Last week, a bipartisan trio of House Representatives announced legislation to reinstate local governments’ right to run PACE energy retrofit programs. By the time the “PACE Assessment Protection Act of 2011” had a bill number assigned this morning, an impressive 15 co-sponsorsfrom both ends of the political spectrum and all corners of the countryhad thrown their support behind it.
It appears Congress may have what it takes to stage the great PACE comeback.
Many will recall the harrowing tale of these popular programs. PACE (Property Assessed Clean Energy) programs use a tried-and-truemunicipal finance tool to help property owners make energy efficiencyand renewable energy improvements on their homes and businesses at noupfront cost — and without any taxpayer dollars.
By leveraging private investment to put hammers in hands and boots onroofs in communities nationwide, PACE has enormous potential tosimultaneously address two of our most critical challenges: energy andthe economy. So much so that over the span of just a couple years nearly 30 states and the District of Columbia enabled their local governmentsto implement PACE programs.