As Demand for PACE Soars, Ygrene Equips Riverside with Additional Resources to Finance Energy and Water Efficiency Upgrades for All Property Types

Persistent drought drives adoption of PACE programs statewide

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Apr 05, 2016, 07:00 ET

SANTA ROSA, Calif., April 5, 2016 /PRNewswire/ -- Ygrene Energy Fund, the leading multi-state provider of residential and commercial PACE financing, today announced that Riverside County has adopted its award-winning YgreneWorks™ program. The program gives residents access to private funds necessary to make water conservation, energy efficiency, renewable energy and climate resiliency upgrades. With $1 billion in approved applications for over 21,000 properties, and $350M in completed contracts, Ygrene has been generating successful outcomes for customers across the United States. Riverside businesses and homeowners interested in Ygrene's zero-down financing, please visit ygreneworks.com.

"Government should encourage competition and an open market and ensure that consumers have choices, which is why I strongly supported Riverside County opening up the marketplace to provide access to the YgreneWorks PACE program," said Riverside County Supervisor Kevin Jeffries.

Ygrene is now authorized in more than 200 cities and counties in California and Florida. In California, drought-related water mandates have urged most of the state's largest municipalities to adopt YgreneWorks, including the cities of Los Angeles, San Diego, San Jose, Fresno, Sacramento, Oakland and Santa Ana, as well as 29 counties, now including the County of Riverside.

Ygrene's PACE program allows home and business owners to pay for energy and water efficient upgrades through their property taxes. These upgrades are done by local businesses and serve to bolster regional economies. Since the company's inception, Ygrene has trained and certified nearly 3,000 contractors in communities across its multi-state service territory.

With an 800% year-over-year increase in applications, Ygrene is providing unprecedented access to clean energy and climate resilient upgrades through its zero upfront cost financing program, YgreneWorks™. Ygrene can finance a range of energy, water, and climate resiliency upgrades such as solar power, drought-tolerant landscaping and seismic retrofits.

"While residential PACE projects have proliferated in Riverside, the county's commercial and multi-family property owners have not yet had access to the same PACE-enabled energy efficiency and resiliency benefits that homeowners have enjoyed. Now, with Ygrene's PACE program, all property types in Riverside can minimize their carbon footprints and reduce their energy costs," said Stacey Lawson, President and CEO of Ygrene. "We thank everyone who helped to bring YgreneWorks to Riverside and look forward to serving the community as it brings water conservation, energy efficiency, renewable energy and climate resiliency measures within reach for all."

Ygrene by the Numbers

62 multifamily housing (MFH) projects completed, making it the largest MFH funder
$875M in local economic stimulus
5,250 jobs created & sustained
$700M energy saved (utility bill savings)
1.5B Gal water saved

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 YgreneWorks™ program provides immediately accessible financing with no upfront costs for energy efficiency, renewable energy, water conservation and, in certain areas, hurricane protection, electric vehicle charging stations and seismic upgrades. 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