Thoughts on Solar by Run on Sun's Founder & CEO, Jim Jenal

Residents Will be able to Qualify for AB 811/PACE Funding

On Monday, June 14, with little fanfare or public attention, the Pasadena City Council approved a Resolution making Pasadena the first city to join the LA County Energy Program (LACEP).  The Resolution clears the way for Pasadena residents to apply for Property Assessed Clean Energy (PACE) funding under the County’s AB 811 program, LACEP.  As we have reported here before, the LACEP will allow homeowners to borrow money from the County (funded through the sale of bonds) to finance energy efficiency measures and solar energy projects.  Those loans are then paid off over twenty years as part of the homeowner’s annual property tax assessment.  If the owner sells the property, the assessment “runs with the land” and the new homeowner (who receives the benefit of the improvements) assumes the assessment.  The County expects to begin accepting applications under the LACEP in the Fall.

Run on Sun has been a strong supporter of the LACEP concept and we are working hard with County officials (meeting with them as recently as this past Tuesday) to make the program work as well as it can for residents and small businesses alike.  While we still have some concerns over the details in the program - including the interest rates that will be charged (9% or more?), eligibility requirements for homeowners (at least 20% equity in the home - but based on what assessment?), the process for certifying qualified contractors to do the work (to protect the county’s investment, the homeowner’s property and the reputation of the solar industry), and the timeliness of payments to homeowners and contractors - we believe that if done correctly, this program could be a great benefit for all involved.

Run on Sun is pleased and proud that Pasadena - our hometown - has become the first of the 88 cities in LA County to get on board.  How about your city?  When will they get in?  If you need more information on what your city should be considering, here is a link to the Staff Report that was submitted to the Pasadena City Council.