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Energy Technologies Area (ETA) researchers are continually building on the strong scientific foundation we have developed over the past 50 years. We address the world’s most pressing climate challenges by bringing to market energy-efficient innovations across the buildings, transportation, and industrial sectors. ETA is at the forefront of developing better batteries for electric vehicles; improving the country's aging electrical grid and innovating distributed energy and storage solutions; developing grid-interactive, efficient buildings; and providing the most comprehensive market and data analysis worldwide for renewable technologies like wind and solar.
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The Energy Technologies Area (ETA) is unique in translating fundamental scientific discoveries into scalable technology adoption. Our approach combines an understanding of the marketplace and the role of state and federal regulation and policies. ETA's research drives real-world, practical results that affect and improve the everyday lives of Americans and those across the globe. Saving energy and battling the Climate Crisis are key to the foundation of our research, which is driven by technoeconomic analysis and in-lab experimentation and discovery.

Residential Property Assessed Clean Energy in California: Feasibility of Studying Impacts on Mortgage Performance and Energy Savings

Publication Type

Policy Brief

Date Published

01/2016

Authors

Fadrhonc, Emily Martin, Jeff Deason, Liesel Hans, Ben Hoen, Steven R Schiller, Lisa C Schwartz

Abstract

Property assessed clean energy financing (PACE) is a highly secure form of financing that can be used to fund clean energy and other improvements on private property. PACE assessments are repaid through property tax bills, transfer from one property owner to the next, and can accommodate long-payback projects. Over 47,000 residential PACE assessments worth nearly $960 million have been placed across California.

Several important but unanswered research questions surround PACE financing. Because PACE assessments in California are senior to mortgages, a PACE assessment might reduce the funds available to repay a mortgage holder in the event of default and foreclosure. PACE payments also introduce a new expense that may impact homeowners’ overall ability to pay.

Many stakeholders question how PACE may impact mortgage performance. Understanding actual (versus projected) energy savings attributable to PACE-funded projects, for comparison to other financing-and non-financing focused energy-saving interventions, is also of interest.

Year of Publication

2016

Residential Property Assessed Clean Energy in California: Feasibility of Studying Impacts on Mortgage Performance and Energy Savings

Publication Type

Date Published

Authors

Abstract

Year of Publication

Organization

Research Areas

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