Property Assessed Clean Energy (PACE) Program Administrators

PACE Program Administrator Licensees

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

• Renew Financial Group LLC
  California Financing Law License No. 60DBO-90653
  555 12th Street, Suite 1650
  Oakland, California 94607
  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, Home Run Financing
• 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

• 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

Final Regulations

Proposed Regulations

• None at this time.

Historical Rulemaking Documents

Stakeholder Meeting

• On December 1, the DFPI 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 DFPI 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.
  • DFPI PACE Meeting Dec. 1 – Transcript (PDF)

Summary of Operative Dates

• Summary of the Operative Dates and Provisions of AB 1284 (Chapter 475, Statutes of 2017) and SB 242 (Chapter 484, Statutes of 2017).

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.

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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:

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 Financial Protection and Innovation licenses Property Assessed Clean Energy (PACE) program administrators and regulate the PACE industry.