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PACE Financing – S.B. 242 – Skinner
This new legislation is intended to add consumer and lender protections to PACE financing. S.B. 242 includes a more rigorous application process designed to protect lenders. This includes provisions that insure the borrower’s income is enough to make payments. It restricts cash payments and other forms of incentives for applicants. The bill requires an oral confirmation of key disclosures to the applicant, intended to clear up the confusion over the loan vs. lien concern. In addition, the bill defines standards including a list of covered measures. Finally, it includes a provision to ensure the installed measures provide energy savings.
PACE has seen tremendous growth in the past two years. This bill is intended to provide guidelines to ensure it has a bright future. This financial tool is helping build our industry and we support this effort to bring consistency to the marketplace.
Energy Upgrade California’s New Look
The CPUC has shifted the EUC marketing campaign to a new advertising agency, DDB in SF. DDB jumped right in started a complete rebranding effort, including a new logo and other promotional and advertising materials.
We were surprised to see the new logo and outreach efforts, with little to no communication to contractors. Needless to say, we were not pleased that contractors were not made aware of the proposal or involved in the discussion. We expressed our concern and frustration with members of the CPUC and DDB SF, as once again we have been left out of the conversation.
In a surprising turn of events, DDB and the CPUC have responded. We are currently in dialog with the marketing folks at the CPUC and contacts at DDB to insure that contractors will be included in the process moving forward. We have been told that branding guidelines will be distributed near the end of the month and contractors can continue to use the previous version of the EUC branding materials for the near future.
We will continue to insist that contractors are part of the conversation and that the expense to contractors is a factor in future efforts. Stay tuned for further updates.