PACE (Property Assessed Clean Energy) mechanisms offer many advantages over traditional loans for financing energy efficiency retrofits. PACE financing helps property owners avoid the often substantial upfront costs of efficiency retrofits by offering longer repayment periods (usually up to 20 years) and tying the investment to the property, rather than the property owner, so that, in the event of a sale, the new owner assumes the payments and continues to receive the benefit of lower utility bills.
Support for PACE financing, through mechanisms such as bond guarantees, would provide BC with a low cost method to help ensure that the energy efficiency financing market attracts long term capital so that it can mature into a robust and affordable market, capable of financing our province's energy efficiency and green energy needs, and thereby contributing to the province's climate action goals.
Presenters for this BC Sustainable Energy Association Climate and Energy Solutions Webinar are Johanna Partin, Director of Climate Protection Initiatives in the Office of Mayor Gavin Newsom of the City of San Francisco, and David Ramslie, Manager of the City of Vancouver's Sustainable Development Program.
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