Friday, January 7, 2011
Tuesday, January 4, 2011
Thursday, November 11, 2010
Enviros Claim Feds Pulled Clean-Energy Plug
Two federal agencies are trying to sink Property Assessed Clean Energy programs, which finance energy-efficiency changes for homes and businesses, the Natural Resources Defense Council claims in Federal Court. The NRDC says it has spent 2 years supporting development of PACE programs, but the Federal Housing Finance Authority and Office of the Comptroller of the Currency issued misguided directives this summer that could stop the programs in their tracks.
"Defendants' actions, which have the effect of terminating existing PACE programs and curtailing the development of new PACE initiatives, will significantly set back efforts to address air pollution and global warming pollution from the electric generation sector," according to the complaint.
Energy efficiency is important to combating global warming, making the electric grid more reliable, and reducing consumers' energy bills, but Americans need financing so they can afford to pay for better energy or to retrofit their homes and businesses, the NRDC says.
"If PACE programs were to achieve a 3 percent penetration rate nationwide over the next decade, 3.3 million homes would be retrofitted, resulting in approximately 320 million metric tons of avoided carbon dioxide emissions," according to the complaint. "Assuming an average job cost of $15,000, these retrofits would also result in just under $50 billion of construction activity."
The NRDC claims that PACE projects such as installing new windows or improving insulation can increase property value in the long term and bring many short-term benefits, such as decreasing a building's energy bills, increasing a property owner's cash flow and reducing the risk of default and foreclosure.
--more
"Defendants' actions, which have the effect of terminating existing PACE programs and curtailing the development of new PACE initiatives, will significantly set back efforts to address air pollution and global warming pollution from the electric generation sector," according to the complaint.
Energy efficiency is important to combating global warming, making the electric grid more reliable, and reducing consumers' energy bills, but Americans need financing so they can afford to pay for better energy or to retrofit their homes and businesses, the NRDC says.
"If PACE programs were to achieve a 3 percent penetration rate nationwide over the next decade, 3.3 million homes would be retrofitted, resulting in approximately 320 million metric tons of avoided carbon dioxide emissions," according to the complaint. "Assuming an average job cost of $15,000, these retrofits would also result in just under $50 billion of construction activity."
The NRDC claims that PACE projects such as installing new windows or improving insulation can increase property value in the long term and bring many short-term benefits, such as decreasing a building's energy bills, increasing a property owner's cash flow and reducing the risk of default and foreclosure.
--more
Thursday, October 14, 2010
Sunday, October 10, 2010
NRDC Sues Federal Housing Regulators for Blocking Affordable Clean Energy Projects for Homeowners
NEW YORK, N.Y. (October 6, 2010) – Federal housing regulators must stop obstructing programs that make energy efficiency upgrades and renewable energy projects affordable for American homeowners, according to a lawsuit filed today by the Natural Resources Defense Council.
“Federal housing regulators are standing in the way of programs that make clean energy projects affordable for homeowners and lower electricity bills,” said Katherine Kennedy, Energy Counsel at NRDC. “It defies common sense that the federal government is blocking programs that could create jobs, jumpstart our economy, put money in homeowners’ pockets, and fight climate change at the same time. Instead of shutting them down, the federal government should help these programs grow.”
NRDC filed the lawsuit in federal district court in the Southern District of New York against the Federal Housing Finance Agency, which regulates government sponsored mortgage buyers Fannie Mae and Freddie Mac, and the Office of the Comptroller of the Currency, which regulates national banks. The agencies have halted clean energy financing programs—called Property Assessed Clean Energy (PACE) programs— that are already off the ground in California, Colorado and New York, and have been adopted in 20 other states and the District of Columbia.
NRDC Complaint
“Federal housing regulators are standing in the way of programs that make clean energy projects affordable for homeowners and lower electricity bills,” said Katherine Kennedy, Energy Counsel at NRDC. “It defies common sense that the federal government is blocking programs that could create jobs, jumpstart our economy, put money in homeowners’ pockets, and fight climate change at the same time. Instead of shutting them down, the federal government should help these programs grow.”
NRDC filed the lawsuit in federal district court in the Southern District of New York against the Federal Housing Finance Agency, which regulates government sponsored mortgage buyers Fannie Mae and Freddie Mac, and the Office of the Comptroller of the Currency, which regulates national banks. The agencies have halted clean energy financing programs—called Property Assessed Clean Energy (PACE) programs— that are already off the ground in California, Colorado and New York, and have been adopted in 20 other states and the District of Columbia.
