paceenabledworld.pacenation.orgA PACE Enabled World

A PACE Enabled World Understanding Increased Risk Need For Private Capital Scaling For The Future Disaster Risk Map Interactive Impact Map Interactive PACENation Download Report A PACE Enabled World The climate is changing, leading to more extreme weather events— communities around the world are paying the price. Explore the environmental risks facing communities and learn how PACE financing can help by building a more resilient, prosperous, and sustainable future. The Price of a Changing Climate It is clear that our climate is changing. Increasingly, extreme weather events are having a serious and sometimes devastating impact on homes, businesses, and communities around the world. Here in the United States, individuals and communities struggle with the increasing frequency and severity of hurricanes, floods, wildfires, and extreme heat and cold. These weather events lead to increased energy and utility costs, higher insurance premiums, and billions of dollars of storm-related repairs, the costs of which are borne by individual property owners and taxpayers. Despite a recent groundswell of political support for environmentally conscious initiatives and investments, affordable financing for energy and resilience upgrades remains unobtainable for many property owners. Understanding the Context of Increased Risk The Price of a Changing Climate The total cost of extreme weather events could reach over $4 trillion by 2050 With record numbers of wildfires, wind storms, hurricanes, floods, tornadoes, and other disasters exacerbated by climate change, there is no question that the country is struggling to help property owners protect themselves and get them back on their feet after devastation. Environmental-related disasters have cost Americans over $1 trillion since 1980 Since 1980, environmental-related disasters have cost Americans over $1 trillion, according to NOAA research. This increased risk directly impacts the insurance industry. As a result, the average home insurance rate has risen by 50 percent over the past 10 years alone. Hover a storm for more information 1980s Total Cost $163B 2.7 storms/year $6.04B/storm 1990s Total Cost $260B 5.1 storms/year $5.10B/storm 2000s Total Cost $489B 5.6 storms/year $8.73B/storm 2010s Total Cost $644B 10.3 storms/year $6.92B/storm 2030s Total Cost $1,642B 26.8 storms/year $8.63B/storm 2050s Total Cost $4,188B 69.6 storms/year $10.75B/storm Need For Private Capital: PACE Financing is Part of the Solution Property Assessed Clean Energy (PACE) Property Assessed Clean Energy (PACE) is an innovative financing solution that makes clean energy and resilience upgrades more affordable and accessible for property owners. PACE property improvement projects: Increase energy efficiency and reduce monthly utility bills Help protect homes and businesses from natural disasters Create local jobs and drive economic growth in local communities Contribute to shared environmental, social and governance (ESG) goals that are increasingly important to policymakers and investors Understanding PACE Investment PACE, which leverages a time-tested municipal financing mechanism, is an innovative public-private partnership that expands access to financing for building upgrades related to energy and water efficiency, renewable energy and storage, and natural disaster mitigation. Understanding PACE Investment Established by states via legislation and enabled by local government approval, PACE financing increases access to affordable financing and enables property owners to improve the health and safety of their homes and businesses. PACE fosters sustainability and strengthens communities in ways not possible through traditional financing options. Since its inception, PACE has: Financed $9+ billion in property improvements Completed 300,000+ projects Benefited thousands of communities across the United States Explore the environmental, economic, and societal benefits derived from PACE investments to date and imagine what a truly PACE enabled world would look like. +$19B in economic output +152K new jobs created Scaling for the Future Nearly 4 out of 5 Americans face risk of disaster As successful a public policy as it has been, PACE is just scratching the surface on the pathway to a decarbonized and resilient economy, built on healthier and safer communities across the country. Research shows that extreme weather events have become more frequent and destructive over time. As such, there is an indisputable need for resilience improvements across the United States. According to the Environment America Research and Policy Center, between 2007 and 2012, nearly 4 out of 5 Americans lived in a county that was affected by weather-related disasters, representing approximately 243 million Americans. Extreme weather has become more frequent and destructive While many believe extreme weather events are isolated to at-risk states like Florida, California, Texas, and New York, the reality is that no state is safe. But within this context of increased risk, PACE financing is well-positioned to provide needed relief. Extreme weather occurs throughout the country. Explore this risk on a state-by-state basis, and see how a PACE-enabled world can transform risk into opportunity. A PACE-enabled future is a world with more jobs, a stronger economy, and decreased environmental impact from fossil fuels. PACE is Working: The Environmental and Economic Impacts PACE financing could generate significant environmental and economic impacts for communities if enabled nationwide. Explore the tremendous potential environmental and economic impacts across the Nation, and see how a PACE-enabled world can transform risk into opportunity. A PACE enabled world is possible. With an increasing number of extreme weather events that lead to significant costs for local, state, and federal governments, as well as the citizens they serve, Americans must take on the challenge of making their homes and businesses safer and more resilient in the face of disaster. icon-download Download PACE Enabled World Report Join PACENation...