Green business, green careers and job training
Solutions that build smart communities with green careers and sustainable businesses!
HOME
EDITOR'S BLOG
FEATURE ARTICLES
GET STARTED

Save on Career Education through Lorman Education

Our readers are offered a discount on Lorman seminars and courses. Check out their business, management and legal offers at this link to qualify for our discounts. They also offer green business training opportunities. Please visit http://www.lorman.com/training/CaliforniaGreenSolutions for a complete listing of courses. Register online or call Lorman at 866-352-9539.
Home > By DEPARTMENTS > Buildings, Real Estate and Facilities > Green Building Practices for Sustainable Facilities > Energy Efficiency and Conservation for Facilities Management

California Sues Freddie & Fannie over PACE Energy Efficiency Financing

New financing methods for California homeowner remodeling for energy efficiency hits a snag ... but California fights back to support community action financing.

Find green business solutions
California State Attorney General Jerry Brown has filed a lawsuit against controversial mortgage companies Fannie Mae and Freddie Mac, and the Federal Housing Finance Agency, for opting out of a program that encourages residential solar installations. The PACE initiative, short for Property Assessed Clean Energy, lets California local governments loan money to homeowners through property-tax assessments so that they can afford to install solar panels and energy-efficient heating systems. Local governments raise the money by selling municipal bonds, and are repaid by homeowners over the next 15 to 20 years.

Because property-tax assessments are required to be paid back before mortgage investors in the event of foreclosure, Fannie Mae, Freddie Mac and their peers are up in arms. Their regulator, the FHFA, says that PACE does not ensure that homeowners have enough money to repay all their debts, leaving them dangerously vulnerable.

As a result, both mortgage giants have said they will not accept loans aided by PACE, even though the program has already won broad federal support and generous stimulus funding.

Brown, the Democratic nominee for California governor, says he filed the lawsuit so that the mortgage companies don’t get away with killing a program that could improve the state’s environment, boost its renewable energy generation, and create thousands of new jobs. His supporters say they will push for federal legislation to ensure PACE’s future.

PACE Ourselves

Not only will a robust PACE program help homeowner make their homes more energy efficient and more comfortable, especially in high heat and high cold regions -- but it will reduce the load on utility scale energy generation infrastructure and reduce the loss of energy through long distance transmission ... you know, the energy you can practically hear escaping with a sizzling sound during high humidity days.

PACE will also create green jobs in energy efficiency, solar PV, solar thermal and high performance roofing, insulation and HVAC systems.

To have the financial institutions objecting to finding alternative financing isn't surprising, just frustrating and ... well, infuriating.

So, you might want to write your legislators at all levels and let them know that alternatives are needed ... and suggest that Freddie and Fannie hear from THEM.



Edited by Carolyn Allen, owner/editor of California Green Solutions
Green Solution Providers
Green companies directory
Submit
your green solutions - business, nonprofit, government program.
It's free.
| pace |

Share in Social Media

Sign Up For News & Information
Subscribe to our free solutions newsletter
BONUS DOWNLOAD (PDF)
"Ten+ Tips for Greening Your Office"

SUBSCRIBE HERE
Read prior issues: California GreenLines

Search For Green Solutions

Custom Search
Green Career Center
Green Job Wizard
Career Certifications Directory

green job training certifications
Green Biz Center
Solutions For Green
Directory of Green Companies

Solutions for Alternative Energy

rose in natural systems
Green Living Center
Solutions for Green: Consumers

Solutions for Remodeling

Backyard Nature Center

INSTANT GREEN POLL

"Knowing is not enough; we must apply. Willing is not enough; we must do." Goethe
RECENT ARTICLES
SITE NAVIGATION
ABOUT US

Related Green Resources

Marcom Tips
Interactive & Video Tips

Career Resources

We encourage lifelong learning to support sustainable communities and provide these select resources to help you pursue green and sustainable self-development:

Lorman Business Training Directory of On-line Business and Compliance Classes

Green Job Wizard Job and Career Certifications Directory

Job & Career Resources

Governance
Management
Manufacturing
Operations
Facilities
Transportation
Finance
Sales & Marketing
Human Resources

Green Economy

Business Sectors
Natural Resources

Solutions For Green

About Us ~ Privacy Policy
Contact Us ~ Home

Text Link Ads

AD: Place your link here

ABOUT CALIFORNIA GREEN SOLUTIONS

We help you green your career, workplace and community by connecting you to quality green, sustainable and high performance resources. California Green Solutions focuses attention on effective solutions that sustain our natural systems. You can support our editorial work by supporting our advertisers and spreading the word about best practices and green solutions.
California Green Solutions is a publication of Carolyn Allen ~ Copyright ©2006-2030 Carolyn Allen

B2B | Job Certifications | Alternative Energy | Events | Green Directory | LED Lights | Remodeling |
CONSUMERS | Backyard Nature | Senior Health | MultiMedia Marketing | Marketing | Networking Events | Japan |