Ygrene Energy Fund and Golden State Finance Authority Launch Industry Leading Statewide PACE Financing Program
January 21, 2015
Ygrene Energy Fund formally announces the availability of YgreneWorks, a statewide Property Assessed Clean Energy (PACE) financing program based on its successful Clean Energy financing currently available to more than 3 million Californians.
SANTA ROSA, CA -- Ygrene Energy Fund formally announces the availability of Ygrene Works™, its statewide Property Assessed Clean Energy (PACE) financing program based on its successful Clean Energy financing currently available to more than 3 million Californians. With this announcement, every California city and county can immediately "opt-in" to the PACE financing program making the Ygrene Works program accessible to all residents in the State. Under a unique partnership with Golden State Finance Authority (GSFA), formerly known as California Home Finance Authority or CRHMFA Homebuyers Fund (CHF), cities and counties can now approve Ygrene Works in a single step making this ground-breaking financing option effortlessly available for energy efficiency and water conservation upgrades to homes and businesses.
"In coordination with Ygrene, we are excited to utilize our experience with local government to provide an outstanding program for property owners seeking to finance energy upgrades to their properties," said Greg Norton, Executive Director of GSFA. "Ygrene and GSFA have developed a program that allows property owners to cost effectively finance energy efficiency projects that not only reduce energy costs but also contribute to job creation and improve local economies. We are excited to partner with Ygrene to bring the Ygrene Works PACE financing program to additional cities and counties across the State of California."
Ygrene Works provides 100 percent financing for residential, commercial, industrial and agricultural property owners to deploy energy efficiency, renewable energy, and water conservation projects. Ygrene Works offers the lowest financing rates and fees in the industry. Ygrene is the only existing PACE financing program providing repayment terms of up to 30 years, resulting in lower monthly payments and potentially making even the most expensive upgrades affordable. Since 2013, thousands of home and business owners have utilized this simple and affordable financing mechanism to improve the value of their property and to save millions of dollars on their energy and water bills.
"We designed Ygrene Works to deliver the best financing program on the market with the fastest delivery," said Stacey Lawson, Ygrene President and CEO. "Ygrene Works allows cities and counties to activate the lowest-cost energy upgrade financing for residents in one simple step. Californians can save money right away while cities and counties can enhance efforts to achieve environmental targets, create local jobs and generate economic growth. We look forward to continuing to lead the efficiency revolution with communities across the state."
Activating the Ygrene Works financing program is fast and simple. The company streamlines the process ensuring there is virtually no staff time required, zero cost to taxpayers, and no risk of liability for local governments. Communities may activate Ygrene Works by approving a single resolution that will make the financing available to both home and business owners. Ygrene and GSFA provide all of the necessary documents including sample staff reports and resolutions.
If a community already has a PACE program, adding Ygrene Works will provide expanded options for constituents including the lowest rates and fees, longest financing terms, and unique features and benefits that do not currently exist with other PACE programs. Ygrene provides support to get the program up and running, including local contractor training, advertising, marketing support, and a sales or call center staffed with knowledgeable financial sales advisors bringing their expertise to the local program.
All cities and counties in California can join Ygrene Works today by visiting https://ygreneworks.com/communities, or calling 707-236-6608 to speak to a program advisor who can walk you through the process of activating the program in your community.
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 www.ygreneworks.com.
About Golden State Finance Authority
Golden State Finance Authority (GSFA), formerly known as California Home Finance Authority and CRHMFA Homebuyers Fund (CHF), is a joint powers authority organized in 1993 to support affordable homeownership in California. GSFA has distinguished itself as a leader in housing finance in California for more than 20 years helping more than 45,000 individuals and families purchase a home. GSFA has gifted over $49 million in down payment assistance grants and helped over 1,260 homeowners to make energy efficiency upgrades to their properties.
California Home Finance Authority (CHF) is in the process of formally changing its name to Golden State Finance Authority (GSFA).