If you attended our December 15 webinar on “The Future of PACE in New Jersey,” at which we announced the creation of a Coalition for PACE in NJ, to advocate for legislation to enable a robust and trusted PACE industry in New Jersey — thank you.
(If you missed it, you can watch the video here.)
We now inviting you to join the Coalition.
We want you to know that we welcome your membership whether or not you agree with the specific strategy we have put forward — we want to address everyone’s concerns, and propose the best outcome for New Jersey.
We’ve heard, for example, that some organizations would suggest that we put forward a bill enabling Commercial PACE only. Others have objected to the proposed inclusion of lender consent provisions.
At some point, however, compromises must be made, and we understand that some organizations may be unhappy. But we think the greater good is having a program signed into law that will begin to assist property owners in conserving energy, switching to renewables, and making their buildings more resilient.
If you are interested in supporting this outcome, we’re asking you to join the Coalition. Our aim is to facilitate a dialog among all parties, and achieve a result that everyone can align with, even if we don’t agree on every detail.
We’re looking for members representing the broad range of stakeholders who will benefit the most from a favorable PACE environment in New Jersey, including the following:
- PACE program administrators
- property owners
- energy services contractors
- local governments
- project developers and originators
- financial institutions
- architects, engineers and construction companies
- industry and professional associations
- real estate developers
- equipment manufacturers
- community organizations
- schools, hospitals, and universities
- public and private foundations focused on clean energy and resiliency
— amongst others (not to mention, as well, the general public).
By investing in energy conservation, renewables, and resiliency in our communities, we:
- support the growth of NJ’s nascent green economy
- create good, well-paying local jobs
- reduce carbon pollution, and
- build stronger neighborhoods.
If you’d also be willing to support the development of the Coalition financially, please contact Victoria at 908-507-3150.
We plan to set up a conference call in January for those interested in participating actively in the work of the Coalition, which is more than just seeking a better bill. Once we have a workable program, we believe the Coalition will morph into an industry alliance that will continue to advocate for improvements and effective implementation, including the standardization of local programs across New Jersey.
Here are some of the key reasons why NJPACE and others think NJ is worth the effort:
- NJ already has PACE legislation, signed into law by the current Governor, so in principle he has favored it in the past, although he eliminated any state funding or program administration. The Conditional Veto also states that he supports the aims and objectives of the program, but is concerned with the details of its implementation.
- As the most densely populated state in the country, with one of the highest energy costs (and with its nuclear plants, which currently provide about half of NJ’s electricity nearing the end of their useful life), high environmental standards, and a history of technological innovation, coupled with high levels of ground, water, and atmospheric pollution, NJ is positioned to be a leader in the US clean energy industry if a viable PACE industry can be established.
- As one of the aging Northeastern states, NJ has a long history of declining industry, abandoned factories, warehouses, and empty office parks that need revitalization, including clean energy and resiliency improvements.
- In the past, New Jersey has been number two behind California in solar and energy conservation. Since the election of Governor Christie, the state has slipped into a lower place in these rankings, but still has a strong Renewable Portfolio Standard, extensive clean energy incentives, and a commitment from this Administration to grow its renewable energy and conservation industry. There is a large backlog of clean energy projects that are stalled for lack of suitable financing.
- NJ was especially hard hit by Superstorm Sandy, Hurricane Irene, and previous storms, and has resiliency needs that are still unmet three years after Sandy. NJ’s PACE legislative amendment includes storm/water improvements, and these needs are expected to grow rapidly in the future.
Here’s what we’re proposing:
- Our strategy is to form a broad stakeholder coalition to educate, persuade and/or accommodate the Governor’s office, relevant state agencies, and the banking industry. We feel this coalition can accomplish what we, and other industry players acting individually, have not been able to achieve to date.
- We at NJPACE are ready to coordinate the effort to put forward a new bill for the next legislative session (beginning January 12), on behalf of the industry. However, NJPACE needs support, which can be discussed and detailed before or during the conference call of major players that we hope to pull together in early January.
- NJPACE, being local, is in a better position to understand the political dynamics than representatives parachuted in or hired locally to represent outside interests. At the same time, we believe that the major industry players must be on board, and must use their success in other states to get the Governor’s Office and the banking community to be willing to negotiate an acceptable compromise.
- We believe we’ve demonstrated the capacity to get legislators, municipalities, and other stakeholders to back PACE. We intend to reach out to all of our own contacts, including originators and capital providers, local government, energy services, contractors, engineers, lawyers and other professional firms, property management and real estate associations, respected academics in the field, advocacy organizations and other opinion leaders. We believe a substantial number will be willing to join a coalition effort.
- In mid December NJPACE presented a webinar on the status and future of PACE in NJ. With almost no promotion, 150 people registered and 140 attended the webinar, including the attorney assigned to the legislation in the Governor’s office
- We have now created a separate website, NJCoalition4PACE.net, where we’ve posted a recording of the webinar. We expect to send a newsletter in January to request financial and other support from our 4500-strong network. If we can tell them that you and other players in the PACE industry are on board, this will make our task a great deal easier.
So please join us and indicate your interest today. Thank you.