Seat Open on Virginia’s Board of Housing and Community Development

VAEEC Members Encouraged to Apply or Suggest Nominees

February 2017: Virginia’s Board of Housing and Community Development will be filling one seat early this summer. VAEEC would like to see a strong number of diverse nominations representing the energy efficiency industry.

Why is this important to VAEEC?

Members of the governor-appointed Housing and Community Development Board guide and vote upon the content of Virginia’s triennial update of building codes – including the energy efficiency code. Currently Virginia lags behind our neighbors to the north and south for requiring some of the advancements in efficiency standards and testing. Advanced energy codes are among the most cost-effective methods of saving energy, lowering the total cost of housing, improving health and comfort in homes, and improving quality throughout the homebuilding industry. Learn more about the importance of strong energy codes from the U.S. Department of Energy and the Responsible Energy Codes Alliance.

What can you do?

The open seat is in Virginia’s 1st congressional district, and nominees have to reside in the district to be eligible. The 1st district is represented by Rob Whittman and stretches from Williamsburg up through Fredericksburg and Stafford. Not sure if you reside in this district? Check who your legislators are here by entering your address in the yellow circle.

The seat will be filled by July 1, but the administration is expected to identify candidates soon.

Please reach out to me at chelsea@vaeec.org if you’d like to be nominated or can suggest a candidate worthy of support.

Learn more about the Board and the nomination process.

Drumroll please…our 2016 Annual Report

Note from VAEEC Executive Director Chelsea Harnish

Last year was an exciting year for the Virginia Energy Efficiency Council. We are highlighting our successes with our 2016 Annual Report  available now for download.

Over the last 12 months, we have:

  • Expanded our staff
  • Re-branded the organization
  • Enhanced our communication with members and regularly sought their feedback
  • Launched our campaign to support PACE implementation in localities across the Commonwealth
  • Increased our engagement in regulatory processes- including utility regulation at the State Corporation Commission and providing support to members participating in the building codes cycle update
  • Solidified our role as the education and outreach partner for the Governor’s Executive Committee on Energy Efficiency
  • Launched the very first Virginia Energy Efficiency Leadership Awards Ceremony highlighting the amazing work happening across the Commonwealth in our sector.

Our members know energy efficiency has tremendous potential to drive economic growth, create jobs, shrink utility bills, conserve natural resources, and reduce pollution. In fact, preliminary numbers from our 2016 Clean Energy Census indicate that building energy efficiency alone accounted for $1.2 billion in annual revenue.

The Virginia Energy Efficiency Council is the voice for the energy efficiency industry in the Commonwealth, which is why our membership increased an astounding 21% over the last year. Our members include Fortune 500 companies, universities, nonprofits, local governments, state agencies, and utilities. The Council’s goal is to ensure energy efficiency is recognized as an integral part of Virginia’s economy and clean energy future.

In 2017, we will build on our successes over the last year and continue to play a pivotal role in advancing energy efficiency in Virginia. Some things we are already doing/ planning:

  • Utility Regulation: Intervening in support of Dominion’s energy efficiency programs in their DSM proceedings before the State Corporation Commission this spring and participating in the SCC EM+V protocol proceedings later this year.
  • Building Codes: Participating in work group meetings this spring and summer and engaging with board members and staff of state agencies who oversee the building code update cycle.
  • PACE: Engaging with local government staff in Arlington County, Richmond (and surrounding counties), Charlottesville, Norfolk, and Roanoke to answer questions on PACE implementation; participating in Richmond’s official PACE stakeholder group and holding events throughout the commonwealth to educate property owners/ managers, financiers and contractors on the benefits of PACE to their work.
  • Governor’s Executive Committee on Energy Efficiency: Continue working with our ‘Roadmap Team” to play a supporting role to the GEC’s efforts
  • Membership Engagement: Continue to expand our communications with our membership through our annual member survey, e-newsletter and social media accounts, and the launch of our bimonthly webinar series (the next webinar focuses on Industrial Efficiency and is scheduled for 2/28. You can register here.).
  • Events: Continue hosting our biannual member meetings with expanded programming and hosting our second inaugural Virginia Energy Efficiency Leadership Awards Ceremony in the fall.

Since 2017 is also an election year here in Virginia — where Virginians will elect a new Governor as well as elect a Lt. Governor and Attorney General — we plan to educate all statewide candidates on the benefits of energy efficiency and introduce them to our work, particularly our partnership with the state energy office. It is important that no matter who our new leaders are, they understand the many benefits that our industry provides to the Commonwealth.

