades to be financed entirely by third parties. The  “OBR” program as it’s becoming known…

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Before the mortgage industry beat back efforts by local jurisdictions to deploy Property Assessed Clean Energy home loans in 2009 in Maryland and other states, this voluntary vehicle for financing home energy efficiency upgrades (known as “PACE”) appealed to many Republicans, Democrats and Independents. But inadequately-informed lawmakers, a forceful lobbying campaign by mortgage lenders and…

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