The University of Southern California’s Sol Price School of Public Policy performed a regional economic impact analysis of Property Assessed Clean Energy (PACE) financing using the REMI PI+ model. Ygrene Energy Fund, Inc. had provided over $1.16 billion to finance more than 54,500 property improvement projects at the time of this report, with the majority of their projects being developed in California and Florida. The study’s researchers used the REMI model to evaluate the net impact in terms of gross output, gross domestic product, personal income, and employment of these financing projects on the two states’ economies. The aggregate stimulus effects from the expenditure of the PACE financing were found to generate an average annual increase in gross state product of $134.7 million and employment of 1,305 full-time equivalent jobs in California. Florida also enjoyed an average annual increase in gross state product of $51 million and employment of 603 jobs during the same study period.
