A PACE Program Design Considerations June 4, 2014
a
Feb 25, 2016
a. PACE Program Design Considerations June 4, 2014. PACE Video (Click on PACE Video to play). PACE Works. PACE Takes Off. 31 states and DC - 80% of US population. 2009. 2010. 2010. 2009. 2010. 2009. 2009. 2010. 2011. 2013. 2009. 2012. 2009. 2009. 2013. 2008. 2009. - PowerPoint PPT Presentation
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A
PACE Program Design Considerations June 4, 2014
PACE WORKS
PACE TAKES OFF
4
31 states and DC - 80% of US population
PACE enabled
2009
2009
2009
2013
2009
2009
2009
2009
2009
2009
2009
2009
2008 20132013
2013
2011
2010
2010
2010
2010
2010
2010
2010
2012
20102009
2009
HI Existing Authority
2014 / 2015 legislative interest or Bills
2013
4
Early stage PACE program developmentPACE programs with funded projects
2010
5
PACE enabled
27 Projects completed - $5 mil
5
PACE programs with funded projects
PACE PROGRAMS TODAY256 Projects Closed - $75 mil - Pipeline of $250+ mil
Early stage PACE program developmentLaunched PACE programs
PACE enabled
6
7
PACE MARKET DATA
7
Project Uses, Sizes and Building Types
Renewable Energy
28%
Energy Ef -ficiency
62%
Mixed10%
$0 $10 $20 $30 $40 $50 $60 $70 $80
2009 2010 2011 2012 2013 Mar-2014
25%
6%
15% 13% 4%4%
5%
8%
22%
OfficeMultifamilyRetailServicesAgricultureHotel IndustrialOtherGovernment
PACE IMPLEMENTATION
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PROGRAM DESIGN
PACE Platform – Municipality as “Loan Servicer”
Sole municipality
• Edina (MN), San Francisco (CA), Ann Arbor (MI), Sacramento (CA)
Multiple municipalities – Consortiums
• California (CaliforniaFIRST, FigTree, LA County)
• Florida (Florida Green Energy Works, Ygrene)
• Michigan (MI Lean & Green)
• New York (Energize New York)
Comprehensive – Statewide, Uniformity and Scale
• Connecticut
Decentralize Market – Spectrum of Models
Low
High
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PROGRAM DESIGN
More is better• Property Owner
Develops project w Contractor Arranges financing
• Local Government Loan Servicer
• Program Administrator (can be local government) Statutory requirements are met – State & Local Other requirements are met
PACE Platform
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PROGRAM DESIGN
More is betterGrandview Tire & Auto, Edina MN
$35,000 Solar Project
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PROGRAM DESIGN
More is betterSimon Property Group, Mentor OH
$3.4 Mil Energy Efficiency
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PROGRAM DESIGN
More is better• Administration – more people to do more things• Marketing and outreach efforts
Segmentation – identifying low hanging fruit Contractors – PACE helps them make their sale Allies to help spread the word Marketing materials – print, online, and other media Project sourcing and development Website – media to publicize wins Awards – PACE property owners are the best sales people
Comprehensive – More is Better
PROGRAM DESIGN
HartfordWest Hartford
BridgeportNorwalk
SimsburyStamfordStratford
Southbury
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542 Westport Avenue, Norwalk CT
$185,000 Lighting Upgrades
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PROGRAM DESIGN
More is better• Political support counts• Build a bigger team – allies matter• Be aggressive – no Field of Dreams• Bird dog projects• Keep it simple• Start lender consent discussion early• Funding on demand is the trend• The only place success comes before work…
Lessons Learned
16
THANK YOU
• PACENow is a foundation funded non-profit corporation• We provide information, resources, networking, advice and
direct assistance to a growing group of PACE stakeholders
Contact information:David Gabrielson
Impartial, fact-based, consensus-driven advocate for PACE
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