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Fannie and Freddie to clean-energy program: Drop dead

Grist has been following this negative development. Here’s a taste of Grist’s post on this development:

“On Tuesday, Fannie Mae and Freddie Mac ended their radio silence nine weeks after sending cryptic letters warning lenders against permitting the use of Property Assessed Clean Energy (PACE) — but it wasn’t the follow-up PACE advocates were hoping for.

FHFA’s letter amounts to a middle finger to PACE, which has drawn excitement from clean-energy advocates, home-improvement contractors, and homeowners who want to use the system to pay for projects like rooftop solar arrays and retrofits that cut energy waste.

The agency is arguing that reducing greenhouse-gas emissions, saving homeowners money on utility bills, and creating local jobs working on homes are not “traditional community benefits.” It’s making another argument too: That it should get to decide what projects have local-community benefits.”

Read Grist’s full post here

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