WASHINGTON, DC – On Thursday Congressman Mike Thompson (D-CA) was joined by 29 other members of Congress in introducing legislation to protect clean energy initiatives that are important to homeowners in California and the rest of the country.

The PACE Assessment Protection Act of 2010 would order lenders to adopt standards that support Property Assessed Clean Energy (PACE) programs, rather than stymie green energy efforts.

“PACE programs are an important part of the push to create a green economy and reduce our reliance on foreign oil,” said Congressman Thompson. “They create jobs, and are an exciting way for homeowners to reduce their energy bills while also reducing greenhouse gas emissions. This is especially important in California, which has already taken significant steps to ensure that PACE programs are available to 70 percent of Californians by the end of 2010. And our district has been a national leader in getting these programs up and running – lending institutions should not interfere with these great green energy programs.”

“I join Congressman Thompson in introducing legislation that will allow Sonoma and other counties around the country to continue to allow homeowners to finance innovative energy-efficiency and renewable-energy projects in an affordable and responsible way,” said Congresswoman Lynn Woolsey (D-CA). “Projects like the Sonoma County Energy Independence Program can promote the development of local renewable energy projects that will decrease our consumption of fossil fuels, reduce our impact on the environment, and create good-paying green jobs in our communities.”

“Where enacted, the PACE program has proved to be a very successful resource for homeowners wanting to reduce their energy consumption. It has also created jobs, increased clean energy investments, and has the potential to further our goal of making the Sacramento region a leader in the clean energy economy,” said Congresswoman Doris Matsui (D-CA). “However, I am deeply concerned by the recent decision by the FHFA to effectively shut down the PACE program. That’s why I am pleased to join Rep. Thompson in introducing legislation that will allow PACE financing programs to continue while ensuring that both the taxpayer and private mortgage investments are protected. And we will continue to fight to ensure this program is restored.”

“My congressional district on Long Island is home to a successful home retrofit program and is set to expand PACE programs to several more communities. Now our programs are at risk of shutting down. PACE programs are helping homeowners save money on their energy bills, making energy efficiency affordable and helping expand our green technology economy. I’m proud to be working with Congressman Thompson to support PACE programs,” said Rep. Steve Israel (D-NY).

“Our PACE program is yielding real positive results for our community – hundreds of good paying local jobs, reduction in energy and water use and cost savings for consumers,” said Sonoma County Supervisor Valerie Brown. “Congressman Thompson’s legislation will protect these outstanding efforts and we thank him for his support of all of our efforts.”

PACE financing is an innovative means to create jobs, reduce energy bills and dramatically cut greenhouse gas emissions. It is estimated that capturing just 10 percent of potential greenhouse gas reductions through PACE could result in a 220 megaton cut in CO2 emissions annually. Even modest implementation of PACE programs could create 160,000 green jobs in the United States. And because PACE-financed energy efficiency measures would cut consumers’ utility bills, they would generate average homeowner savings of $5,000 to $14,000 over the lifetime of the benefits.

Fannie Mae and Freddie Mac have asserted that homeowners are in default of their mortgages if they finance energy improvements with PACE. The Pace Programs have the strong support of the Department of Energy and the White House, which issued its White House PACE Policy Framework on October 18, 2009.

California PACE programs are currently operational in the City and County of San Francisco, Sonoma County, Placer County, Palm Desert and Yucaipa. Programs are set to launch in 2010 in the following jurisdictions: Los Angeles County, San Diego City, Alameda County, Fresno County, Kern County, Monterey County, Sacramento County, San Diego County, San Benito County, San Luis Obispo County, San Mateo County, Santa Barbara County, Santa Clara County, Santa Cruz County, Solano County, Ventura County.