SANTA ROSA, Calif., Sept. 13, 2016 /PRNewswire/ -- Ygrene Energy Fund announced today that the City of Riverside is the most recent Inland Empire community to approve the award-winning YgreneWorks™ PACE (property assessed clean energy) program to help property owners finance a broad range of energy efficiency, renewable energy and water conservation upgrades. To date, Ygrene has been selected by 294 cities and counties across California and Florida, making it the leading national residential, multifamily and commercial PACE provider.
YgreneWorks for Riverside
YgreneWorks was selected by Riverside city officials to provide greater choice in PACE financing options as drought continues to challenge the city's water supply. To date, YgreneWorks has completed contracts across Riverside County for over $41 million in residential, commercial and multifamily upgrades, resulting in 179 thousand gallons of water saved and 622 new jobs created and sustained.
Rusty Bailey, Mayor of Riverside: "Bringing Ygrene and CSCDA programs to the City of Riverside really expands our PACE portfolio, which makes low-cost energy efficiency financing available to a broader range of property owners. Opening the PACE program up to more providers creates competition in the marketplace, which is good for consumers and creates more job opportunities for our local building contractors."
Gary Robinson, Blue Star Energy: "I've worked in the solar industry for over a decade and recently started my own company to help meet the growing demand for renewables in Southern California. Ygrene's flexible and seamless financing process has really helped to get my business off the ground."
Ygrene's people-first approach to financing gives businesses and homeowners the most accessible and affordable way to pay for energy efficiency and climate resiliency upgrades. Rather than paying the high up-front costs and monthly payments often associated with credit-based financing, YgreneWorks allows property owners to pay off improvements with terms of up to 30 years through their property tax bill. Property owners can access YgreneWorks' list of certified contractors who will work with them to select and install eligible upgrades such as solar systems, energy efficient windows and doors, heating and air conditioning, cool roofs and more.
Ygrene is a leader when it comes to safe, transparent PACE financing with a high level of commitment to customer protections. Working alongside the California Mortgage Bankers Association and other PACE industry providers, Ygrene paved the way for the passing of California Assembly Bill 2693 on August 30, 2016—establishing uniform disclosures for consumers of PACE programs. From application through approval, construction, project completion and funding, Ygrene's customer protection policies ensure Riverside consumers are supported every step of the way with its complete set of contractor certification, underwriting, consumer disclosure, data security and senior protection policies. For more information, view or download Ygrene's Customer Assurance and Protections.
With $1.75 billion in approved applications for more than 29,000 buildings, and more than $795 million in committed capital, the YgreneWorks program is helping communities across the nation meet their clean energy and climate resiliency goals.
About Ygrene Energy Fund
Ygrene Energy Fund is the nation's leading provider of residential, multifamily and commercial property assessed clean energy financing. The award-winning, privately funded YgreneWorks program provides immediately accessible financing with no upfront payments for energy efficiency, renewables, water conservation and, in certain areas, hurricane protection, electric vehicle charging stations and seismic upgrades. Ygrene is committed to making it easy for property owners to invest in their future and a healthier environment. Over the next five years, YgreneWorks is expected to create tens of thousands of jobs and invest billions of dollars into local economies. Learn more at ygreneworks.com.
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SOURCE Ygrene Energy Fund