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PACE program to have clear processes both internally and externally to handle these steps properly and efficiently.

11.1 Making Approval as Simple and Objective as Possible

A recommended practice for any PACE program is to make the application approval process as objective as possible by reducing the decision to a simple and consistent set of go/no-go decisions based on clear, defensible criteria. For example, the two key stages of application processing might include the following go/no-go criteria:

At point of application submission (step 4):

  • Is the application filled out completely and signed by all legal owners?

  • Has written lender consent been obtained?

  • Has the applicant/property met all program eligibility criteria?

  • Does a property title search confirm legal owners and eligibility?

  • Are all measures in the project eligible for financing?

  • Does project review verify that the total project will save energy?

  • If the applicant is participating in a utility rebate/incentive program, has the associated paperwork

been submitted?

  • Does the project meet the Savings-to-Investment Ratio (SIR) target?

  • Are the chosen contractors eligible to participate in the program?

At point of request for progress/final payment (step 7):

  • Has a lien been placed on the property to secure the financing?

  • Is there proof that the project has been completed or that a milestone has been reached?

  • Has the applicant signed and submitted the payment request form that states a milestone has been

reached and the owners are satisfied with the work?

  • If the applicant wants payment to go directly to the contractor, has the applicant signed a payment

assignment document?

    • Have appropriate permits been submitted?

    • Have contractor invoices showing progress been submitted?

    • Is an independent onsite inspection necessary, and if so, does it verify claimed progress?

      • 11.2

        Project Review

Clean energy projects applying for financing are likely to be significantly different, largely due to the mix of property sizes and types in a commercial program. This means that PACE program administrators or their consultants will need to be well-versed in reviewing a wide range of project sizes and combinations of efficiency measures within them in order to verify the legitimacy and energy-saving potential of the projects that seek funding.


Chapter 13


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