Government Energy Policy, Business and Technology

Critics say bill to authorize PACE in Minnesota contains a fatal flaw

Energy News Network: A bill allowing local governments to offer residential PACE programs in Minnesota has gained bipartisan support and may likely pass this session.

But critics say the way the legislation prioritizes loans could prevent any residential PACE program from ever getting off the ground.

Residential PACE — Property Assessed Clean Energy – would offer Minnesota homeowners the option of paying off loans for energy efficiency and solar projects annually through their property taxes over terms of five to 20 years. Advocates believe PACE will hasten residential solar adoption and energy efficiency improvements, resulting in reduced carbon emissions down the line. The state already allows PACE financing for commercial properties.

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