Miami Beach, Miramar, and Broward County Officials Select Ygrene as Affordable, Accessible Clean Energy Financing of Choice for Climate Resilient Property Upgrades
July 27, 2016
Florida Mayors choose YgreneWorks as President Obama endorses PACE as a key driver enabling adoption of solar and energy efficiency improvements by people of all income levels
SANTA ROSA, Calif., July 27, 2016 /PRNewswire/ -- Ygrene Energy Fund announced today that Miami Beach, Miramar, and Broward County have selected the award-winning YgreneWorks™ PACE (property assessed clean energy) program to help home and business owners finance a broad range of energy efficiency, renewables and hurricane protection property upgrades. On July 19, PACE was endorsed by President Obama as a cornerstone of the Clean Energy Savings for All Initiative, which will ensure that every household has options to adopt solar and other additional measures to promote energy efficiency.
Ygrene has already been selected by 270+ cities and counties across California and Florida, making it the nation's leading multi-state residential and commercial PACE provider. With more than $785M in committed capital, Ygrene continues its rapid expansion, paving the way with its commitment to providing property owners with a simple and easy process and service excellence.
Ygrene has now financed over 90 percent of all Florida PACE projects, totaling $77 million in residential, commercial, and multifamily property upgrades that increase energy efficiency and protect homes and businesses against hurricane impact.
Florida Mayors: "YgreneWorks for our communities"
Philip Levine (Mayor of the City of Miami Beach): "We are excited to offer Miami Beach residents PACE financing for energy efficiency and climate resiliency improvements to their homes and businesses. This program will undoubtedly make our community safer and more resilient to extreme weather while contributing to lowering our residents' insurance premiums. I am glad this program is available and I am excited to see the many benefits it will bring to our community."
Wayne M. Messam (Mayor of the City of Miramar): "I am proud to have sponsored the legislation that enables Miramar residents and business property owners the ability to participate in the PACE program. Providing creative and accessible funding solutions that help make property more energy efficient and safe is another advantage of being in our wonderful city."
Marty Kiar (Mayor of Broward County): "PACE financing provides a unique means of broadening community-wide access to affordable energy and resiliency improvements that deliver economic and environmental benefits. It allows property owners to overcome the barrier of steep upfront costs. Insurance costs may also go down, along with savings that come from using less energy. PACE will also deliver additional economic benefits by stimulating local job growth and green sector jobs in particular."
In addition to offering the most comprehensive PACE program in the market, Ygrene also leads the industry when it comes to transparent PACEfinancing and a high level of commitment to customer protections. From application through approval, construction, project completion and funding, Ygrene's customer protection policies ensure consumers are supported every step of the way with its complete set of contractor certification, underwriting, consumer disclosure, data security and senior protection processes. For more information, view or download Ygrene's Customer Assurance and Protections.
YgreneWorks for Miami Beach, Miramar and Broward County
Ygrene's people-first approach to financing gives businesses and homeowners the most accessible and affordable way to pay for energy efficiency and climate resiliency upgrades. Rather than paying the high up-front payments associated with credit-based financing, YgreneWorks allows owners to pay off home and property improvements with terms of up to 20 years on their property tax bill. Property owners can access YgreneWorks' list of certified contractors who will work with them to select and install eligible upgrades such as solar systems, energy efficient and impact resistant windows and doors, heating and air conditioning, cool roofs, and more.
YgreneWorks is currently operational in Miami Beach, Miramar and Lauderhill. In Broward County the program will go live in 120 days. For local municipalities in the county who want to implement the program earlier, they can opt-in at any point by sending a written notice to the county. Already 420,000 people have gained access to PACE in Broward Countywith the following ten cities opting in to the program:
- Coconut Creek
- Cooper City
- Lighthouse Point
- Lauderdale by the Sea
- North Lauderdale
- Oakland Park
- Wilton Manors
With $1 billion in approved applications for more than 21,000 buildings, the YgreneWorks program is helping cities across the nation meet their clean energy and climate resiliency goals and is assisting residents in making improvements that will save them money and increase the value of their properties.
About Ygrene Energy Fund
Ygrene Energy Fund is the nation's leading provider of residential and commercial property assessed clean energy financing. The award-winning, privately funded YgreneWorks™ program provides immediately accessible financing with no upfront payments for energy efficiency, renewables, and, in certain areas, water conservation, 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 expected to create tens of thousands of local jobs and invest hundreds of millions into local economies. Learn more at ygreneworks.com.