PACE Act of 2023

Bill 118 HR 4880, also known as the PACE Act of 2023, is a piece of legislation currently being considered by the US Congress. The purpose of this bill is to address issues related to the Property Assessed Clean Energy (PACE) program, which provides financing for energy efficiency and renewable energy projects for residential and commercial properties.

The PACE Act of 2023 aims to establish uniform standards and guidelines for PACE programs across the country. This includes requirements for consumer protections, disclosures, and underwriting standards to ensure that property owners are fully informed and protected when participating in a PACE program.

Additionally, the bill seeks to increase transparency and accountability within the PACE industry by requiring regular reporting and oversight of PACE programs at both the state and federal levels. This will help to prevent fraud and abuse within the industry and ensure that PACE programs are operating in a fair and responsible manner. Overall, the PACE Act of 2023 is designed to promote the growth of clean energy projects while also protecting consumers and ensuring the integrity of the PACE program. It represents a bipartisan effort to address important issues within the energy efficiency and renewable energy sectors and has the potential to have a positive impact on both the environment and the economy.