Sonoma Property Assessed Clean Energy (PACE) Financing Marketplace CA Assembly Local Government Commi4ee and Assembly Banking and Finance Commi4ee Joint Hearing June 9, 2016 Caroline Judy, Director of General Services Liz Yager, Energy and Sustainability Program Manager Jane Elias, Sonoma County Energy Independence Program Manager County of Sonoma
Why PACE in Sonoma? 3% 0.3% 1% Building Energy 8% 2% Stationary Sources 31% On-Road Transportation Off-Road Transportation Solid Waste Wastewater Treatment 53% 2% Water Conveyance Agriculture 2
Sonoma County Energy Independence Program SCEIP by the Numbers March 2009 – April 2016 34,234 PACE financing inquiries $74 M Amount funded $21.8 M Funding available 3,170 ApplicaOons received 2,304 ApplicaOons funded 0.34% Tax delinquency rate 0.00% Default rate Total of 62,712 MTCO 2 E Reduced Over SCEIP History 1,480 Jobs created (ACEEE formula) 157 ParOcipaOng contractors >88% Jobs done by local contractors 3
Sonoma County Energy Independence Program 89% of All Projects are Completed by Local Contractors 2% 2% 2% 1% Solar PV Solar Thermal HVAC 20% Cool Roof 40% Water Heater Sealing & Insulation Windows & Doors Lighting 12% Ventilation Water Cons. Other Energy Efficiency 6% 10% 3% 2% GeneraTon: Energy Efficiency: Water ConservaTon: 40% 58% 2% 4
Benefits of the Marketplace • Expand availability of project financing • Consumers choose PACE provider • Create local jobs • Contractor support and resources • County provided tools for the consumer • Standardized data tracking and validated results 5
CollaboraOve Model and Consumer Support County Consumer Support Provided Marketplace Starts with contact: Learn about Create a Secure financing Assessment Outreach a contractor, the upgrade opOons project plan and rebates office, the internet and benefits ACTTC SCEIP SCEIP Outreach Asmt PACE A PACE A Outreach Asmt . PACE B PACE B Outreach Asmt PACE C PACE C Outreach Asmt 6
Marketplace Click and Compare Tool *All providers calculaOons reflect no prepayment penalty SONOMACOUNTYENERGY.ORG/financingmarketplace 7
Marketplace UOlizaOon SCEIP # projects CA 1st # projects HERO # projects 18 9 4 33 6 22 21 5 63 56 56 4 45 45 40 39 37 36 36 34 29 28 27 26 26 25 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 CY'12 CY'12 CY'12 CY'12 CY'13 CY'13 CY'13 CY'13 CY'14 CY'14 CY'14 CY'14 CY'15 CY'15 CY'15 CY'15 CY'16 8
Sonoma PACE Timeline: SCEIP July 2008 The July, 2010 October, 2010 California State Federal Housing California Energy Governor signed Financing Authority Commission Awards Assembly Bill 811 Lejer ObjecOng $5M in Grant Funding LegislaOon for to Lien Status Property Assessed Clean Energy (PACE) 2008 2009 2010 2011 2012 2013 March 2009 July, 2010 April 2012 County Board of Supervisors County Board of Grant and launched operaOon of the Supervisors reopens Loading Sonoma County Energy SCEIP, files suit Order Independence Program against FHFA Requirement End 9
Sonoma PACE Timeline: SCEIP + June 2013 October 2014 Others PACE Financing Agreement for Santa Clara Marketplace CollaboraOve County of Sonoma Marin LA San Joaquin Request For Services Marketplace 2.0 InformaOon ABAG Contra Costa SolicitaOon SolicitaOon Dec 2015 Local Oversight Pilot WRCOG and CSCDA adopt Consumer ProtecOon Policies 2013 2014 2015 2016 2017+ County of Sonoma adopt consumer May 2016 October 2014 protecOon polices GSFA – Ygrene March 2015 Marketplace opens with for SCEIP Works joins the CEDA - Figtree addiOon of WRCOG - HERO Marketplace Program joins and CSCDA – CA FIRST to the Marketplace County Program - SCEIP May 2016 Request to JPAs regarding program oversight and enforcement protocols 10
Sonoma Marketplace Agreements Agreement for CollaboraOve Renew Financial Services Figtree Finance County of Renovate America Sonoma PACE Ygrene Energy (SCPFA) Implementer CSCDA CEDA Joint Powers WRCOG Authority GSFA County Board of City / Town Supervisors Councils ResoluOons Authorizing ResoluOons Authorizing ParOcipaOon ParOcipaOon JPA Membership JPA Membership SCPFA: Sonoma County Public Financing Authority CSCDA: California Statewide CommuniOes Development Authority Required Required CEDA: California Enterprise Development Authority WRCOG: Western Riverside Council of Governments GSFA: Golden State Finance Authority 11
PACE Consumer ProtecOon Pilot May 2016 - The Sonoma County Board of Supervisors directed staff to develop mechanisms and forums for monitoring and improving ongoing marketplace performance. The pilot will be implemented collaboraOvely with PACE providers including both Marketplace and non-Marketplace members. 1. Pilot local PACE Marketplace oversight mechanisms. 2. ConOnue to parOcipate in statewide efforts to develop PACE financing consumer protecOon policies. 3. Develop a new Sonoma County Marketplace 2.0 solicitaOon based upon best pracOces and will include addiOonal consumer protecOon and monitoring principles. 12
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