Sacramento County Commissions PACE District Program with Ygrene Energy Fund opens new energy upgrade financing option countywide
SACRAMENTO, Calif., March 28, 2013 /PRNewswire/ -- On Tuesday, March 26, the Sacramento County Board of Supervisors officially formed a Property Assessed Clean Energy (PACE) financing district within the unincorporated County, finalizing a process set in motion late last year. The County has partnered with Ygrene Energy Fund, a leading provider of clean energy finance programs for local governments, to create new facility upgrade opportunities for property owners countywide.
By creating this district, the County enables property owners to finance energy efficiency, water conservation and renewable energy upgrades with no capital outlay. Instead, the investment is repaid in smaller, more manageable increments through future property tax bills. Through Ygrene's program, property owners can efficiently connect with more than 180 Ygrene certified local contractors to bring projects to life.
Additionally, the ruling offers six incorporated cities in the greater Sacramento area—Citrus Heights, Elk Grove, Folsom, Galt, Isleton, and Rancho Cordova—the opportunity to opt into this program.
"We commend Sacramento County for its work to unlock the financial and environmental benefits of energy and water infrastructure upgrades for the thousands of commercial buildings across the region," said Stacey Lawson, Ygrene CEO. "With the support of Ygrene, the County can now offer its property owners a simple and easy option to finance their home energy improvements at no up front cost, and without any taxpayer money. We're very excited about this partnership."
This news comes on the heels of Ygrene's Clean Energy Sacramento program in the City of Sacramento, which went live in January. Sacramento County property owners and contractors can learn more at CleanEnergySacramento.com.
"This decision is a true win-win for Sacramento County. For every $100 million invested in these upgrades, we project the creation of 1,500 new jobs and $250 million in economic stimulus—all without placing any financial burden on the county's general fund," said Phil Serna, Sacramento County Supervisor. "We look forward to working with the Ygrene team to increase local property values and generate significant utility bill savings for our residents."
About Ygrene Energy Fund
Ygrene Energy Fund is the leading developer and administrator of clean energy financing programs throughout the U.S. Ygrene's fully funded Clean Energy Programs provide privately funded and immediately accessible financing for renewable and energy efficiency upgrades to both residential and commercial property owners at no upfront costs. Over the next five years, Ygrene's Clean Energy Districts are projected to create tens of thousands of local jobs, invest hundreds of millions into local economies and drive massive reductions in greenhouse gasses. Learn more at ygrene.us and CleanEnergySacramento.com.
SOURCE Ygrene Energy Fund