Resi PACE issuers maneuver to navigate policy headwinds

Green bond
By Jennifer Kang
17 Apr 2019

Residential Property Assessed Clean Energy (PACE) finance companies are looking to re-educate contractors and more directly market PACE to consumers in order to clear policy hurdles that have stifled origination volumes over the past year.

According to Morningstar Credit Ratings, R-PACE origination volumes have dipped as much as 50% in 2018 from prior levels due in part to California’s consumer protection rules enacted in 2017. However, the approval rate for PACE is still high, suggesting that the drop in volume is not caused ...

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