May 24, 2022

Summit County home energy improvement program ‘stalled’

3 min read

A program meant to help Summit County residents get financing for energy efficiency improvements to their homes is “stalled” and unlikely to move forward.

The Property Assessed Clean Energy (PACE) residential financing program was announced in June 2019 and expected to launch in March 2020.

California-based private lender Renovate America was the lending partner working with the Development Finance Authority of Summit County to finance the program.

Renovate America filed for bankruptcy protection after tighter regulations and lawsuits chased it out of the business of assessments for energy improvement financing, The Wall Street Journal reported in December 2020.

Bloomberg reported last April that Renovate America was facing more than 50 lawsuits when it declared bankruptcy, including a class action brought by homeowners in Los Angeles County, which ended its PACE program in May 2020, citing “increasing criticism and concern” over consumer protections.


https://www.beaconjournal.com/story/news/local/2022/01/17/summit-county-residential-pace-property-assessed-clean-energy-efficiency-home-repairs-help-ohio/9172795002/