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A PACE Program Design Considerations June 4, 2014.

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Presentation on theme: "A PACE Program Design Considerations June 4, 2014."— Presentation transcript:

1 A PACE Program Design Considerations June 4, 2014

2 2 PACE VideoPACE Video (Click on PACE Video to play)

3 PACE W ORKS

4 PACE T AKES O FF 4 31 states and DC - 80% of US population PACE enabled HI Existing Authority 2014 / 2015 legislative interest or Bills

5 Early stage PACE program development PACE programs with funded projects PACE enabled 27 Projects completed - $5 mil 5

6 PACE programs with funded projects PACE P ROGRAMS T ODAY 256 Projects Closed - $75 mil - Pipeline of $250+ mil Early stage PACE program development Launched PACE programs PACE enabled 6

7 PACE M ARKET D ATA 7 7 Project Uses, Sizes and Building Types

8 PACE I MPLEMENTATION

9 P ROGRAM D ESIGN 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 9 Decentralize Market – Spectrum of Models Low High

10 P ROGRAM D ESIGN 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 10 PACE Platform

11 P ROGRAM D ESIGN More is better 11 Grandview Tire & Auto, Edina MN $35,000 Solar Project

12 P ROGRAM D ESIGN More is better 12 Simon Property Group, Mentor OH $3.4 Mil Energy Efficiency

13 P ROGRAM D ESIGN 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 13 Comprehensive – More is Better

14 P ROGRAM D ESIGN Hartford West Hartford Bridgeport Norwalk Simsbury Stamford Stratford Southbury Westport Avenue, Norwalk CT $185,000 Lighting Upgrades

15 P ROGRAM D ESIGN 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… 15 Lessons Learned

16 T HANK 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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