November 5, 2020
Nation’s Leading PACE Provider Marks 10 Years Providing Vital Financing Option to Property Owners to Make Energy Efficiency and Property Protection Upgrades
(Petaluma, Calif.) - Ygrene, the nation’s leading PACE (Property Assessed Clean Energy) provider, today announced that it has reached the historic 10-year milestone in business, providing homeowners and small-and-medium-sized businesses access to affordable, long-term financing for energy and water efficiency, renewable energy, and natural disaster protection improvements. Earlier this year, Ygrene surpassed $2 Billion in PACE investment in local communities across the country, helping to create tens-of-thousands of jobs and spur local economies.
“10 years is a historic milestone for Ygrene and the PACE industry. Ygrene was built on the idea that you could create an innovative public-private program that allows property owners to take advantage of affordable, long-term financing to make critical property upgrades, all without adding a dime to state and local budgets,” said Dennis Hunter, Founder and Executive Chairman for Ygrene. “Over the course of 10 years, we’ve seen first-hand the growth of PACE: from an innovative financing tool for property owners to an essential public policy for communities.”
“Passing the 10-year mark is a critical moment for Ygrene and the PACE industry. It shows the durability and strength of our business, and it highlights the critical role PACE plays in building healthier, more sustainable communities,” said Ygrene CEO Jim Reinhart. “It’s an exciting time to be part of the PACE industry, and Ygrene remains committed to strengthening the program through improvements such as the way consumers interact with the contractors they hire, which is evidenced by Ygrene’s industry-leading customer satisfaction. With the strongest consumer protections in the industry, PACE through Ygrene protects property owners every step of the way, and it helps policymakers create local jobs, address climate change, and make homes and businesses safer and more secure. We look forward to the next decade pursuing our mission: providing accessible and affordable financing to property owners and small business owners to make essential property upgrades.”
Leading research out of the University of Southern California and the University of South Florida shows PACE is a proven solution to help combat the impacts and costs of natural disasters and climate change, while creating jobs and providing substantial positive economic impact boosting local and state economies. In fact, PACE projects financed by Ygrene across the nation have created more than 40,000 jobs and created more than $4.6 billion in local economic stimulus. PACE projects financed by Ygrene are also expected to save property owners over $1.5 billion in insurance costs over the lifetime of their improvements. Ygrene and PACE are also playing a crucial role in protecting the environment, installing more than 108 megawatts of clean solar energy, and reducing carbon emissions by more than 2 million metric tons, the equivalent of taking more than 432,000 cars off the road for a year.
Ygrene's award-winning PACE program, with built-in consumer protections, is delivering greater choice for home and business owners by providing accessible and affordable financing for energy efficiency, resiliency, renewables, water conservation, storm protection, and seismic upgrades. Recognized as one of the fastest-growing asset classes in the country, PACE has proven to be a successful tool for supporting public policy initiatives, all without the use of public tax dollars or credits. By providing over $1.9 billion of private capital to more than 550 local communities, Ygrene has created tens of thousands of jobs and invested millions into local economies across the U.S. Learn more at ygrene.com.