John Chiang – Photo by Terry Miller
State Treasurer John Chiang has announced the suspension of administrative fees for the Property Assessed Clean Energy (PACE) Loss Reserve Program, which allows California homeowners to finance energy and water efficiency projects through property assessment payments over a five-, 10- or 20-year period.
“This popular program enables homeowners to finance energy-efficient windows, heating and air-conditioning systems, solar power and water conservation measures,” Chiang said. “I hope that by cutting fees we will make it more affordable for more Californians to make green investments in their own homes.”
The program, which currently supports $350 million of PACE financing, is part of the State’s larger efforts to promote California-based jobs and reduce greenhouse gas emissions while limiting air and water pollution. The fees were cut when the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA), chaired by Chiang, adopted emergency regulations at a meeting Tuesday in Sacramento.
