Montpelier Energy Team :Clean Energy Assessment Districts (CEAD)

Topic: PACE (aka CEAD) Talking Points for Montpelier

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This is a working document; here, we (the PACE team) propose, change or add common talking points, for use in our upcoming meetings with citizens and public officials. First draft posted here Jan 25., 2010.

PACE in Vermont

(We do need to be careful. PACE = Program for All-intensive Care for Elderly)

What it is

· Provides capital for home owners to invest in energy efficiency improvements

· The capital has low interest rates and payment schedule to ensure affordability

· The projects are designed by certified experts to assure economic return on investment

· The projects will save future energy costs by reducing the loss of heat from buildings and the reduction in the use of electricity

· The future energy cost savings will be the basis to repay the loans provided by the city

· PACE is a voluntary program. Only homeowners that request the loans will participate and those who do not participate will not be subject to any costs for repaying the loans

In the short term

Establishing a Clean Energy Assessment District is a multi step process. The first step needing voter approval will not require any municipal funding or risk. The approval will allow Montpelier to be ready to take advantage of the program when we iron out all of the details.

In the long term

PACE provides lower cost capital to carry out economically valuable upgrades to our buildings.

· Lower cost capital because we use municipal financing options (cheaper than homeowner financing)

· Economically valuable because the improvements are only eligible if they have been designed by certified experts in the field of home weatherization.

What it takes

· Citizen approval for Montpelier to offer the program

· Additional citizen approval for the bond funds that will serve as the capital for loans

· Administrative structures that Montpelier is developing in partnership with other Vermont communities

· Homeowners willing to invest in home energy improvements.

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