Following positive Florida Supreme Court decision, PACE financing saves businesses and homeowners thousands in climate-proofing retrofits
MIAMI, Jan. 14, 2016 /PRNewswire/ -- On the heels of President Obama's Climate Action Plan and the COP21 Paris agreement, Ygrene Energy Fund announces today that Alachua County has joined the ranks of 25 other Florida municipalities in the adoption of the state's leading property assessed clean energy (PACE) financing program, YgreneWorksTM. The program, administered by Ygrene, gives residents access to private funds necessary to achieve energy efficiency, renewable energy and climate resiliency upgrades in the face of rising sea levels and hurricane activity. Alachua businesses and homeowners interested in Ygrene's zero-down financing, please visit ygreneworks.com.
"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," said Stacey Lawson, CEO of Ygrene. "Every new community that joins is another step closer to securing a more vibrant, climate-resilient future for the Sunshine State."
With the YgreneWorks program, 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 is the only PACE provider in Florida to reach scale with over $50M in project contracts and more than 1,000 projects completed. Since its founding, Ygrene has approved $900M in funding nationally for upgrades to the built environment, which produces more than $2.3B in economic stimulus, 13,500 new and sustained jobs and 56MW of energy, as well as saving 1.1M metric tons of CO2 and enough energy to power 890,000 homes for a full year.
Following the recent Florida Supreme Court PACE decision, Ygrene continues to expand its reach to help residents prepare for severe climate events, such as hurricanes and rising sea levels, threatening $390B worth of Florida properties. PACE provides Florida home and business owners a proven solution that enables them to upgrade their properties, while cutting utility costs and increasing property value. Home to the University of Florida, Alachua County is sending a strong message of its commitment to mobilize around this critical issue by allowing property owners access to financing through the YgreneWorks program in order to get the job done.
How it Works
YgreneWorks 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. 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.
*Clean Energy Green Corridor, the geographic district where YgreneWorks is operational, is currently in the process of finalizing its agreement with the tax collector.
About Ygrene Energy Fund
Ygrene Energy Fund is a leading residential and commercial provider of clean energy financing throughout the United States. The award winning, privately funded YgreneWorksTM program provides immediately accessible financing with no upfront costs for energy efficiency, renewable energy and hurricane protection. 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 projected to create tens of thousands of local jobs and invest hundreds of millions into local economies. Learn more at ygreneworks.com.
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SOURCE Ygrene Energy Fund
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