PALM DESERT, Calif., Nov. 19, 2013 /PRNewswire/ -- Ygrene Energy Fund, a leading provider of building upgrade financing for commercial and residential property owners, is now accepting applications for its newest building upgrade program for the Coachella and Palo Verde Valleys, called Clean Energy CV Upgrade. Property owners throughout the region are now eligible for Ygrene's 100 percent financing for energy efficient, renewable energy and water conservation building improvements.
Developed in partnership with the Coachella Valley Association of Governments (CVAG), Ygrene financing through the Clean Energy CV Upgrade program covers hundreds of improvements, from solar electric and hot water systems to energy-efficient air conditioning units and water-efficient irrigation systems. Property owners are encouraged to visit CleanEnergyCVUpgrade.com, where they can input a home or business address to receive an instant pre-qualification amount and apply for financing.
To celebrate the expansion, Ygrene is offering free applications, a $50 value for residential and $250 value for commercial, through the end of the year using the promo code CVUPGRADE.
"Financing energy and water upgrades through CV Upgrade, with no money out of pocket, is a smart way to reduce your energy bill," said Tom Kirk, Executive Director of CVAG. "Thanks to the support of Ygrene and forward-thinking local officials, we're ready to make the Coachella and Palo Verde Valleys one of the most energy efficient regions in the country."
Expanding upon the benefits of the groundbreaking Palm Desert Energy Independence Program, the Clean Energy CV Upgrade program enables property owners to access 100-percent building upgrade financing from Ygrene through the property assessed clean energy (PACE) model.
Ygrene financing requires no upfront costs and is repaid through annual property taxes for a period of up to 20 years. Unlike traditional debt financing options, the financing is bound to the property rather than the individual or business and can transfer with a change in ownership—in the same fashion as property taxes. Eligibility is based primarily on property value and equity (a minimum of 15 percent is required), rather than credit score.
"Our partnership with Ygrene opens the door to economic stimulus opportunities across the Coachella and Palo Verde Valleys, both through job creation for local contractors, and through energy bill savings and increased property values for building owners," said Don Adolph, Mayor of La Quinta and CVAG Chair. "We anticipate that CV Upgrade will give a much needed boost to our communities—and our property owners' pocketbooks."
Property owners also benefit from a pool of local, Ygrene-certified contractors to ensure projects are completed by reliable professionals, and in a timely fashion. Ygrene has certified more than 40 contractors across the region to date, and has additional trainings scheduled in the coming months. Property owners can also use their own contractor, provided they participate in Ygrene's training. More information on contractor registration can be found at CleanEnergyCVUpgrade.com.
"Ygrene's financing is empowering a wide array of property owners across the country to take back control of their energy and water bills," said Stacey Lawson, CEO of Ygrene Energy Fund. "We look forward to working with Coachella and Palo Verde Valley residents to help them access additional capital so they can save money on energy and increase the value of their buildings."
Clean Energy CV Upgrade is available to commercial and residential property owners in the Cities of Blythe, Cathedral City, Coachella, Desert Hot Springs, Indian Wells, Indio, La Quinta, Palm Desert, Palm Springs, and Rancho Mirage, as well as unincorporated communities in eastern Riverside County. Learn more at CleanEnergyCVUpgrade.com, or by calling (855) 482-7283.
About Ygrene Energy Fund
Ygrene Energy Fund is the leading developer and administrator of clean energy financing programs throughout the U.S. The company provides privately funded and immediately accessible financing for building 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, or at CleanEnergyCVUpgrade.com.
SOURCE Ygrene Energy Fund