ECOASSET SOLUTIONS next webinar istentatively scheduled for August 6th at 12 PM. It is called Energy Finance Programs, A PACE Primer and will feature a general introduction to PACE programming including the Energy Finance Program bill recently passed by the Florida Senate and House of Representatives.
Energy finance programs are becoming a viable way for local governments to achieve their energy conservation and greenhouse gas reduction goals while stimulating their local economies. These programs are commonly referred to as Energy Finance Districts (EFD), Property Assessed Clean Energy (PACE), Voluntary Environmental Improvement Bonds (VEIBS) or Energy Loan Tax Assessment Programs (ELTAP).
Special assessment energy finance programs allow a local government to raise capital from public or private financing sources, and to loan the funds to property owners who voluntarily enter into a loan and contractual assessment agreement to finance a renewable energy system or energy efficiency retrofits to their property. The loan is typically repaid within a 10-20 year period through a special assessment on the property owner's ad valorem tax bill or some other regular billing activity.
A successful program should result in energy efficiency savings that outweigh the debt service associated with the property improvements.
Benefits for Local Government
Job and product sales stimulus
Effectively achieve energy conservation and GHG reduction policies and objectives
No commitment of general fund dollars
Self sustaining energy efficiency program with long term benefits for property owners
Benefits for Property Owner
No upfront cost
No credit qualification for loan
Loan not dependent on equity in the property
Loan does not need to be repaid by the property owner on sale of the property
ECO2ASSET SOLUTIONS offers an Energy Finance Program turnkey solution in partnership with Dr. Pierce Jones of the University of Florida-Program for Resource Efficient Communities (PREC) and Paul D’Arelli of Berger Singerman law firm. As a team, we are equipped to implement a web-based loan program administration software, provide education and training requirements for local contractors, auditors, residents and businesses, and assist your local government with energy finance program, formation and program documentation.
Our Turnkey Solution Approach
Data Collection and Feasibility Analysis
Program Development
Formal Adoption of Program
Establish Special
Purpose
Entity
Develop Financing
Mechanisms
Implement Financial
Accounting & Escrow
Services
Prelaunch Activities
Program Implementation
Program Coordination, Monitoring, and Reporting
ECO2ASSET SOLUTIONS can provide you with a detailed scope of work and proposal upon request. For the latest news and to follow an active dialogue about Energy Finance Programs, visit our blog at http://ecoassetsolutions.blogspot.com.
