Obama administration officials have failed to resolve a dispute with Fannie Mae and Freddie Mac that has shut down Property Assessed Clean Energy (PACE), according to an email obtained by Grist. The impasse will likely kill the promising clean-energy financing tool until Congress passes legislation addressing it, according to Cisco DeVries, who first created the PACE system three years ago.
Department of Energy officials have been unable to convince the Federal Housing Finance Agency, which regulates Fannie and Freddie, to end the corporations' prohibition on using PACE, DeVries told PACE advocates in an email Friday evening.
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