Property Assessed Clean Energy (PACE) Program Administrators

PACE Program Administrator Licensees

The following five organizations are licensed as program administrators under the California Financing Law:

  • Renovate America, Inc.
    California Financing Law License No. 60DBO-91914
    16409 West Bernardo Drive
    San Diego, California 92127
    DBAs and Programs: HERO; HERO Residential Program; HERO Program; California HERO Program; HERO Financing
  • Renew Financial Group LLC
    California Financing Law License No. 60DBO-90653
    1221 Broadway, 4th Floor
    Oakland, California 94612
    DBAs and Programs: CaliforniaFirst
  • PACE Funding Group, LLC
    California Financing Law License No. 60DBO-91769
    750 University Avenue, Suite 140
    Los Gatos, California 95032
    DBAs and Programs: PACEfunding
  • FortiFi Financial, Inc.
    (formerly Energy Efficient Equity, Inc.)
    California Financing Law License No. 60DBO-91941
    11111 Santa Monica Boulevard, Suite 950
    Los Angeles, California 90025
    DBAs and Programs: E3; Energy Efficient Equity
  • Ygrene Energy Fund California LLC
    California Financing Law License No. 60DBO-91942
    2100 South McDowell Boulevard
    Petaluma, California 94954
    DBAs and Programs: Ygrene; Ygrene Energy Fund; Ygrene Energy Fund California; YgreneWorks; Ygreneworks; Ygrene Fund California

Search for Enrolled PACE Solicitors or Enrolled PACE Solicitor Agents

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  • Enrolled PACE Solicitors Search

    A PACE solicitor is an organization authorized by a program administrator to solicit a property owner to enter into a PACE financing agreement for efficiency improvements on the owner’s property. Typically, a PACE solicitor is a contractor licensed by the Contractors’ State License Board.

  • Enrolled PACE Solicitor Agents Search

    A PACE solicitor agent is an individual employed or retained by, or acting on behalf of, a PACE solicitor to solicit a property owner to enter into a PACE financing agreement for efficiency improvements on the owner’s property. Typically, a PACE solicitor agent is a home improvement salesperson registered with the Contractors’ State License Board.


Regulations

Proposed Regulations

PRO 02/17 – NMLS Transition for California Financing Law Applicants and Licensees, and Requirements for PACE Program Administrators
Modifications to Proposed Text
Comment Period Ends: June 12, 2020

Initial Proposed Text
Comment Period Ends: December 9, 2019

Invitation for Comments

4/19/18 – PRO 02/17 – Property Assessed Clean Energy (PACE) Program Administrators Comment Period Ends: June 8, 2018.

12/30/17 – PRO 02/17 – Property Assessed Clean Energy (PACE) Program Administrators Comment Period Ends: January 5, 2018.

Stakeholder Meeting

  • On December 1, the DBO held a workshop with interested persons to gather information on needed regulations for the effective oversight of PACE program administrators (Govt. Code, § 11346, subdivision (b)). The DBO is in the process of drafting regulations to implement the new law and seeks comments from interested parties prior to initiating a formal rulemaking action with the Office of Administrative Law.

Summary of Operative Dates

The Summary of Operative Dates is not an exhaustive list, but is intended to provide a general overview for compliance. A program administrator should review the law to ensure compliance with the specific requirements on the dates they become operative. A PACE program administrator must comply with the law upon its operative date. The Department will review a program administrator’s compliance with the law as of its operative date during the licensing process, during regulatory examinations, and as part of investigations and enforcement actions, where applicable.

Background

On October 4, 2017, Governor Brown signed AB 1284 (Chapter 475, Statutes of 2017). The bill renames the California Finance Lenders Law the California Financing Law. This change became effective upon signing, and sets forth a licensing scheme for Property Assessed Clean Energy (PACE) program administrators. A “program administrator” is a person administering a PACE program on behalf of a public agency. (Fin. Code, § 22018.) A PACE program provides financing for the installation of energy-efficiency improvements on real property with funding repaid through property tax assessments, as authorized by specified laws. (Fin. Code, § 22016.)

How to reach us:

Department of Business Oversight
Financial Services / California Financing Law
320 W. 4th Street, Suite 750
Los Angeles, CA 90013

Phone: (213) 576-7690
Fax: (213) 576-7574
Email: PaceHelp@dbo.ca.gov

Note:

Applications for a PACE Program Administrator License are available through the Nationwide Multistate Licensing System and Registry (NMLS).

Since January 1, 2019, the Department of Business Oversight licenses Property Assessed Clean Energy (PACE) program administrators and regulate the PACE industry.

Last updated: May 27, 2020 @ 9:44 am