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Property Assessed Clean Energy (PACE)
Start date: Sep 1, 2013, End date: Aug 31, 2015 PROJECT  FINISHED 

The aim of this research is to contribute to sustainable development, by proposing a candidate policy for promoting renewable and energy efficiency deployment, mainly in households, and comparing its merits with existing alternatives. Accelerating clean energy adoption will not only contribute to sustainable development, by reducing Greenhouse Gas (GHG) emissions, but also to addressing energy poverty, by helping households to improve the energy efficiency of their homes and reduce their heating and electricity costs.The idea is to catalyse private capital to cover upfront energy investment costs and then recoup payments through increased property taxes. In particular this project will help:1. establish environmental policy priorities based on sound research and policy analysis,2. diagnose key market constraints to delivering energy efficiency improvements and renewable adoption, and3. propose structural economic reform priorities to overcome these barriers.There are several reasons to carry out further analysis in this field:- this will help gain a better understanding of the risks and barriers associated with clean energy financial structures as well as building regulatory frameworks which encourage clean technologies adaption;- the need to make available new financing tools that take different country-specific contexts into account;- the need to develop economic models, that help analyze these issues leading to better policy recommendation.This project aims to suggest varying design features for the proposed financing tool adapted to different country-specific contexts across a range of OECD countries as well as providing policy recommendations, for different countries.
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