Advocates of a new program in Florida to finance energy-efficiency and storm-hardening improvements have set up a new company to certify contractors and financial providers and thus boost participation in the program.
The new company, Clean PACE Inc., is a venture of the nonprofit Florida Association for Insurance Reform (FAIR), Fort Lauderdale's Sun-Sentinel reports. PACE stands for the Property Assessed Clean Energy program, which enables financing for home improvements to be repaid "through assessments against the properties themselves in the same manner as school taxes or community improvement bonds that can be transferred to new owners or paid off as a condition of a home's sale," the newspaper wrote. It added:
Residential improvements eligible for PACE financing include new roofs, awnings, solar panels, air conditioning units and ducts, insulation, LED lighting, hurricane-resistant impact windows, reinforcement of existing roofs, water barriers for protection against floods, low-flow plumbing systems to conserve water, rainwater catchment systems and even artificial turf.
FAIR's members include insurers, real estate agents, trial attorneys, construction companies and consumer groups.