Does anyone know if North Carolina is considering this type of financing or if it has been discussed?

Views: 179

Reply to This

Replies to This Discussion

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.

google  
(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:

http://bit.ly/PaceWSJ

http://bit.ly/pacesucksMBA

http://bit.ly/PACEsucks

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.

RSS

Forum Discussions

Electro Magnetic Fields (EMF)

Started by Barry L NewDelman in General Forum. Last reply by Brad Cook 1 hour ago. 4 Replies

When is it too windy to use blower door?

Started by Brandon Walton in General Forum. Last reply by Kent Browning 7 hours ago. 15 Replies

Affordable Housing Funding

Started by SUZETT MOFFITT in General Forum. Last reply by John Nicholas 13 hours ago. 5 Replies

Latest Activity

Brad Cook replied to Barry L NewDelman's discussion Electro Magnetic Fields (EMF)
"EMFs are everywhere and in varying strengths and frequencies. In my experience a small percentage…"
1 hour ago
Victor Rols Lindsay commented on A. Tamasin Sterner's photo
Thumbnail

improper venting

"whiskey tango foxtrot. This is why we all get ridiculed. Less knowledgeable people  abound.…"
3 hours ago
Victor Rols Lindsay commented on Eric Aune's photo
Thumbnail

infrared

"I guess a picture IS worth a thousand words"
3 hours ago
Victor Rols Lindsay commented on Michael Dunseith's photo
Thumbnail

Proof is possible Tour - Corbett Lungsford

"So... what did you find? This will be fascinating, with some surprises?"
3 hours ago

Photos

Loading…
  • Add Photos
  • View All

© 2017   Created by Lawrence Berkeley National Laboratory.   Powered by

Badges  |  Report an Issue  |  Terms of Service