SAN DIEGO, July 5, 2012 /PRNewswire/ -- Ygrene Energy Fund, a leading provider of clean energy finance programs for local governments, applauds the City of San Diego for its forward-thinking commitment to advancing clean energy throughout the community. San Diego now has the opportunity to unlock millions in financing for commercial energy upgrades at no up-front cost to further expand the City's sustainability leadership throughout the state and nation.
On June 28, Ygrene sponsored a public event called “Clean Energy San Diego: Global Vision, Local Impact” with CleanTECH and the San Diego Regional Chamber of Commerce to welcome former president of Costa Rica and current president of global nonprofit the Carbon War RoomJose Maria Figueres. The sold-out event brought together more than 200 local business and clean technology leaders, 40 local elected leaders and staffers – including representatives of Cleantech San Diego, San Diego Gas & Electric, Honeywell, Swinerton Builders, Fidelity National Title and more – to discuss global market-driven strategies aimed at creating thousands of local jobs and injecting millions of dollars into San Diego's economy.
"The Ygrene PACE model is one in which we at the Carbon War Room firmly believe," said Figueres. "It has advantages because it is fully funded by private capital and it has no risk and no cost to local governments."
Ygrene brings together local governments, building owners, contractors and financial institutions to facilitate building energy retrofits in California and nationwide. Ygrene leads the PACE Commercial Consortium, which helps San Diego commercial property owners tap into hundreds of millions of private funds to perform retrofits guaranteed to save them money while extending San Diego's national cleantech leadership. For every $100 million invested in upgrades, the city expects 1,500 new jobs and $250 million in economic stimulus.
"San Diego is a leader in the state – and the nation – in implementing public policy tools that promote the health of our community," said Ygrene President Dan Schaefer. "San Diego's commitment to clean energy opens up tremendous opportunities to jumpstart economic growth and enhances its position as one of the most sustainable cities in America."
About Ygrene Energy Fund Ygrene Energy Fund is the leading developer and administrator of clean energy finance programs throughout the US. In partnership with the Pace Commercial Consortium, Ygrene has unlocked $650 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-funded renewable energy and efficiency programs are projected to bring tens of thousands local jobs, millions invested in local businesses, and massive reductions in greenhouse gases.