Although government, environmentalists and fiscal hawks rarely agree on environmental issues, a new public-private partnership to finance U.S. energy efficiency retrofits (the “Retrofit Program”) is attracting broad public support. The Retrofit Program is being funded by a private consortium known as PACE Commercial Consortium (“PCC”) without any government loans, subsidies, tax credits or other governmental assistance, other than legislative support from state and local government. Because the Retrofit Program combines market-based solutions with traditional property-secured municipal finance, PCC believes the Retrofit Program will pave the way for other profitable, long-term clean energy solutions.
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