www.whitehouse.gov/assets/documents/PACE_Principles.pdf
As professionals dedicated to the promotion of green and energy efficient housing, we have been faced with finding ways to pay for energy upgrades. Under this plan the local government could assess taxes on properties that use a PACE fund to implement energy upgrades.
I have provided the link to the PACE program so you can better understand how this proposal is to work.
This program is said to have built in consumer protection, and overall benefits that would allow the consumer to realize savings greater than the tax assessed on the property. This could provide many more people with an opportunity to fund energy efficient improvements.
However, with any such government lending, the risks seem to be wide reaching. A large risk is in foreclosure and repayment. Under this program a home could be repossessed for failure to repay. While many banks and mortgage providers have varied ways in which to help home owners stay in their home, the government does not have the flexibility to offer repayment options. This could jeopardize thousands of homeowners currently faced with unemployment and under employment.
A far greater risk is the "setting" of service charges under such a program. While this program is set to use Energy Professionals such as Energy Auditors to preform retrofit analysis, it is also set to control the charges an auditor can charge under the program. This could easily cause energy professionals to not be competitive in their prospective market place. Simply put what someone would expect to pay in Michigan would not be the same in Washington DC where cost are significantly higher. This could have a direct impact on the quality of inspections being performed.
I want to hear from you on this program. Please share your thoughts and opinions. Let me know if you think this type of program will be effective, or create undue burdens on municipalities. Your opions and ideas matter! So speak out and let me hear what you think!
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