The next 12 months are going to be exciting for the VAEEC and its members and we look forward to our continued work with all of you.

Download our 2016 Annual Report. 

Nest: February 2017 Featured Member of the Month

“Over the last several years, smart thermostats have opened up new opportunities for residential Demand Response programs, helping to achieve load management goals at reduced cost, while bringing additional benefits such as energy efficiency and improved customer satisfaction. Having worked with a diverse set of energy partners, Nest has been able to glean a much clearer picture of what induces customers to sign up for demand response programs, and what keeps them happy once they’re enrolled.”

That’s an excerpt from a 2016 white paper on the Rush Hour Rewards demand response program offered by VAEEC Gold member – and February 2017 Featured Member of the Month – Nest.

Launched in 2014 to help utilities deal with summer peaks, Nest’s Rush Hour Rewards program runs on the Nest Learning Thermostat. The program centers on running personalized events that maximize load reduction while maintaining customer comfort. Deployed by 18 utilities in North America with more launching this summer, Rush Hour Rewards is available in winter and summer versions.

Some performance highlights:

  • An average of 55% aggregate HVAC load reduction during events
  • Over half of customers report increased satisfaction with their energy provider after participating

The Rush Hour Rewards white paper breaks down the keys to getting
customers in the door and ways to keep them happy. It also provides guidance for utilities in figuring out what DR program model would work
best for them.

To get a copy of the white paper, reach out to Dave Bend (davebend@nestlabs.com) , Nest’s Head of East Coast Energy Partnerships. You can also take a look at their Rush Hour Rewards fact sheet

Getting customers in the door:

  • Make customers feel rewarded—up-front incentives paid directly to the customer pack the biggest punch.
  • Although rewards are important, just as many people are motivated to sign up for environmental reasons as for rewards. Different customers respond to different messages.
  • If you want a customer to participate in DR, help them understand what they are signing up for and why they should care.

Keeping customers satisfied:

  • Rewards and comfort matter most, but you can’t forget the impact of a customer’s enrollment experience on overall satisfaction.
  • Not all rewards are created equal—simple, annual reward structures outperform other models. And large one-time rewards can backfire when the customer expects the same reward again and discovers that it will not be forthcoming.
  • Allowing customers to adjust the temperature during an event if they need to has a minimal impact on overall program performance, and strong upside in terms of customer satisfaction and ongoing program participation year after year.

Wading into the Trump era of Energy Efficiency (ACEEE blog post)

Lowell Ungar, Senior Policy Advisor with the American Council for an Energy-Efficient Economy, wrote the following blog post on what the future of energy efficiency looks like under the Trump administration.

 

Barely one week into the new administration, we are far enough into the water to see dim shapes of the future ahead—some look more like sharks, some like rocks. Here’s some of what we see as of now:

Department of Energy programs face an undertow. In his confirmation hearing Secretary-designee Rick Perry was surprisingly supportive of DOE’s research and the national labs (for someone who once called to axe the entire agency). But President Donald Trump ordered a broad hiring freeze as a first step toward reducing the federal workforce. There is also reportedly a proposal to eliminate the whole Energy Efficiency and Renewable Energy Office (among others) in a broad budget outline that may be released in February. We are gearing up to support the efficiency programs when Congress takes up funding bills for the rest of 2017 in April and for 2018 later this year.

Appliance standards may be treading water for now. Although three recent standards could be subject to repeal under the Congressional Review Act, they do not appear to be prime targets, based on several meetings with congressional staff. On the other hand, five standards that were finalized but not officially published (as well as a manufactured housing standard that was under final review) may be caught in a temporary moratorium on regulations issued by Trump’s chief of staff Reince Priebus.

Vehicle standards face submerged reefs. The standard for trucks and buses also could be subject to congressional repeal, but it does not appear to be at the top of the target lists. On the other hand, Trump suggested he will ease regulations on car companies, which could include the fuel economy and tailpipe emissions standards for cars and light trucks. In any case, California will very likely maintain its emission standards, which apply in 12 other states as well.

Clean Power Plan may be dead in the water. The new White House website says Trump is “committed to eliminating…the Climate Action Plan,” and Environmental Protection Agency Administrator-designee Scott Pruitt said he continues to oppose the Clean Power Plan rules on carbon emissions from existing power plants. The next step may depend on an imminent ruling from the DC Court of Appeals. But regardless of the fate of this rule, the critical issues of clean air and public health will remain.

