案例库 · 财务与会计 · 财务决策 · 2008–2009
这条还没译成中文，下面是英文原文。
Berkeley's PACE pilot financed solar on the property tax bill, not the borrower.
Berkeley financed solar through a property-tax assessment repaid over 20 years, the first PACE program in the US.
City of Berkeley
那一手
The barrier to rooftop solar was not the panels but the up-front cost, and a conventional home loan did not fit a solar project, so the City of Berkeley tried a new financing shape.
In September 2008 it launched BerkeleyFIRST: the city raised about $1.5m in bonds and loaned the money to homeowners, who repaid through a special assessment on their property over 20 years. The obligation stays with the property, so it survives a sale.
The pilot financed 13 solar installations. All 40 slots filled within minutes, most participants said the program was why they went solar, and the model spread to 17 states as PACE.
为什么管用
- Financing through the property tax bill lets the term stretch to 20 years, cutting the annual cost
- Basing eligibility on property value rather than credit opens it to owners who could not get a personal loan
- Because the debt follows the building, a seller is not left holding a loan after moving
可以搬走什么
Repay a long-lived asset and you unlock long cheap loans: when the collateral is the property, not the borrower, the horizon stretches.
后来呢
Berkeley's pilot ended and the city joined a county-wide program, but BerkeleyFIRST became the national template. PACE spread to many states, then ran into controversy over the seniority of the tax lien and consumer protections, and it was restricted or paused in some states even as commercial PACE kept growing.
资料来源
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