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PACE Financing to JumpStart Rooftop Solar?

SAN FRANCISCO—With the explosion of capital flowing into energy efficiency and solar distributive generation, creative finance companies utilizing the PACE model are well positioned to jumpstart the marketplace, say sources in this EXCLUSIVE column.

By Natalie Dolce | Updated on March 20, 2015

SAN FRANCISCO—“Property Assessed Clean Energy financing enables property owners in participating jurisdictions to finance energy and water efficiency improvements and renewable energy generation, such as rooftop solar, and repay the cost of the improvements through a voluntary property assessment.” So say attorneys at Manatt Phelps & Phillips. “Policy makers have long touted the PACE model as a way to increase deployment of solar generation and energy efficiency measures that property owners would otherwise be reluctant to undertake due to a significant upfront capital investment and uncertainty about realization of return as measured against utility expenses over the term of ownership (i.e., if the property owner moves prior to payback period of efficiency measure).”

In the exclusive column below, Jack Stoddard, a senior associate in the energy & natural resources practice group at Manatt, Phelps & Phillips LLP, located in the San Francisco office and Michael C. Polentz, co-chair of the real estate & land use practice group at the firm’s Palo Alto, CA office take a closer look. The views expressed in this column are the authors’ own.

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