PACE Loans

Bali Kumar, COO of PACE Loan Group, tells us about his history with management consulting, law and mission-driven work that led him to PACE financing and the work he does today.

This innovative financing tool has made big waves in Minnesota’s clean energy marketplace, particularly in recent months due to a policy fix that CEEM advocated for in the last legislative session.

The American Council for an Energy Efficient Economy notes that upfront costs are a major barrier to pursuing energy efficiency projects, while solar PV installations and other renewable energy projects can face similar challenges.

Last session, the Minnesota Legislature temporarily discontinued Minnesota’s Residential Property Assessed Clean Energy (R-PACE) program in order to proactively address consumer protection concerns that arose out of incidents that happened in other states, including predatory lending practices that led to foreclosures on vulnerable homeowners.