California’s AB 1284: Addressing Fraud in PACE Financing and Green Energy Projects

foundations of law and society

INTRODUCTION AND BACKGROUND

California’s Assembly Bill 1284 concerns the regulation of the state’s Property Assessed Clean Energy Program, or PACE Program. The PACE program is a financing method, the purpose of which is to provide both commercial and residential properties an affordable way to finance energy-efficient improvements.

In the PACE program, key actors include the program administrator, program solicitors, and contractors. A program administrator is an entity that administers a PACE program for a public agency, typically a city or county. Program administrators also provide financing for the PACE program, so they can also be referred to as PACE financers. A program solicitor is an organization authorized by a program administrator to solicit property owners into entering a PACE financing agreement. A contractor is someone that has been contracted to install the energy-efficient improvements in the property.

PACE programs were first promoted by the Obama administration starting in 2009 as…

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