Since 2009, more than 100,000 homeowners have made energy efficiency and renewable energy improvements to their homes through residential Property Assessed Clean Energy (R-PACE) programs.
BPI provided extensive comments to the U.S. Department of Energy during the open comment period regarding the need for a trained and certified workforce, strong consumer protections, companies who commit to following quality standards in installation, and the inclusion of health and safety upgrades as qualified measures. Check out this outline of updates and strategies for communities to use in designing their R-PACE programs: http://bit.ly/2lrQkSb.
Good. Guess they see the existential threat PACE poses. This seems like attempting to regulate pickpocketing. Sad to spend so much energy on a bad financing program instead of just creating a good one.
Further reading about PACE:
http://bit.ly/PaceWSJ - Wall St Journal
IMO, PACE is good for contractors and banker but NOT good for consumers. Rates and fees are very high relative to other forms of secured financing. This represents REAL money going to financing cost instead of improvement capital cost.
Complex financial instruments being sold to unsophisticated consumers is dangerous in ways clearly recognized (2008 crisis) and unrecognized (theft of equity that doesn't present symptoms for years) makes me very very uncomfortable.