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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