Joint statement of Renovate America, Ygrene Energy Fund, and Renew Financial - the nation's leading Property Assessed Clean Energy [PACE] providers - on the Economic Growth, Regulatory Relief, and Consumer Protection Act introduced today

WASHINGTON, Nov. 16, 2017 /PRNewswire/ -- Renovate America, Ygrene Energy Fund, and Renew Financial – the nation's leading Property Assessed Clean Energy [PACE] providers – issued the following joint statement on the Economic Growth, Regulatory Relief, and Consumer Protection Act introduced today: "Today's bipartisan agreement on PACE signals a win for consumers in the home improvement marketplace. The PACE provision in this legislation builds on comprehensive consumer protection, home improvement contractor performance requirements, clear disclosures, and ability-to-pay legislation enacted at the State level in the largest market for PACE financing in the nation.

This agreement also:

• brings assurance of ability to repay at the Federal level to a proven decade-old policy of the States which has multiplied the number of voluntary home improvements that increase resiliency, energy efficiency, renewable energy, and water conservation through PACE – which property owners can use to repay financing over time at a fixed, competitive rate through a line item added to their local property taxes;
• preserves affordable access for homeowners to an innovative financing option that draws private capital to public policy priorities, and can lower the operating cost of a house for homeowners;
• recognizes State and Local authority to expand clean energy and resiliency in residential housing infrastructure, at no cost to government budgets, and support local small business growth by creating clean energy jobs that cannot be offshored or automated -- while still ensuring that PACE remains workable for the local governments that choose to deploy it.

"Since 2007, PACE has helped more than 150,000 families upgrade their homes, and created an estimated 30,000 local jobs. PACE is saving more than 10 billion gallons of water, and reducing carbon emissions by more than 4 million tons." 

SOURCE Renovate America