Wyoming PACE Financing Program

June 17, 2024

Summary

Note: In 2010, the Federal Housing Finance Agency (FHFA), which has authority over mortgage underwriters Fannie Mae and Freddie Mac, directed these enterprises against purchasing mortgages of homes with a PACE lien due to its senior status above a mortgage. Most residential PACE activity subsided following this directive; however, some residential PACE programs are now operating with loan loss reserve funds, appropriate disclosures, or other protections meant to address FHFA's concerns. Commercial PACE programs were not directly affected by FHFA’s actions, as Fannie Mae and Freddie Mac do not underwrite commercial mortgages. Visit PACENation for more information about PACE financing and a comprehensive list of all PACE programs across the country.

Property Assessed Clean Energy (PACE) financing effectively allows property owners to cover the full upfront costs of energy improvements. The financing is repaid via a special assessment on the property over a period of years. Wyoming has authorized local governments to establish such programs, as described below.

Wyoming enacted legislation in July 2011 (H.B. 0179) authorizing local governments to establish a loan program to provide financing for cost-effective energy improvements to existing residential, commercial and industrial properties. Governments that opt in to the establishment of energy improvement programs must provide an explanation of proposed programs to utilities distributing energy or natural gas to the area no later than 30 days prior to implementing said program. Eligible energy improvement programs are described as energy efficiency or renewable energy improvements within a program adopted by a municipality, county, or multi-county joint board.

Local governments are authorized to secure loans under energy improvement programs through liens in the same manner as provided for special assessments (W.S. 15-6-401 et se.) or through other securities deemed necessary. Additional securities may include the requirement of energy audits, loan terms, application and loan fees, and conditions to ensure timely repayment of loans and fees.

Though Wyoming has passed this enabling legislation, there are currently no active PACE programs in the state.

Program Overview

Implementing Sector:	State
Category:	Financial Incentive
State:	Wyoming
Incentive Type:	PACE Financing
Web Site:
Administrator:	Program administered locally
Start Date:
Eligible Renewable/Other Technologies:	Other EE Yes; specific technologies not identified Other Distributed Generation Technologies
Terms:	Local governing body must provide an explanation of any proposed program to utility distributing energy or natural gas to the area no later than 30 days prior to implementing said program.

Authorities

Name:	W.S. 15-1-701 - 15-1-702
Effective Date:	7/1/2011

This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.