Tax reform and infrastructure are about to dive in. Trump continues to talk about infrastructure investment and cutting taxes as ways to spur economic growth. Congress is interested in tax reform but concerned about increased spending. These issues may be paired, starting with a 2018 budget resolution in late spring but extending into the fall. We have joined with other efficiency supporters to send up proposals for tax reforms and investments that increase efficiency. Still on shore is a farm bill that could foster efficiency in rural areas.

Regulatory reform is making waves. Trump signed an executive order directing that for every new rule, two be repealed, and limiting the combined cost (no mention of benefits) of the new and repealed rules, unless prohibited by law. He also has continued his statements against regulations, including a perhaps hyperbolic intent to “cut regulations by 75%, maybe more.” The House has already passed a few bills to make it more difficult to issue new rules or easier to repeal recent ones, but they do not appear to have the 60 Senate votes needed to overcome a filibuster. We and other efficiency supporters sent a letter cautioning Congress not to lose the benefits of appliance standards.

Federal efficiency policy may indeed be in troubled water, but we will seek to keep vital policies and programs afloat while also working at the state and local levels, which are partly sheltered. Following the example of our founders like Art Rosenfeld, our focus will remain on empirical research and analysis, which we trust will show that energy efficiency remains a crucial support for economic development, job creation, and consumer benefits.

 

Update on Energy Legislation in Virginia General Assembly

The short 2017 Virginia General Assembly is now in session. The VAEEC has taken the following positions on energy efficiency-related bills up for consideration:

VAEEC supports HB 1465 (Sullivan)/ SB 990 (Dance)– Requires DMME or GEC to continue tracking progress towards 10% energy reduction goal (SB 990 passed out of committee 1/23 and is headed to the Senate floor; HB 1465 will be in the energy subcommittee of Commerce and Labor on 1/31; SB 990 passed out of the Senate on 1/31 and will go to the House; HB 1465 was passed by indefinitely on 1/31; SB 990 passed out of the House on 2/17).

VAEEC supports HB 1712 (Minchew)– ESCO coalition bill; amends language on cooperative procurements related to energy performance contracts (Passed out of subcommittee unanimously week of 1/16; passed out of the General Laws committee unanimously on 1/24; will go to the full House for a vote during the week of 1/23; passed out of the House on 1/31 and will go to the Senate).

VAEEC opposes HB 1658 (Marshall)– Anti-benchmarking bill; prohibits third party access to data without consumer consent. This bill will not change current law since third parties cannot access consumer data without the consumer’s consent. After convening a workshop on benchmarking that included VAEEC, several of our members and board members and other interested parties — such as property managers, legislators and homebuilders —  the Department of Mines, Minerals and Energy (DMME) plans to continue those conversations over the course of the year in the hopes of coming to consensus on what a benchmarking program could look like in Virginia. We advocate allowing that process to develop a consensus-based approach to the data access/benchmarking issue instead of preemptively preventing it.

This bill was passed by indefinitely in the subcommittee with a letter to DMME asking them to convene a stakeholder group to discuss the issue of data access.

 

Stay tuned for updates.

Update: GEC’s Consistent Messaging Working Group

Through the Governor’s Executive Council on Energy Efficiency (GEC), the VAEEC was tasked with leading a working group on consistent messaging to help utility and private providers in the Commonwealth deliver similar messages to consumers regarding energy efficiency benefits and programs.

Numerous energy efficiency resources and programs are currently available, which often leads to consumer confusion. Therefore, the goal was to create recommendations to help develop consistent, actionable messaging stakeholders can use to make the energy efficiency education process more effective and to reduce that confusion.

The working group convened three times to:

  • Review message testing results (you can see the Virginia Energy Sense presentation on research here)
  • Discuss energy efficiency-focused programs happening throughout Virginia and other states (you can watch the webinar from one of the meetings with a presentation by Brian Blackmon with the Knoxville TN Sustainability Office), and
  • Create a list of best practices.

These meetings resulted in the development of six recommendations, which were presented to the GEC.

All six recommendations were carefully crafted with the objective to help consumers become better educated about their energy efficiency options, save money, and improve their health and safety while further advancing energy efficiency throughout the Commonwealth. Creating more effective partnerships among energy efficiency stakeholders and between these stakeholders and other consumer advocacy groups is a resounding theme among the recommendations. While it is vital for energy efficiency stakeholders to better communicate and work with each other, we should also partner with health and safety and low-income assistance groups who tend to already have positive relationships with consumers.