NRDC Complaint
Property Assessed Clean Energy (PACE) program on the ropes
National Association of Counties: County News
By Julie Ufner
ASSOCIATE LEGISLATIVE DIRECTOR
As the clock ticks to the end of the 111th Congress, many local governments are anxious about the fate of the Property Assessed Clean Energy (PACE) program.
In July, NACo members passed a resolution at NACo’s Annual Meeting to support PACE programs. Since then, NACo has been lobbying with the National League of Cities and the U.S. Conference of Mayors in support of PACE programs.
READ MORE
By Julie Ufner
ASSOCIATE LEGISLATIVE DIRECTOR
As the clock ticks to the end of the 111th Congress, many local governments are anxious about the fate of the Property Assessed Clean Energy (PACE) program.
In July, NACo members passed a resolution at NACo’s Annual Meeting to support PACE programs. Since then, NACo has been lobbying with the National League of Cities and the U.S. Conference of Mayors in support of PACE programs.
READ MORE
Monday, July 19, 2010
A Leg Up for PACE Programs
Bill Would End GSE Roadblocks
(Bond Buyer) Monday, July 19, 2010
WASHINGTON — Rep. Mike Thompson, D-Calif., and 29 other members of Congress have introduced legislation that would prevent Fannie Mae and Freddie Mac from stifling state programs that allow localities to sell bonds to finance energy-efficient upgrades made by homeowners.
The legislation follows a suit California attorney general and Democratic gubernatorial candidate Jerry Brown filed against Fannie Mae, Freddie Mac, and the Federal Housing Finance Agency, arguing they are violating state law by blocking the programs.
The programs, dubbed property assessed clean energy, or PACE, programs, have come under fire from the mortgage titans and their regulator, the FHFA, which argue they make the underlying mortgages on participating homes too risky for the two government-sponsored enterprises.
READ MORE
(Bond Buyer) Monday, July 19, 2010
WASHINGTON — Rep. Mike Thompson, D-Calif., and 29 other members of Congress have introduced legislation that would prevent Fannie Mae and Freddie Mac from stifling state programs that allow localities to sell bonds to finance energy-efficient upgrades made by homeowners.
The legislation follows a suit California attorney general and Democratic gubernatorial candidate Jerry Brown filed against Fannie Mae, Freddie Mac, and the Federal Housing Finance Agency, arguing they are violating state law by blocking the programs.
The programs, dubbed property assessed clean energy, or PACE, programs, have come under fire from the mortgage titans and their regulator, the FHFA, which argue they make the underlying mortgages on participating homes too risky for the two government-sponsored enterprises.
READ MORE
Sunday, July 18, 2010
Byron DeLear of Missouri Association of Accredited Energy Professionals speaks of PACE
Gov. Jay Nixon signed a bill on Monday enabling Property Assesses Clean Energy (PACE) programs, which allow cities and counties to issue bonds to help home owners finance energy efficiency upgrades or solar panel installation. Money from the bond sales is lent to property owners, who repay it over a period of up to 20 years through special property tax assessments.
PACE laws have been adopted in 22 states as a way to cut energy use and create jobs by making it easier for homeowners to cut energy use and shrink utility bills.
In Missouri, energy efficiency advocates acknowledge the uncertainty surrounding PACE but are working to roll out programs anyway, hoping the conflict is resolved.
On Friday, energy advocacy group Renew Missouri held a PACE implementation training conference in Columbia for about 100 energy auditors, solar installers and local government officials.
"Our view is that these concerns and problems will be resolved," said Byron DeLear, a founding partner of Energy Equity Funding LLC, a company that hopes to administer PACE programs in the state.
DeLear also heads the Missouri Association of Accredited Energy Professionals, a year-old state association of energy auditors and contractors. MAAEP helped push PACE legislation in Jefferson City and has a lot riding on the success of the programs.
PACE is expected to spur millions of dollars in efficiency and renewable energy upgrades across the state. That could mean hundreds of new jobs for energy auditors, contractors and home remodelers.
DeLear projects that 80 percent of PACE loans in Missouri will be used to finance energy efficiency projects averaging about $5,000. The rest will also incorporate renewable energy systems such as solar panels with those projects averaging about $25,000. Statewide, the average PACE loan would be about $9,000, he estimates.
