A PACE Program Design Considerations June 4, 2014
2 PACE VideoPACE Video (Click on PACE Video to play)
PACE W ORKS
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
Early stage PACE program development PACE programs with funded projects PACE enabled 27 Projects completed - $5 mil 5
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
PACE M ARKET D ATA 7 7 Project Uses, Sizes and Building Types
PACE I MPLEMENTATION
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
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
P ROGRAM D ESIGN More is better 11 Grandview Tire & Auto, Edina MN $35,000 Solar Project
P ROGRAM D ESIGN More is better 12 Simon Property Group, Mentor OH $3.4 Mil Energy Efficiency
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
P ROGRAM D ESIGN Hartford West Hartford Bridgeport Norwalk Simsbury Stamford Stratford Southbury Westport Avenue, Norwalk CT $185,000 Lighting Upgrades
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
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