California Governor Jerry Brown Signs Landmark PACE Consumer Protection Framework

California Governor Jerry Brown signed two landmark companion pieces of legislation into law last week which serve to create a comprehensive consumer protection, underwriting, and regulatory framework for Property Assessed Clean Energy (PACE) financing.

Property Assessed Clean Energy (PACE) is a California success story which has allowed more than 150,000 Californian homeowners to make energy and energy efficiency upgrades to their properties while paying for these improvements over time as an additional line-item n their property taxes. To quote from an NREL fact sheet (PDF), “Under PACE programs, municipalities and counties form special tax districts to help property owners finance energy retrofits by allowing a property owner to place an additional tax assessment on his or her property.”

Announced last week, California Governor Jerry Brown signed into law two companion pieces of legislation which will create a comprehensive consumer protection, underwriting and regulatory framework for PACE Financing that serve to improve PACE by strengthening consumer protections.

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