PFS believes that there are three major components to building a C-PACE marketplace: design, implement, and administer. PFS offers services that support all three of these components.
Program design focuses on rapidly standing up the core functions that must be in place within the public sector to maximize participation among private sector in developing a robust pipeline of projects:
- Creation of market rules that are thoughtful and standard.
- Execution of administrative procedures to enforce market rules that are clear and low-cost.
- Facilitation of education and awareness among core stakeholder groups – including local governments, energy contractors, mortgage holders, lenders, and property owners.
PFS offers many services that support this approach:
- We work with states, counties, and municipalities to legally enable C-PACE transactions through legislation and local ordinances.
- We create a C-PACE administration model that is lean, low transaction cost and lender-friendly.
- We develop program design documents that may include:
- A uniform ordinance;
- A single set of Program Guidelines;
- A standard set of uniform C-PACE assessment documents;
- A standard administrative contract between the program sponsor and local governments;
- A standard administrative or servicing agreement between the program sponsor and capital providers with respect to general terms as well as specific projects.
- We work with county tax and finance officials to design basic procedures for funding, recordation, billing, and collections of PACE assessments.
Implementing a program design requires convincing state and local governments into a standardized program while simultaneously being flexible and cognizant of the specific needs of individual jurisdictions. The most successful C-PACE programs are those whereby all jurisdictions in a region follow the same set of best practices and leverage shared knowledge to build a cohesive marketplace.
PFS can work with you to implement a standardized program within your jurisdiction:
- We have experience developing relationships with government officials and can identify key local government contacts who will build and champion the program.
- We help identify stakeholders and influencers who will work with local government to enable C-PACE in their jurisdiction.
- We ensure that state and local legislation are harmonized and work together to enable a C-PACE marketplace.
- We help local governments implement C-PACE programs that cost nothing to taxpayers.
Program administration is the day-to-day management of a C-PACE program.
PFS is experienced in all aspects of program administration:
- We administer open-market C-PACE programs at no cost to C-PACE jurisdictions.
- We offer streamlined servicing of C-PACE transactions, collection of C-PACE obligations, and remittance of payments to capital providers.
- We provide quality assurance and ensure energy savings for PACE transactions in accordance with state and local laws through project approval and the education of contractor networks.
- We work with a broad range of contractors and capital providers to ensure maximum market penetration.
How it Works
Partnerships are formed
A state, county or municipality selects PFS to design its C-PACE program.
Laws are passed
The state passes enabling laws that allow local governments to offer PACE financing to building owners.
PFS handles all the details
At no cost to the county, PFS takes care of back-office details to help make PACE a success.