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Overview of Property Assessed Clean Energy (PACE) Program San Antonio Office of Environmental Policy December 16, 2009
2 Overview PACE methodology allows for the city to finance the cost of installing energy efficiency or renewable energy improvements on private property. Participants repay the costs of the installations through a assessment on their property tax bill. A lien against the property secures the repayment obligation.
3 Background Methodology introduced in Berkeley CA in 2008 Enabled in Texas by HB 1937 (became effective 9/1/09) San Antonio PACE Task Force has been meeting since August – Representation from Solar San Antonio and solar industry The White House has determined PACE to be a priority mechanism for retrofitting buildings (access to grant opportunities). Operational Programs in Berkeley, Palm Desert, and Sonoma County California, as well as Boulder County Colorado.
4 Benefits of PACE Removes historical barriers to energy efficiency and renewable energy installations: Eliminates initial capital requirements; replaced with yearly payments that correspond to the lifespan of the installation. Attaches repayment obligation to property, not the individual; payments are passed to the next owner until the measures are paid off.
5 San Antonio PACE Goals Will be accessible to residents and businesses of all income levels. Will incorporate both solar and energy efficiency upgrades to properties. Will be sustainable, scalable, and flexible; it will be self sufficient with little to no public financial support.
Property Owner C I T Y H A L L Program Administration CPS Energy Bexar County Tax Collector Builder / Installer Billing Program Applications Program Performance Energy Use Data Program Information Installation Costs Rebates Collected Assessments Special Assessment Assessment Bill Estimates Notice to Proceed List of Participating Properties Program Relationships Financing Mechanism Financing Proceeds Special Assessments 6
Program Coordination 7 Financing Awareness / Education Enrollment Audit / Evaluation Rebates / Tax Credits Measurement & Verification San Antonio PACE Program Increased market participation One-stop coordination of projects from enrollment through implementation Measured impact & results Homeowner Lack of awareness & participation Citizen responsible for project coordination Unknown impact & results PACE Implementation Financing Awareness / Education Audit / Evaluation Measurement & Verification Rebates / Tax Credits Enrollment Homeowner Installation Current Situation
Participant Process 8 1. Application: Participant must release access to utility bill 2. Home Energy Audit: From city-approved contractor. Results determine which measures to install. Cost of audit incorporated into loan. 3. Cost Estimates: Participants obtain written "not to exceed" estimates from pre-approved contractors. 4. Review of Proposal: Review of audit and bid information to ensure the proposed measures have a positive savings to investment ratio. 5. Obtain Funding: City obtains funding through financing mechanism (TBD) 6. Notice to Proceed: Issued to contractors. 7. Completion of Projects: Inspection by City or PACE Program Administrator. 8. Contractor Payment: City or its designee will directly pay contractor. 9. Repayment: Loans repaid via assessments on participant’s tax bill 10. Measurement and Verification: Review of energy consumption Determine program performance and which measures have greatest impact.
9 Proposed Eligible Measures Renewable Energy Solar Electric Solar Thermal Geothermal Peak storage devices Energy Efficiency Air sealing and ventilation Insulation Space Heating and Cooling Water Heating (including solar hot water) Windows, Doors and Skylights Reflective Roof
10 Measuring Performance PACE Program Administration will coordinate with CPS Energy to collect and analyze information related to program performance: – Consumption Metrics: Energy Savings (Electricity / Natural Gas / Propane) Carbon (and other emissions) savings – Financial Metrics: Project Cost per participant Annual Energy Savings (in dollars) per participant Payback Period (years) per participant Savings to Investment Ratio per participant Jobs Created
11 Outcomes Reduce energy consumption in both the residential and commercial sectors, saving residents and business owners money. Allow San Antonio to expand their green jobs workforce in the home improvement contractor and renewable energy sectors. Provide opportunities for local financial institutions to invest in environmentally sustainable projects that have modest returns and a high degree of security. Be implemented at no cost to taxpayers; all costs are covered by program participants.
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