John Oliver rips into US clean-energy loans: ‘This business model is fundamentally flawed’

The Last Week Tonight host digs into a government program whose lack of oversight has left many risking their homes

John Oliver turned his attention this week to a public lending program called Pace, whose state-supported clean energy loans have stranded many vulnerable homeowners in overwhelming debt or at risk of losing their homes. The program, which stands for Property Assessed Clean Energy, is a cautionary tale about how good intentions when not paired with careful, smart design, can end in disaster", the Last Week Tonight host explained.

Through Pace, local governments borrow money at low rates made available to low-income borrowers for energy-saving home improvements, which are then paid back through increases to property taxes.