Property Assessed Clean Energy (PACE) Loss Reserve Program
Program Activity
Enrollment
After the PACE Loss Reserve Program’s launch, in June 2014 the California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) initially enrolled eight PACE programs with a total of 17,401 residential PACE financings valued at over $350 million. To date, 136,208 residential PACE financings valued at about $3.17 billion are covered by the PACE Loss Reserve.
Enrolled PACE programs must report to CAEATFA on the size and status of their portfolios in March for activity from July–December of the previous year, and in October for activity from January–December of the same year. Each eligible financing included in the semi-annual reports is enrolled in and covered by the loss reserve. PACE administrators that applied to the PACE Loss Reserve Program on or before June 9, 2014, were allowed to have their entire existing portfolios included under the reserve to maximize the Program’s effectiveness. To allow new PACE programs to enroll without delaying their operations, the loss reserve also covers financings originated up to 30 days before their enrollment date.
Estimated Environmental Savings
Enrolled PACE programs must provide estimated environmental savings resulting from PACE financings enrolled in the PACE Loss Reserve Program with each October semi-annual report, to the extent that information is available.
The table below details the estimated environmental savings from financings originated through June 30, 2020, as reported by enrolled PACE programs.
| Program Name | Estimated Environmental Savings from Enrolled Financings |
|---|---|
| mPOWER Placer |
23,598,985 kWh saved annually 4,365.8 MTCO2 saved annually |
| mPOWER Folsom |
556,453 kWh saved annually 102.9 MTCO2 saved annually |
| Berkeley FIRST | 54,408 kWh annually |
| Sonoma County Energy Independence Program |
23,800,060 kWh over lifetime 105,530 MTCO2 over lifetime 155,100 therms over lifetime |
| CaliforniaFIRST |
64,012,006 kWh generated annually 29,725,630 kWh saved annually 2,174,913 therms saved annually 72,012,157 gal saved annually |
| WRCOG HERO Program |
220,221,402 kWh saved annually 152,039,740 gal saved annually |
| SANBAG HERO Program |
132,505,173 kWh saved annually 81,867,045 gal saved annually |
| California HERO Program |
528,699,930 kWh saved annually 351,224,953 gal saved annually |
| AllianceNRG |
6,936,336 kWh generated annually 348,597 kWh saved annually 5,737 therms saved annually 727,985 gal saved annually |
| LA HERO Program |
199,278,146 kWh saved annually 214,897,177 gal saved annually |
| CaliforniaFIRST in Los Angeles County |
14,487,389 kWh generated annually 15,189,601 saved annually 1,106,986 therms saved annually 52,171,338 gal saved annually |
| Ygrene Works Program | 58.44 MW saved over lifetime 2,982,737,791 kWh saved over lifetime 1,000,682 MTCO2 saved over lifetime 3,459,700,684 gal saved over lifetime 34,417,428 ccf natural gas saved over lifetime |
| PACEFunding (CSCDA) |
17,501,624 kWh generated annually 1,864,303 kWh saved annually 100,317 therms saved annually 17,092,000 gal saved annually |
| California Municipal Finance Authority |
912,817,988 kWh generated over lifetime 819,371,251 kWh saved over lifetime 157,040 MTCO2 saved over lifetime 989,136 therms saved annually 1,041,617,827 gal saved over lifetime |
| Spruce PACE |
336,585 kWh generated annually 1,312 kWh saved annually |
| CSCDA HERO |
23,609,446 kWh saved annually 18,450,669 gal saved annually |
| Figtree PACE Program | 1,460,415 kWh saved annually |
| mPOWER Pioneer |
5,074,389 kWh saved annually 938.8 MTCO2 saved annually |
| WRCOG PACEFunding | 1,002,515 kWh generated annually 72,466 kWh saved annually 2,610 therms saved annually 1,053,000 gal saved annually |
| LA County - PACE Funding Group Program | 725,324 kWh generated annually 1,440,030 kWh saved annually 10,934 therms saved annually 3,783,019 gal saved annually |
| WRCOG Energy Efficiency & Water Conservation Program | 449,588 kWh generated annually 27,700 kWh saved annually 2,019 therms saved annually 240,088 gal saved annually |
| FortiFi CSCDA | 149,546,449 kWh generated over lifetime 129,387,559 kWh saved over lifetime 24,798 MTCO2 saved over lifetime 156,195 therms saved annually 145,252,841 gal saved over lifetime |