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Overview of PACE in Missouri Columbia, Missouri March 31 st, 2011.

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Presentation on theme: "Overview of PACE in Missouri Columbia, Missouri March 31 st, 2011."— Presentation transcript:

1 Overview of PACE in Missouri Columbia, Missouri March 31 st, 2011

2 2 In 2005, only 0.1% of Missouri's electricity came from renewable sources. Over 85% comes from coal – all imported from out of state, at a cost of over $1.2 billion per year. Where does Missouri get its energy ?

3 What we do Renew Missouri is a membership- supported, non-profit group Bring stakeholders for energy issues together to educate & negotiate Promote renewables and energy efficiency to the public Evaluate what energy policies Missouri should implement Guide stakeholders as they use the policies that are put in place.

4 Missouri ranked 41st in EE

5 What is PACE? PACE is a voluntary program and stands for Property Assessed Clean Energy. It enables interested Cities or counties set up special Clean Energy Development Boards (CEDB) capable of issuing low-interest bonds, and the bond money is used to cover the costs of a loan program. Participating property owners, both commercial and residential, can opt-in and receive a 20 year loan for renewable energy and energy efficiency improvements, and pay the loan back through a 20 year assessment on their property taxes.

6 Benefits of PACE financing Job creation Economic development Increases in disposable incomes Accelerate U.S. energy policy goals Promote equal access to clean energy Payments and energy savings stay with property

7 EE presents a conflict of interest for utilities A recent plan published by Ameren last year said that energy efficiency alone could reduce energy consumption by 7.3 percent by 2030, but that this would require about $100 million a year. “If we went after the potential that we’ve seen in our own study, we wouldn’t have to build another power plant for 20 years, and we could retire [58- year-old coal plant] Meramec, and we’d be OK,” Kidwell said. But, he added, “We’d lose $30 million a year. And we just can’t do that. It’s that simple.”

8 EE presents a conflict of interest for utilities PACE puts efficiency investments in hands of local communities – not the utility. The needs of the community are first priority. The market drives growth.

9 Opportunities for Homeowners Cash flow increase from decreased utility cost Insulation from future energy price spikes Increase in property value Part of the creation of an energy secure future Increased home comfort and health

10 Opportunities for Municipalities Revenue Neutral –The bonds cover both the loans and the program administration costs; loan are repaid through the voluntary assessments placed on participating property owners. Loan payments are collected alongside property taxes. Job Growth –Stimulates local job creation through the installation of solar energy and efficiency improvements on private property - jobs that can’t be outsourced!

11 Opportunities for Contractors Solar installers Weatherization and efficiency improvements Widespread and long-term creation of skilled labor jobs Expanded revenues

12 Opportunities for Policy Makers Promote clean energy initiatives across the board Meet GHG reduction goals Job creation and economic development Reduce dependence on fossil fuels

13 Opportunities for Small Businesses PACE is available for commercial property Take further steps in becoming a sustainable business Establish a “green” identity Improved cash flow from lower overhead costs

14 Residential PACE slowed down by FHFA FHFA announced opposition to senior lien status offered by PACE. Effectively froze residential PACE programs nationwide (sort of). Building grassroots pressure ever since… March 18 th - The National Association of Regulatory Utility Commissioners (NARUC) sends ‘strong’ letter to FHFA Director February 9 th – National League of Cities/Counties calls for action on PACE.

15 Online Resources PACE webinars available online

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