VAEEC worked with the members of this group to finalize all six recommendations and presented them to the Governor’s Executive Committee on Energy Efficiency in 2017.

 

 

VAEEC Makes the Case for Building Codes as Carbon Pollution Reduction Tool

On January 10, 2017, VAEEC and LEAP made the case for Virginia adopting the model energy codes for new buildings before the EO-57 Working Group. This is a group convened by Secretary of Natural Resources Molly Ward per Governor McAuliffe’s Executive Order 57 in the summer of 2016; the group is charged with recommending concrete steps to reduce carbon pollution from Virginia’s power plants using existing authority; a public comment period is open through April 30.

You can download our full presentation here. Learn more about EO-57 and submit your comments here. 

Our case was greatly strengthened by the fact that two of the day’s six other presenters also recommended building codes as among the most cost-effective strategies for minimizing greenhouse gas emissions. They mentioned codes as preferred options, and we got into the details of how Virginia’s code update process works, where Virginia deviates from the model codes and what that costs new homebuyers, and how the Working Group’s representatives might intervene. We included data suggesting that even improved compliance with the current code would obtain real benefits for emissions reductions and for new homebuyers.

Our specific recommendations were as follows:

  • Provide guidance to DEQ and DMME staff regarding how to participate in code update process (e.g., submit comments, support amendments).
    Create an ex-officio seat for DMME staff on the Board of Housing and Community Development.
  • Direct DHCD and DMME to enter into an MOU for information sharing.
  • Ensure that it is the policy of DHCD to provide expert guidance regarding building science to inform the code update process.
  • Fund/support a study of compliance with current codes.

The triennial update to Virginia’s building codes is an administrative process managed by the Department of Housing and Community Development and involving many stakeholders. Energy conservation is still considered a relatively minor issue by many of the current participants in this process. The VAEEC is committed to educating all participants about the many benefits of adopting and enforcing rigorous energy codes.

As we pointed out, strong codes are a win for:

  • Environmental policy (global warming, resource use)
  • Energy policy (costs, grid stability, predictability)
  • The construction industry (deliver a more valuable, higher-quality product
  • The mortgage industry (32% less risk of default (IMT/UNC report)
  • Local jobs (framing and insulating don’t happen overseas)
  • Affordable housing (lowers total cost of housing and increases predictability of monthly costs)
  • Home buyers/renters of all kinds (comfort, savings, predictability, air quality)

Not to mention people want it. A 2013 survey by the National Association of Homebuilders reports that 9 out of 10 homebuyers are willing to pay 2-3% more for a home that includes permanent energy efficiency features.

You can dig deeper into building codes in our October 2016 blog post “The impact and next steps of Virginia’s Board of Housing and Community Development on building codes” or by watching our December 2016 webinar “Building Codes as Energy Efficiency Driver in Virginia.” 

VAEEC staff and members will continue to advocate for advanced energy codes in Virginia through the coming year.

Chelsea Harnish is VAEEC Executive Director.

Andrew Grigsby is Executive Director of the Local Energy Alliance Program (LEAP) and a member of the VAEEC Governance Board. 

We’ve Got Momentum…Help Us Keep It Up in 2017

Keep Clean Energy Momentum Strong in Virginia with VAEEC by Keeping Us in Mind for Sponsorships

February 2017 update: The Spring Meeting will be held May 19th in Richmond. We are seeking 2 “Partners of VAEEC” top level sponsors at $500 and 3 “Friends of VAEEC” $250 sponsorships. Several webinar sponsorships are available throughout the year; thank you to David Gardiner and Associates for sponsoring our February 28th webinar on industrial energy efficiency. 

We might enter 2017 with a bit of uncertainty regarding clean energy and energy efficiency policies at the federal level, but we are poised to build on our strong momentum here in Virginia.

Indeed, the spotlight is shifting to state- and local-level energy policies and opportunities. And that’s where VAEEC can shine, with your help.

We have several opportunities for members and other partners to support the VAEEC network in 2017 through sponsorships. We’ll once again host two meetings — one in the spring (May) and one in the fall (November) — plus the Virginia Energy Efficiency Leadership Awards. These events need sponsors for the venue, breakout sessions, snacks, receptions and more. Stay tuned for information about sponsorship levels for those popular events.

We will also open our newly-launched webinar series to sponsors. Last year, we showcased work being done in Virginia on PACE financing and building code updates, which were both extremely popular. We will continue with a slate of 6 webinars planned for 2017. Topics will be announced soon, but any entity can sponsor a webinar for $50.

