SB 77 – SUPPORT Page 1 of 2    

March 22, 2010

SB 77 – SUPPORT Dear Members of the California Legislature, The undersigned organizations and companies are writing in support of SB 77 – Property Assessed Clean Energy (PACE) financing. This bill will lower the costs of financing voluntary energy efficiency and renewable energy improvements for California homes and businesses that participate in Property Assessed Clean Energy (PACE) financings. The program authorized by this bill will create new jobs, increase state revenue, increase our ability to get federal dollars into California, reduce pollution, and provide money to local businesses and economies. It will enable new PACE programs in local governments and qualified entities that choose to participate to get more favorable financing rates and make these loans more attractive to participating residential and commercial building owners. PACE loans would be implemented through private bonds repaid by assessments selected by the private property owners, which is further secured by a lien on the property. This bill can catalyze up to $1B in total new projects which in turn may be eligible for up to $300M in Federal tax benefits by the building owners. This bill will generate 10,500 direct jobs and an additional 10,000 indirect and induced jobs. State revenues from sales tax and income taxes are estimated to be $68 million. In addition, significant energy savings are expected beyond what would happen without PACE financing. We urge your support for SB 77. Bob Epstein Co-Founder E2

Vince Siciliano, CEO Peter Liu, Vice Chairman    

 

Sheeraz Haji President

Francisco DeVries President

Adam Browning Executive Director

Jeffrey Mistarz Chief Financial Officer

Bob Williams Managing Director

Hubert Chang President and CEO

Steven Schiller, Board Chair Audrey Chang, Executive Director

Clay Nesler, Vice President Anna Pavlova, Director

Matt Golden President

Scott Sun, VP Kristina Peterson, VP

SB 77 – SUPPORT Page 2 of 2    

Tom McCalmont, CEO McCalmont Engineering

Jack D. Bolick. CEO Adura Technologies

Jim Kelsey Principal

Ron Sundergill Senior Regional Director

Bob Knight Program Director

Jared Asch, LEED AP National Director

Irene M. Stillings Executive Director

Ted Flanigan President

Tom Lockard Managing Director

Lara Ettenson Victoria Rome Director, Energy Efficiency

Dan Kalb California Policy Manager

Derek Walker Director, California Climate