SACRAMENTO, Calif., Jan. 3, 2013 /PRNewswire/ -- The City of Sacramento and Ygrene Energy Fund, a leading provider of clean energy finance programs for local governments, today announced reaching several key milestones as part of the launch of Clean Energy Sacramento. Most notably, the initiative's Energy Savings Opportunity Program assessed 15 commercial and multi-family properties which led to $22M in projects in the pipeline, creating 330 local jobs and generating $55M in local economic activity. Clean Energy Sacramento is a cornerstone for the city's vision of creating a more sustainable city, a hub of clean technology, green jobs, a cleaner environment and robust economic development.
Additional Clean Energy Sacramento milestones include:
- Assessing two million square feet of commercial property.
- Assessing more than $40M in multi-family properties representing nearly 600 multi-family residential units.
- Registering and training more than 140 local contractors representing more than 60 companies to begin work on energy upgrades.
Clean Energy Sacramento provides 100 percent financing for property owners for energy efficiency, water conservation and renewable energy upgrades, repaid through a voluntary property tax—with zero public funds. As part of the initiative, Clean Energy Sacramento launched the Energy Savings Opportunity Program to conduct energy audits through local contractors at reduced costs to Sacramento property owners. Along with helping to achieve the key milestones above, the program also spread awareness about the tremendous benefits of clean energy financing and retrofits across the region.
"Clean Energy Sacramento has already exceeded our expectations, sparking great interest from contractors and property owners who want to create local jobs and reduce energy costs," said Kevin Johnson, Mayor of Sacramento. "These milestones demonstrate that good economic policy is also good environmental policy, and mark an important step in transforming Sacramento into the Emerald Valley."
"We're seeing a groundswell of excitement for Clean Energy Sacramento, with property owners committing to upgrade more than one-third of eligible projects—even before the program launches," remarked Dan Schaefer, Ygrene Energy Fund President. "We look forward to working with local leaders in Sacramento and across the country to continue unlocking the power of clean energy financing to power their economy and help the environment."
About Ygrene Energy Fund
Ygrene Energy Fund is the leading developer and administrator of clean energy finance programs throughout the U.S. Ygrene has unlocked $550 million of private funding for affordable, immediately accessible financing for commercial and residential energy upgrades at no upfront costs. Over the next five years, Ygrene's Clean Energy Districts are projected to create tens of thousands local jobs, invest millions in local businesses and drive massive reductions in greenhouse gasses. Learn more at ygrene.us.
SOURCE Ygrene Energy Fund