A Sunday panel on the Property Assessed Clean Energy (PACE) market agreed that 2018 was an “eventful year” for both residential and commercial PACE, and though speakers said they had observed an increased appetite for private placements as well as larger deals across the sector, some policy headwinds persist.
“For residential PACE, it was a bad year,” said Brock Wolf, executive director at Natixis. “Volumes were down substantially, [especially in] California when regulations went into effect.”
Commercial PACE fared somewhat better, with issuance volumes up modestly by around $270m in 2018, Wolf said.
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