DOE Best Practice Guidelines for Residential PACE Financing: Consumer Protections PACE Nation Summit February 14, 2017

DOE PACE Guidelines: Consumer Protections Determine Homeowner eligibility Ensure borrowers can afford PACE assessments; underwriting procedures that include income and debt obligations Include triggers for additional underwriting Additional protections for low-income households (add’l screening, coordination with low-income services, monitoring) PACE disclosures and verification of terms Require disclosures equivalent to Truth-in-Lending with additional disclosures specific to PACE transactions Require recorded phone call prior to authorization of financing to verify scope of work, PACE terms and repayment structure, and notification of right to cancel Default and foreclosure prevention Rigorous underwriting, including thresholds for large projects for low-income Recommend programs consider developing mechanisms to prevent foreclosure, including temporary forbearance and modification of the assessment Dispute resolution procedures Require customer complaint resolution procedures Identify state or local program administrator responsible for oversight functions, including contractor licensing and monitoring PACE program activity and performance

DOE Resources and Technical Assistance DOE Better Buildings Summit Residential PACE Workshop Learn about PACE program design strategies and implementation resources from DOE Best Practice Guidelines May 15-17th, Washington, DC Residential PACE Impact analysis (LBNL) Analysis of impacts of PACE programs in CA on energy savings, efficiency measures, homeowner costs and benefits DOE Partnerships, Tools and Resources Better Buildings Residential Network Home Performance with ENERGY STAR Home Energy Score Residential Program Solution Center https://energy.gov/eere/buildings/about-residential

DOE Contacts Steve Dunn, Program Manager Building Technologies Office steve.dunn@ee.doe.gov Eleni Pelican, Policy Advisor Weatherization and Intergovernmental Programs Office eleni.pelican@ee.doe.gov