Rocco Fabiano, THE PRESS DEMOCRAT
Nearly a decade ago, Sonoma County became the first county in the nation to offer an innovative financing option to encourage homeowners to invest in projects that reduced energy consumption and provided for a cleaner environment. Known as PACE, for property-assessed clean energy, the program made it easier to pay for renewable and energy-efficient upgrades by allowing homeowners to finance these projects through their property taxes. This program was designed to provide a vehicle for promoting important public policy initiatives, without using tax dollars or tax credits.
The Sonoma County program, known as SCEIP, was launched after California passed the most comprehensive legislation in the country to address climate change, with the goal of improving the environment while maintaining a robust economy. The fact that these pioneering programs were birthed in California was no accident.
The Golden State has long been a leader in addressing climate change, one of the most pressing challenges of our time. Residential PACE programs have now been approved in more than 50 California counties and have spread to Florida and Missouri. In California, the program has been expanded to support other public policy initiatives, including water conversation and seismic retrofits.
But now this program is in jeopardy of collapsing under the weight of new regulations. Losing PACE would have the unfortunate effect of eliminating strong economic and environmental benefits for our region.