Political Power Boosts Controversial Green Energy Financing Scheme
Posted By Lachlan Markay On January 16, 2017 @ 5:00 am In Issues | No Comments
As an innovative but controversial green energy financing mechanism picks up steam, hacked communications from a former White House official provide previously unreported insight into the confluence of public policy, private investment, and political money that helped fuel its rise.
Property Assessed Clean Energy (PACE) is quickly gaining popularity as a means of outfitting commercial and residential properties with solar panels, energy efficiency improvements, and other environmentally conscious modifications.
PACE allows homeowners to finance those modifications through loans from private lenders and to pay back those loans through their property tax bills. Local governments that levy those taxes pass on the assessments to the lenders.
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