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Board approves Green Finance SF PACE expansions and new small-commercial program
Summary
Supervisors unanimously approved a package to authorize new residential PACE providers, create a small-commercial PACE program and join a regional consumer-protection standards agreement for property-assessed clean energy (PACE) financing under Green Finance SF.
The Board of Supervisors unanimously adopted a package of resolutions and related actions (items 5 through 11) expanding Green Finance SF, San Francisco's property-assessed clean energy (PACE) financing program.
What passed: The package (filed as items 5'11) did three primary things: (1) authorize three new certified residential PACE providers to participate locally and increase competition; (2) establish a new small-commercial PACE program for projects between roughly $50,000 and $1,000,000 in value (to complement the city's existing large-commercial program); and (3) sign on to a regional collaborative services agreement that establishes consumer-protection and data-sharing standards for participating PACE providers.
Sponsor remarks and program outcomes cited: Supervisor Mark Farrell described the program's results since its restart: the department had financed approximately $7,500,000 in projects at over 160 residential properties and reported energy, bill and water savings and greenhouse-gas reductions. The department said more provider competition and a small-commercial product would expand access for homeowners and small businesses seeking energy-efficiency and water-conservation upgrades.
Implementation and oversight: The Department of the Environment will administer the program locally, certify participating providers and apply the ABAC/regional consumer-protection standards. Richard Chen of the Department of the Environment answered board questions and said staff would be available for follow-up.
Vote: The resolutions were adopted unanimously (voice vote recorded as unanimous). The board also handled related routine items that implement collections and program administration.
Speakers: Supervisor Mark Farrell (sponsor), Richard Chen (Department of the Environment) and supporting supervisors and staff.
Context: PACE programs let property owners finance energy- and water-efficiency upgrades via assessments on property tax bills. The board's actions expand local program options and add consumer safeguards via the regional agreement.
