Representative Robert A. DeLeo
Speaker of the Massachusetts House of Representatives
State House, Room 356
Boston, MA 02133
Dear Speaker DeLeo,
On behalf of the US Green Building Council, Massachusetts Chapter, representing over 5000 LEED Accredited Professionals and associated green building proponents, I write today in support of S. 2255 (formerly S. 177), An Act fueling job creation through energy efficiency – and for its passage on the House side. Filed by Senator Brian A. Joyce, this bill will create jobs, increase property values, encourage private investment, and reinforce Massachusetts’ role as a leader in energy efficiency and disaster resilience. I urge the House to pass this important measure which was passed in the Senate last week.
PACE financing provides property owners access to low-cost, off-balance sheet capital, by way of betterment lien placed on the property and payable like a property tax bill. Across the nation, successful PACE programs have provided a new and innovative way for property owners to finance energy efficiency upgrades, renewable energy projects, and water conservation measures. The Massachusetts legislation also will allow property owners to upgrade buildings with resiliency improvements, to reduce or eliminate damage caused by extreme weather events, similar to the Florida PACE program. The availability of this new tool for project finance will result in new projects which will mean more work for people in the renewable energy & allied industries of Massachusetts.
S. 2255 will make necessary improvements to the Commonwealth’s current PACE program, creating a streamlined, centrally administered PACE program that is capable of achieving economies of scale and will be easily adopted by municipalities. The new program will require lender consent and will focus on the pent up demand for energy efficiency and disaster-resilience financing in the commercial and industrial sector.
Passage of S. 2255 will fuel job creation and spur private investment, cementing Massachusetts' role as a leader in energy efficiency and resilience. As green building professionals, we look forward to the enactment of this legislation as it supports our mission.
Thank you for your time and consideration,
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