READ MORE
PACE laws have been adopted in 22 states as a way to cut energy use and create jobs by making it easier for homeowners to cut energy use and shrink utility bills.
In Missouri, energy efficiency advocates acknowledge the uncertainty surrounding PACE but are working to roll out programs anyway, hoping the conflict is resolved.
On Friday, energy advocacy group Renew Missouri held a PACE implementation training conference in Columbia for about 100 energy auditors, solar installers and local government officials.
"Our view is that these concerns and problems will be resolved," said Byron DeLear, a founding partner of Energy Equity Funding LLC, a company that hopes to administer PACE programs in the state.
DeLear also heads the Missouri Association of Accredited Energy Professionals, a year-old state association of energy auditors and contractors. MAAEP helped push PACE legislation in Jefferson City and has a lot riding on the success of the programs.
PACE is expected to spur millions of dollars in efficiency and renewable energy upgrades across the state. That could mean hundreds of new jobs for energy auditors, contractors and home remodelers.
DeLear projects that 80 percent of PACE loans in Missouri will be used to finance energy efficiency projects averaging about $5,000. The rest will also incorporate renewable energy systems such as solar panels with those projects averaging about $25,000. Statewide, the average PACE loan would be about $9,000, he estimates.
READ MORE
Saturday, July 17, 2010
Congress tells Fannie and Freddie to support clean energy programs
Written by Office of Congressman Mike Thompson
Saturday, 17 July 2010
WASHINGTON, DC – On Thursday Congressman Mike Thompson (D-CA) was joined by 29 other members of Congress in introducing legislation to protect clean energy initiatives that are important to homeowners in California and the rest of the country.
The PACE Assessment Protection Act of 2010 would order lenders to adopt standards that support Property Assessed Clean Energy (PACE) programs, rather than stymie green energy efforts.
“PACE programs are an important part of the push to create a green economy and reduce our reliance on foreign oil,” said Congressman Thompson. “They create jobs, and are an exciting way for homeowners to reduce their energy bills while also reducing greenhouse gas emissions. This is especially important in California, which has already taken significant steps to ensure that PACE programs are available to 70 percent of Californians by the end of 2010. And our district has been a national leader in getting these programs up and running – lending institutions should not interfere with these great green energy programs.”
MORE
Bill Summary & Status - 111th Congress (2009 - 2010) - H.R.5766
Title:
To ensure that the underwriting standards of Fannie Mae and Freddie Mac facilitate the use of property assessed clean energy programs to finance the installation of renewable energy and energy efficiency improvements.
Sponsor: Rep Thompson, Mike
[CA-1] (introduced 7/15/2010)
Cosponsors
(29)
Latest Major Action:
7/15/2010 Referred to House committee. Status: Referred to the House Committee on Financial Services.
Thompson Bill Re FHFA 7-15-10
Saturday, 17 July 2010
WASHINGTON, DC – On Thursday Congressman Mike Thompson (D-CA) was joined by 29 other members of Congress in introducing legislation to protect clean energy initiatives that are important to homeowners in California and the rest of the country.
The PACE Assessment Protection Act of 2010 would order lenders to adopt standards that support Property Assessed Clean Energy (PACE) programs, rather than stymie green energy efforts.
“PACE programs are an important part of the push to create a green economy and reduce our reliance on foreign oil,” said Congressman Thompson. “They create jobs, and are an exciting way for homeowners to reduce their energy bills while also reducing greenhouse gas emissions. This is especially important in California, which has already taken significant steps to ensure that PACE programs are available to 70 percent of Californians by the end of 2010. And our district has been a national leader in getting these programs up and running – lending institutions should not interfere with these great green energy programs.”
MORE
Bill Summary & Status - 111th Congress (2009 - 2010) - H.R.5766
Title:
To ensure that the underwriting standards of Fannie Mae and Freddie Mac facilitate the use of property assessed clean energy programs to finance the installation of renewable energy and energy efficiency improvements.
Sponsor: Rep Thompson, Mike
[CA-1] (introduced 7/15/2010)
Cosponsors
(29)
Latest Major Action:
7/15/2010 Referred to House committee. Status: Referred to the House Committee on Financial Services.
Thompson Bill Re FHFA 7-15-10
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