Commercial, Energy Efficiency, Industrial, Finance - January 15, 2016
Growing trend: Zero-down financing for energy efficiency, climate resiliency upgrades
Ygrene Energy Fund announced Jan. 15 that Alachua County, Fla., joined 25 other Florida municipalities in the adoption of its property assessed clean energy, or PACE, financing program, YgreneWorks.
The program, administered by Ygrene, gives business owners and residents access to private funds designated for energy efficiency, renewable energy and climate resiliency upgrades in the face of rising sea levels and hurricane activity.
"Florida faces more extreme weather scenarios than almost anywhere else in the country, which is why access to smart financing for a wide array of energy-conserving home and business retrofits is more important than ever," Stacey Lawson, CEO of Ygrene, said in a news release. "Every new community that joins is another step closer to securing a more vibrant, climate-resilient future for the Sunshine State."
According to a statement, residential, commercial and multi-family property owners have the ability to make the necessary structural retrofits and upgrades needed to increase energy efficiency and combat the effects of climate change, including impact-resistant windows and doors, siding, roofs and HVAC improvements with no up-front costs.
Ygrene has completed more than 1,000 PACE projects in Florida. Since its founding, the company has approved $900 million in funding nationally for upgrades to the built environment. These upgrades collectively produce 56 MW of energy and save 1.1 million metric tons of CO2.
PACE provides Florida home and business owners a proven solution enabling them to upgrade their properties in ways that cut utility costs and increase property values.
Ygrene offers zero down, 100% financing, terms of up to 20 years and repayment through property taxes to finance energy efficiency, renewable energy, water conservation and climate resiliency upgrades, the company said. Once cities and counties like Alachua opt in, property owners have access to Certified Ygrene Contractors who are trained to educate owners on the benefits of the Program, as well as tackle a wide range of upgrades. Ygrene currently administers PACE programs in more than 150 communities across the U.S.
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