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Missouri

Missouri

Incentives/Policies for Renewables & Efficiency

Printable Version
Local Option - Clean Energy Development Boards   

Last DSIRE Review: 08/27/2014
Program Overview:
State: Missouri
Incentive Type: PACE Financing
Eligible Efficiency Technologies: Equipment Insulation, Lighting, Furnaces , Boilers, Heat pumps, Central Air conditioners, Heat recovery, Energy Mgmt. Systems/Building Controls, Caulking/Weather-stripping, Building Insulation, Windows, Doors, Comprehensive Measures/Whole Building, Custom/Others pending approval
Eligible Renewable/Other Technologies: Solar Water Heat, Solar Space Heat, Photovoltaics, Wind, Biomass, Geothermal Heat Pumps, Daylighting, Other Distributed Generation Technologies, Geothermal Direct-Use
Applicable Sectors: Commercial, Industrial, Residential, Nonprofit, Schools, Local Government, State Government, Multi-Family Residential, Agricultural, Institutional
Terms:Financing contracts limited to 20 years or less; improvements must display a positive economic benefit over the life of the contract.
Funding Source:Implementing entities authorized to issue bonds
Authority 1:
Date Enacted:
R.S. Mo. ยง 67.2800 et seq.
07/12/2010
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 PACENow for more information about PACE financing and a comprehensive list of all PACE programs across the country.

PACE Overview

Property-Assessed Clean Energy (PACE) financing effectively allows property owners to borrow money to pay for energy improvements. The amount borrowed is typically repaid via a special assessment on the property over a period of years. Missouri has authorized certain local governments to establish such programs, as described below. (Not all local jurisdictions in Missouri offer PACE financing. Contact your local government to find out if it has established a PACE financing program.)

Missouri Legislation

In July 2010 the Missouri legislature enacted the Property Assessed Clean Energy Act. The act allows municipalities (county, city, or incorporated town or village) to create Clean Energy Development Boards, which in turn are permitted to develop local PACE programs to finance energy efficiency improvements or renewable energy improvements. A clean energy development board may be created by an individual municipality or by multiple municipalities working together.

In January 2011 the Missouri Clean Energy District was created and is the primary mechanism for PACE financing for most of Missouri’s participating communities and counties; however, the Set the PACE St. Louis program implements PACE in St. Louis.

Eligible Projects

Many details of PACE implementation are left to the discretion of local governments. Local governments may develop programs that support both energy efficiency and renewable energy improvements. Energy efficiency improvements include but are not limited to HVAC measures, building and equipment insulation, energy recovery systems, energy controls, caulking and weather-stripping, efficient lighting, daylighting, and certain windows and doors. Renewable energy improvements include but are not limited to solar photovoltaics (PV), solar thermal, wind, biomass, and geothermal energy systems.

Improvements must have a positive economic benefit over the term of the financing contract and contracts are limited to 20 years in length. Programs may offer PACE financing support for eligible improvements on any privately- or publicly-owned property. In order to participate in a program, property owners will enter into a special assessment contract with a clean energy development board where the property owner agrees to pay a special assessment in exchange for financing of a qualified improvement. The special assessment constitutes a lien on the property in question and will be collected in the same manner and with the same priority as ad valorem property taxes.

Administration

Clean energy development boards are invested with a variety of powers. As follows the general PACE model, the board is permitted to enter into assessment contracts with property owners and levy and collect special assessments under an assessment contract. A clean energy development board is also permitted to issue bonds or borrow money from any other private or public source. A board may also specify application and qualification criteria necessary to administer a program, including minimum energy efficiency standards, energy audits, and post-installation verification requirements.


 
Contact:
  General Information
Missouri Department of Natural Resources
Environmental Improvement and Energy Resources Authority
P.O. Box 744
425 Madison Street, 2nd Floor
Jefferson City, MO 65102
Phone: (573) 751-4919
E-Mail: eiera@dnr.mo.gov
Web Site: http://www.eiera.mo.gov
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.