Press Release

As California Legislature Passes $1B Drought Relief Bill Package, PACE Financing Could Fund Millions in Additional Water Saving Upgrades, says Ygrene

April 2, 2015

Ygrene Works Encourages Cities to Take Advantage of PACE Financing for Water Efficiency Upgrades

SANTA ROSA, CA -- On the heels of California Governor Jerry Brown's newly approved $1 billion Drought Relief Bill Package, Ygrene Energy Fund, a leading provider of property assessed clean energy (PACE) programs, today pointed to the significant role that PACE financing can play in funding many residential water conservation upgrades.

The urgency of the drought in California is leaving city managers, council members and residents asking what they can do to help. Ygrene, whose Ygrene Works program offers 100 percent financing for residential and commercial property owners to deploy energy efficiency and renewable energy upgrades, is poised to fund water conservation upgrades during this critical time. Though PACE financing is widely recognized as a mechanism for funding residential solar power, Ygrene Works PACE financing also offers funding for: rainwater cisterns, water saving sprinkler system, drip irrigation, artificial turf and low flow plumbing. Ygrene Works can help property owners pay for water saving upgrades that can ease the impact of regulations prohibiting water use. Additionally, Ygrene Works puts capital to work in our local communities, financing not only residential projects, but also commercial, industrial, and agricultural properties. Thousands of home and business owners have utilized Ygrene Works' simple and affordable financing mechanism to improve the value of their property and to save millions of dollars on their energy bills.

"CVAG and its members were one of the first to leverage the innovative Ygrene Works financing, through its CV Upgrade program, and it has been a great success in our communities. Having already completed hundreds of projects and enabled millions of dollars in energy and water-related savings, the program continues to expand delivering many more opportunities for our residents to save water and electricity," said Tom Kirk, Executive Director CVAG.

"Cities and residents are struggling to deal with the drought and are unaware that PACE financing can be used to address many of the capital challenges they are facing," said Stacey Lawson, CEO of Ygrene Energy Fund. "Ygrene is currently in the process of expanding its footprint by enrolling cities across California in order to give all residents the opportunity to access the Ygrene Works program, a program designed to help everyone do their part during this drought."

About Ygrene Energy Fund
Ygrene Energy Fund is the leading developer and administrator of clean energy financing programs throughout the United States. The fully funded Ygrene Works program provides immediately accessible financing for renewable generation, energy efficiency and water conservation upgrades to both residential and commercial property owners at no upfront costs. Over the next five years, the Ygrene Works program is projected to create tens of thousands of local jobs and invest hundreds of millions into local economies. Learn more at