|Project: PACE - Clean Energy NOW|
Clean Energy Assessment Districts (CEAD)
Information about Vermont’s
Property Assessed Clean Energy (PACE) program
There is a new program available to help Vermonters invest in energy efficiency and renewable energy projects for their homes and businesses. The Vermont Energy Act of 2009, which recently became law in Vermont, includes a provision that allows for the creation of Property Assessed Clean Energy, or PACE, programs. This is a concept that has been approved in 16 states, and successfully implemented in California, New York and Colorado. Pace is being considered in many other locations around the country.
PACE is a voluntary program allowing individuals wishing to make eligible energy improvements to “opt-in” to a special assessment district created by their municipality. Energy efficiency and/or renewable energy improvements are funded by taxable municipal bonds or other municipal debt, repaid over a 20 year period. All improvement work must be performed by appropriately qualified and licensed contractors and must be approved by an energy efficiency utility and your municipality.
This is a list of eligible projects
Here is a preliminary check list for property owners to start the PACE registration process.
The spring 2010 town meeting vote authorized the Putney Selectboard to move forward on implementing a PACE program. This vote is not an authorization to borrow money for the program – only to study and implement procedures.
Putney has been awarded a grant to fund a PILOT PACE Program, as of 4/15/2010 there is no money available, and we do not expect funding prior to June 2010. Please contact Daniel (daniel @ putney . net ) if your interested!
Benefits to Vermont’s Economy
Next Steps: The implementation of PACE in each municipality requires a public warning for a vote on Town Meeting Day, 2010. Each municipality will then have to make decisions about the parameters of their particular program. VEIC - Efficiency Vermont and the Vermont League of Cities and Towns will provide support and model documents to assist in the implementation. Please consider writing a letter of support to your town, or newspaper.