Property Assessed Clean Energy (PACE) Financing and Consumer Financial Outcomes
This report documents research findings on PACE financing from 2014 through 2020. This is in support of the PACE rulemaking mandated by EGRRCPA. We find that for consumers whose PACE loans are originated, mortgage delinquency rates increase by 2.5 percentage points over a two-year period following PACE origination, compared to those whose applications were only approved. These effects are larger for consumers with lower credit scores and with more expensive loans.