Citing Drought, Seismic and Energy Concerns, 90+ California Cities and Counties Activate Ygrene's PACE Financing for Residential, Commercial and Agricultural Properties
August 26, 2015
Mayors and Councilmembers see PACE as a critical path to making cities and counties more resilient to climate change
SANTA ROSA, CA -- Ygrene Energy Fund Inc., a national provider of clean energy and water conservation financing, announced that its YgreneWorksTM program goes live today in 90+ additional cities and counties across California. Now, more than 9 million home and business owners, including small-to-midsized businesses (SMBs), industrial and agribusinesses in California, have access to immediate financing for energy, water and seismic upgrades. This comes on the heels of the National Clean Energy Summit where President Obama announced new actions to address climate change and promote clean energy and energy efficiency to households across the country.
Included in the list of new territories are the Counties of Marin, San Diego, Solano and 11 additional counties, as well as the Cities of Buena Park, Concord, Escondido, Hayward, Lancaster, San Diego, San Jose and Santa Ana, among others.
"It's time to get moving," said San Jose Mayor, Sam Liccardo. "Welcoming YgreneWorks to the city's line-up of PACE providers will give our residents additional choice in how they finance water conservation and energy efficient home improvements, and as the leading provider of multifamily and commercial PACE, Ygrene is uniquely positioned to help San Jose meet its Green Vision goals of building or retrofitting 50 million square feet of residential and commercial properties and creating 25,000 clean-tech jobs."
Ygrene's expanding portfolio demonstrates the company's dedication to providing universal access to PACE financing. With the largest number of multifamily units funded, Ygrene sees its financing model as a way for the greatest number of people to ensure their buildings and homes are resilient to climate change. With YgreneWorks, property owners receive 100% financing for building upgrades with no upfront costs and repayment terms of up to 30 years, allowing them to make timely upgrades without significant financial burden.
"Access to Ygrene funding and choices in PACE programs is important to my constituents and residents throughout the City of San Diego by helping gain access to critical tools to pay for energy efficiency retrofits to their homes and commercial buildings," said San Diego Councilmember David Alvarez. "I have been an advocate for helping make our cities cleaner and less reliant on traditional energy sources that produce greenhouse gas effects, and Ygrene and other PACE providers will help residents make wiser choices in energy consumptions and efficiency."
"Supporting cities and counties is our number one priority," notes Stacey Lawson, Ygrene's CEO. "As California's drought worsens and seismic concerns persist, we've seen a significant uptick in demand for retrofits. The activation of our YgreneWorks program in these additional communities allows us to serve a greater number of people looking to protect their homes and businesses against the effects of climate change."
A complete list of the expanded Ygrene territories can be found at ygreneworks.com.
About Ygrene Energy Fund
Ygrene Energy Fund is a leading residential and commercial provider of clean energy financing throughout the United States. The award winning, privately funded YgreneWorksTM program provides immediately accessible financing with no upfront costs for energy efficiency, renewable energy, water conservation and, in certain areas, hurricane protection, electric vehicle charging stations and seismic upgrades. Ygrene is committed to making it easy for families to invest in their future and a healthier environment. Over the next five years, YgreneWorks is projected to create tens of thousands of local jobs and invest hundreds of millions into local economies. Learn more at www.ygreneworks.com.