In 2010, when Fannie Mae and Freddie Mac were ordered by their regulator, the Federal Housing Finance Agency, to stop buying mortgages on properties that are subject to assessments financing energy efficient upgrades, most of the Property Assessed Clean Energy (PACE) programs then in existence were suspended.

Except in California, where Sonoma County’s program and others remain open and where, despite objections from the GSEs to the senior lien that this financing creates, new programs continue to be launched. In 2013 alone, 50 additional local governments in the state voted to offer residential PACE financing.

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