California Legislature Approves Landmark PACE Legislation

September 16, 2017
Legislature Passes Bills To Reform PACE Energy Efficiency Loan Program

Two landmark PACE reform bills, AB 1284 and SB 242, passed the California Legislature late last week and are now awaiting Governor Brown's signature. Both bills passed the California legislature with overwhelming bi-partisan support (72-0 in the Assembly and 34-2 in the State Senate).

PACE, which is already the most successful energy financing program in California history, just got better with the passage of these bills that will strengthen consumer protections and establish a regulatory framework for the PACE industry.  The companion bills are the result of a year of development and negotiations that Renew Financial was a key part of and are aimed at improving PACE by strengthening consumer protections.

Read more about the legislation via the LATimes.