Please consider those sponsorship opportunities — as well as your membership commitment — during budgeting time. We also welcome financial donations beyond membership dues.

Together we can continue the strong momentum we’re riding into 2017.

The energy efficiency industry has been growing at a rapid clip, and our impact on Virginia’s economy is growing — as is an awareness and appreciation of that fact. Preliminary results from our 2016 Clean Energy Census (to be released in early 2017) indicate that building energy efficiency alone accounts for $1.1B in annual revenue.

In addition to those data points, we have qualitative evidence of energy efficiency’s tremendous potential to drive economic growth, create jobs, shrink utility bills, conserve natural resources and reduce pollution. The 18 winners (not to mention the other 30 applicants) of the inaugural Virginia Energy Efficiency Leadership Awards offer story after compelling story of energy and money savings for taxpayers, homeowners and businesses.

VAEEC is the voice for the energy efficiency industry in the Commonwealth. And, now more than ever, we need to amplify that voice.

Thank you in advance for keeping us in mind when you decide how to allocate your funds so that we can continue to move the needle — regardless of head winds — on energy efficiency in Virginia in 2017 and beyond.

Contact chelsea@vaeec.org to inquire about any of these sponsorship opportunities. 

Virginia Energy Efficiency Council Welcomes David Steiner of D+R International as Board Chair

Richmond, Virginia (December 13, 2016) — The Virginia Energy Efficiency Council (VAEEC) has welcomed a new Chair of the Board of Directors, David Steiner, President and CEO of D+R International Ltd. Steiner takes over at a critical moment for energy efficiency in the Commonwealth, with the industry growing at a rapid clip and the spotlight shifting to state-level energy policies.

“As we look to the future, the VAEEC knows we have a variety of challenges ahead of us to reinforce the power and benefits that energy efficiency can bring to Virginia,” said Steiner. “The VAEEC membership is a wide array of all that makes our Commonwealth function – from business to government, academia to laborers, and residential, commercial and industrial players. We will seek every opportunity to advance Virginia’s most cost-effective energy solution: energy efficiency. The VAEEC invites business, political and community leaders – of all stripes – to join us in leading Virginia forward.”

Steiner has led D+R International since 2010, a company with a 30-year history of supporting innovative program design for energy efficiency adoption. The company focuses on high quality data that brings greater understanding of energy efficiency opportunities and ultimately capture of energy savings. It has pioneered the Market Lift® program that has succeeded in pushing the market to higher efficient products.

David will be replacing Cynthia Adams as the Chair of the VAEEC. “On behalf of the entire VAEEC membership and Board of Directors, I want to express our heartfelt thanks to Cynthia Adams for her untiring leadership and passion in creating this voice for energy efficiency in the Commonwealth of Virginia,” said Steiner. “No doubt, the VAEEC would not exist without her guiding hand. She has been a stalwart advocate for ensuring that energy efficiency is top of mind with policy makers and program developers when confronting energy and environmental challenges. We look forward to her continued involvement and dedication to the next phase of our mission.”

“VAEEC and really the entire energy efficiency industry in Virginia owe a debt of gratitude to Cynthia,” said Chelsea Harnish, VAEEC’s Executive Director. “Since first conceiving of the idea of VAEEC five years ago, Cynthia has been a tireless champion of the organization and has provided sage counsel, a network of connections, and a reservoir of momentum. We look forward to her continued support as a member of the board and welcome the new leadership to the VAEEC Executive Committee.”

VAEEC will also welcome new executive positions on the board, with David Koogler, Vice President of Member Services & External Affairs for Rappahannock Electric Cooperative entering the role of Vice Chair and John Morrill, Energy Manager for Arlington County stepping in as Secretary. Bill Greenleaf Loan Officer with Virginia Community Capital will remain as Treasurer.

The 2017 VAEEC Board of Directors and Executive Committee:

Chair: David Steiner, D+R International

Vice Chair: David Koogler, Rappahannock Electric Cooperative

Secretary: John Morrill, Arlington County

Treasurer: Bill Greenleaf, Virginia Community Capital

Cynthia Adams, Pearl Certification

Bill Beachy, Community Housing Partners

Larry Cummings, Trane

Carla Dix, Columbia Gas of Virginia

Andrew Grigsby, Local Energy Alliance Program

Tom Jewell, Dominion Virginia Power

Saifur Rahman, Virginia Tech

Thomas Nicholas, City of Virginia Beach

Marisa Uchin, Oracle/Opower

 

Read more about the Board of Directors.

