Efficiency First

Grist staff writer Jonathan Hiskes reported yesterday that New York Congressman Steve Israel and two other House members met Tuesday with representatives of the Federal Housing Finance Agency (FHFA)  to discuss options for removing current regulatory barriers to property assessed clean energy (PACE)  financing. According to Hiskes’ report. Israel proposed a 30-month demonstration project involving 300,000 homes to “test out FHFA’s concern that PACE creates additional risk for mortgage lenders.”

Interviewed after the meeting, Israel is quoted as saying that ”Right now you’ve got the regulatory community advancing a theory about PACE bonds. You have PACE advocates advancing their theory. Let’s test out which theory is valid. At the end of the 30-month period we’ll have hard data on which to base decisions.”

FHFA officials declined to comment.

Read the rest of the report at www.grist.org/article/2010-07-20-fate-of-pace-clean-energy-programs-about-to-become-clearer.