Commercial, Energy Efficiency, Energy Procurement, Commercial, Finance, Sourcing Renewables - May 6, 2016
Palm Springs approves entry of clean energy financing program for city property owners
The city of Palm Springs, Calif., recently voted to participate in new program — called CaliforniaFIRST — that will provide financing for thousands of property owners for environmentally friendly energy upgrades that are then repaid on property taxes.
The program, administered by Renew Financial, is a public-private partnership offering financing options to residential and commercial property owners for renewable energy and energy efficiency upgrades, as well as water efficiency measures, and electric vehicle charging infrastructure with no out-of-pocket costs, according to a May 6 news release. CaliforniaFIRST is a type of property assessed clean energy, or PACE, financing, which has been adopted by more than 200 cities and counties across the state.
The city council approved the program's implementation via a resolution dated May 4.
"The city of Palm Springs is committed to a sustainable community and we are delighted this new program will now be available to help residents and businesses finance solar energy while helping the environment," Geoff Kors, Council member for Palm Springs, said in a statement.
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