Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Clean Energy Finance topic
No spam. Unsubscribe anytime.
Supervisor Farrell introduces package to expand Green Finance SF PACE options and consumer protections
Summary
Supervisor Mark Farrell introduced a three-part package to expand Green Finance SF PACE participation to more certified residential providers, create a small-commercial PACE product for projects between $50,000 and $1 million, and adopt consumer-protection and data-sharing standards consistent with a regional ABAG collaborative.
Supervisor Mark Farrell introduced on April 25 a package of policies intended to build on the city's Green Finance SF program, which uses Property Assessed Clean Energy (PACE) financing to support energy efficiency and water-conservation upgrades.
Farrell said the program, administered by the Department of the Environment, has financed roughly $7.2 million of projects at 167 residential properties in just over two years, producing estimated utility savings and greenhouse-gas reductions cited at the meeting. Farrell's package contains three components: authorize three new certified residential PACE providers to participate in the local Green Finance SF program to increase competition and choice; establish a commercial PACE program for small commercial projects sized between $50,000 and $1,000,000 to respond to emerging demand; and adopt ABAG's regional collaborative services agreement to ensure residential PACE providers in the local market follow consumer-protection and data-sharing best practices.
Farrell said the program operates at no cost to the city and credited it with local greenhouse-gas reductions equivalent to taking over 1,300 cars off the road per year and utility bill savings for participants. The introduction asks the relevant departments to pursue the administrative and ordinance steps needed to authorize additional providers and a small-commercial product, and to adopt the ABAG consumer-protection framework.
Ending: Farrell's introduction sets program expansion and consumer-protection work in motion; policy and implementing departments will carry out needed technical, legal and programmatic steps.
