You should contact Ryan Miller at the NCBPA. Their web site is www.buildingnc.org.
Hero is in Kansas City part of Missouri and most of California. heroprogram.com support is very big.
(Property Assessed Clean Energy) it takes a lot of support to make this financing work
Be very careful with PACE. It's value to consumers is of dubious value.
There is a lot of evidence suggesting improvement residual value is only a small fraction of the cost, so there is value theft there. There are also stories of PACE putting people into negative equity situations which prevent them from selling their homes.
There is a lot of evidence that this complex financing mechanism has high fees, high interest rates, and is being fraudulently sold (as usually happens to unsophisticated consumers when exposed to complex financing tools - think 2008). Please explain to me how 6-10% interest rates, plus origination fees, is a good deal secured financing?? This may be good for contractors and bankers, but I don't think it's concerned with the consumers welfare.
Don't be deceived by consumer enthusiasm if the interviews occur BEFORE they've received their new tax bills. These are people who've received shiny objects without yet having to make a payment.
To me the premise of PACE is flawed on a lot of levels. It is tremendously opaque WRT consumer value. I think it was developed either by fart sniffing greenie simpletons or by predatory capitalists.
Here are some supporting articles:
I'm with Ted. We need to be very careful with the consumer perception of Home Performance. There is mounting evidence that PACE is not great for consumers. If we promote it heavily, we own the consequences. Like Indiana Jones said, "I have a bad feeling about this..."
I do wish there were better options out there, but at least home equity lines are once again a tenable option in many markets.
A new variety of financing that combines on-bill with secured or unsecured financing tied to a utility bill would be far better. It would also drastically reduce the opacity that comes with having a payment tied to a tax bill that we never see.
I won't let my utility bills come out automatically because I want to know what's going on. As soon as we don't watch, we get hosed. I've learned the lesson again and again, but that's exactly what PACE does - it makes a loan hard to watch.
Thanks Larry for the plug! Horace - We have been leading efforts to enable Commercial and Residential PACE for a year now. We have a C-PACE bill drafted and are raising lobbying funds to get it through this session. We are HOLDING on residential for a variety of reasons and hope to add SF residential once some regulatory issues are cleared up. I'll be at the PACENation conference next week working with the folks there on our plans for NC. Our sister orgs in SC and GA are working on similar plans. More info on our NC plans here: http://www.buildingnc.org/pace-financing. Feel free to email or call me for more info. Ryan@BuildingNC.org or 919-521-3385.