The Virginia Energy Efficiency Council is the voice for the energy efficiency industry in the Commonwealth. Our members include Fortune 500 companies, universities, nonprofits, local governments, state agencies, and utilities. The Council’s goal is to ensure that energy efficiency is an integral part to Virginia’s economy and clean energy future. Together, we are creating, implementing, and sharing energy efficiency solutions that keep costs down for residents and businesses, while improving the quality of life in our work and home environments. www.vaeec.org

First PACE Lunch + Learn

The Virginia Energy Efficiency Council is diligently working to build a coalition of support for Property Assessed Clean Energy financing, or PACE, and to provide guidance and resources to localities interested in developing PACE programs.  To assist with this effort, VAEEC has initiated a series of events across the Commonwealth suitably called “PACE Lunch + Learns”.  Each event is open to anyone interested in learning more about PACE; however, these events target commercial property owners, contractors, lenders, and local government officials.  Knowledgeable speakers from the field will provide attendees with information on PACE and answer PACE-related questions.  VAEEC is teaming up with different sponsors to host the events and provide a complimentary lunch to all in attendance.

On Monday, December 5, VAEEC and Williams Mullen kicked off the first Lunch + Learn for the Hampton Roads/Norfolk area with a diverse group of nearly 30 people in attendance. Speakers included Abby Johnson, Bill Nusbaum, and Rich Dooley.  Abby Johnson is the President and founder of Abacus Property Solutions, an independent real estate advisory firm.  Abacus provides PACE project development and consulting and works with capital partners to identify PACE opportunities and develop PACE programs.  Bill Nusbaum is an attorney with Williams Mullen, a full-service law firm, which is a key stakeholder in developing PACE financial underwriting guidelines with the Department of Mines, Minerals and Energy along with Abacus and VAEEC.  Rich Dooley is the Community Energy Coordinator with Arlington Initiative to Rethink Energy (AIRE) in Arlington County.  AIRE’s goal is to cut greenhouse gas emissions from County operations.  Arlington County is the first locality in the Commonwealth on track to develop a PACE program.

The presentation provided a wealth of knowledge for all in attendance as it covered many different aspects of PACE.  Here are my key take-aways:

  • PACE provides a win-win opportunity for property owners, contractors, localities, and lenders. Through PACE financing, commercial and multifamily property owners can receive 100% project funding for energy efficiency, renewable energy, and water conservation upgrades. The loan is paid back as a line item on the property tax bill, and in most cases, the utility savings from the funded projects cover the costs of the loan.  Additionally, as a senior lien status, PACE assessments stay with the property upon sale.
  • Contractors benefit from PACE through increased sales volume and improved profit margin. By helping customers reduce costs and improve the value of their property, customers are able to spend more on additional building improvements.
  • PACE spurs economic development within localities. Not only does PACE provides jobs, it improves building stock and increases property values, which produces more revenue for the jurisdiction.  PACE serves as a redevelopment tool for older buildings at little to no cost to the locality; third party providers carry the cost of starting and maintaining the program.  Furthermore, PACE helps decrease a locality’s carbon footprint.
  • Based on the types of questions posed by the audience, the advantages of PACE to lenders is perhaps the hardest to grasp. In order for a PACE program to be full-fledged and offer the most benefits to all parties involved, the existing mortgage holder must consent to allow PACE to take senior lien status. However, PACE is still beneficial to lenders because it increases the value of their collateral.  Moreover, PACE improves a property’s net operating income (through reduced utility bills), and the project is cash flow positive (the loan payment is typically less than the energy savings).  In fact, over 200 lenders nationwide have already consented to make their mortgage junior lien status because they recognize these benefits.
  • Arlington County is on track to become the first locality within the state to develop a PACE program. Other localities, such as Norfolk, the City of Fairfax, and Richmond have expressed interest in developing PACE programs.
  • To facilitate interest in and garner support for PACE, Arlington engaged with the real estate community and coordinated with the private sector and several County departments. By building a relationship with these groups, there was enough interest in PACE to begin developing a program.  Currently, Arlington is in the midst of finalizing a Program Administrator.  The program is on track to launch in early 2017.

Our next PACE Lunch + Learn is scheduled for Tuesday, January 31 in Ashland.  Stay tuned for a Lunch + Learn event in your area.

1 12 13 14 15 16 28