In hundreds of counties and cities across America, local officials are embracing Property Assessed Clean Energy (PACE). PACE effectively expands access to credit to help property owners improve or repair their properties with efficient products, while creating and sustaining local jobs at no cost to public budgets. Solution-oriented mayors like us appreciate the innovation and value of PACE – which is why it’s bewildering to see lawmakers in Congress trying to kill it off.
PACE has bipartisan appeal – and is also supported by groups as varied as the National Association of Manufacturers and the Natural Resources Defense Council – because it offers a free-market approach to advancing public-policy objectives. PACE gives property owners access to private capital to make energy, efficiency and resiliency improvements to their properties; the financing is then repaid at a fixed rate through an additional line item on the owner’s property taxes.
Read the full op-ed.(The Hill; Authors: Jeri Muoio Ph.D. (D), Mayor of West Palm Beach, Fla. and Rex Parris (R), Mayor of Lancaster, Calif.)