Overview of Property Assessed Clean Energy _PACE_ Program

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					Overview of Property Assessed
Clean Energy (PACE) Program

              San Antonio Office of
              Environmental Policy
              December 16, 2009
    Overview

    l   PACE methodology allows for the city to finance
        the cost of installing energy efficiency or
        renewable energy improvements on private
        property.

    l   Participants repay the costs of the installations
        through a assessment on their property tax bill.

    l   A lien against the property secures the
        repayment obligation.
2
    Background

    l   Methodology introduced in Berkeley CA in 2008
    l   Enabled in Texas by HB 1937 (became effective 9/1/09)
    l   San Antonio PACE Task Force has been meeting since
        August
        –   Representation from Solar San Antonio and solar industry

    l   The White House has determined PACE to be a priority
        mechanism for retrofitting buildings (access to grant
        opportunities).
    l   Operational Programs in Berkeley, Palm Desert, and
        Sonoma County California, as well as Boulder County
3       Colorado.
    Benefits of PACE

    Removes historical barriers to energy efficiency
    and renewable energy installations:

    l   Eliminates initial capital requirements;
        replaced with yearly payments that correspond
        to the lifespan of the installation.
    l   Attaches repayment obligation to property,
        not the individual; payments are passed to the
        next owner until the measures are paid off.

4
    San Antonio PACE Goals

    l   Will be accessible to residents and
        businesses of all income levels.
    l   Will incorporate both solar and energy
        efficiency upgrades to properties.
    l   Will be sustainable, scalable, and flexible; it
        will be self sufficient with little to no public
        financial support.

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              Special
            Assessments      CITY HALL                 Program Applications

             Financing                                  Program Information
             Proceeds
Financing                   Program
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Mechanism                 Administration
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                                                                                                                                 CPS
6                                                                                                                               Energy
                                         Program Coordination
                 Current Situation                              PACE Implementation

                                                                                                   Awareness /
                          Financing




                                                                        San Antonio PACE Program
            Audit /                                                                                Education
          Evaluation
                                                                                                   Enrollment
                                           Installation
                                                                                                   Audit /
                                                                                                   Evaluation
                                                                                                   Financing
                                              Rebates /
    Enrollment                               Tax Credits                                           Installation
                        Homeowner                          Homeowner                               Rebates /
                                                                                                   Tax Credits
                                                                                                   Measurement
                                                                                                   & Verification
          Awareness /                 Measurement
           Education                  & Verification

       • Lack of awareness & participation • Increased market participation
       • Citizen responsible for project   • One-stop coordination of projects from
         coordination                        enrollment through implementation
7      • Unknown impact & results          • Measured impact & results
                        Participant Process
    l   Application: Participant must release access to utility bill
    l   Home Energy Audit: From city-approved contractor. Results
        determine which measures to install. Cost of audit incorporated
        into loan.
    l   Cost Estimates: Participants obtain written "not to exceed"
        estimates from pre-approved contractors.
    l   Review of Proposal: Review of audit and bid information to
        ensure the proposed measures have a positive savings to
        investment ratio.
    l   Obtain Funding: City obtains funding through financing
        mechanism (TBD)
    l   Notice to Proceed: Issued to contractors.
    l   Completion of Projects: Inspection by City or PACE Program
        Administrator.
    l   Contractor Payment: City or its designee will directly pay
        contractor.
    l   Repayment: Loans repaid via assessments on participant’s tax bill
    l   Measurement and Verification: Review of energy consumption
        Determine program performance and which measures have
        greatest impact.
8
    Proposed Eligible Measures

    Renewable Energy           Energy Efficiency

    l   Solar Electric         l   Air sealing and ventilation
                               l   Insulation
    l   Solar Thermal
                               l   Space Heating and Cooling
    l   Geothermal
                               l   Water Heating (including
    l   Peak storage devices
                                   solar hot water)
                               l   Windows, Doors and
                                   Skylights
                               l   Reflective Roof

9
     Measuring Performance

     l   PACE Program Administration will coordinate with
         CPS Energy to collect and analyze information
         related to program performance:
         –   Consumption Metrics:
              l   Energy Savings (Electricity / Natural Gas / Propane)
              l   Carbon (and other emissions) savings
         –   Financial Metrics:
              l   Project Cost per participant
              l   Annual Energy Savings (in dollars) per participant
              l   Payback Period (years) per participant
              l   Savings to Investment Ratio per participant
              l   Jobs Created

10
     Outcomes

     l   Reduce energy consumption in both the residential and
         commercial sectors, saving residents and business owners
         money.
     l   Allow San Antonio to expand their green jobs workforce in
         the home improvement contractor and renewable energy
         sectors.
     l   Provide opportunities for local financial institutions to invest in
         environmentally sustainable projects that have modest
         returns and a high degree of security.
     l   Be implemented at no cost to taxpayers; all costs are
         covered by program participants.

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