ST. LOUIS, Oct. 19, 2018 /PRNewswire/ -- The City of St. Louis and Ygrene, a national leader in energy efficiency and renewable financing, celebrated on October 5th five years since the launch of "Set the PACE St. Louis," (www.setthepacestlouis.com) a comprehensive, privately-funded energy financing program for both residential and commercial buildings. Known as PACE (Property Assessed Clean Energy), the program has now become a national model, expanding to over 500 cities and counties across the U.S.
"Through Set the PACE St. Louis and our partnership with Ygrene, our city has shown that good public policy can create jobs, save residents money, and help leave a safer, cleaner planet to our children," said City of St. Louis Mayor Lyda Krewson. "I'm proud to say that we've delivered more than $28 million in private financing for energy efficiency and renewable projects that have created more than 400 good-paying jobs without increases in public spending. That's the type of successful public-private partnership that is helping St. Louis lead the nation in innovative programs to the benefit our City."
The inaugural project, financed through Set the PACE on November 1, 2013, installed solar rooftop panels at Four Muddy Paws in historic Lafayette Square, location of the city's oldest public park. Since then, the program has funded more than 100 energy efficiency and renewable projects and abated more than 34,000 metric tons of carbon pollution. In addition, Set the PACE St. Louis has helped property owners lower their energy bills, representing $57 million in utility bill savings. Other notable projects include a two-and-half million-dollar comprehensive energy retrofit on the iconic Missouri Athletic Club, and a $10 million PACE project for the new, boutique 146-room Angad Arts Hotel in the Grand Arts Center District. The St. Louis Development Corporation, led by Otis Williams, has hosted the program's all-volunteer governing board since inception.
In May 2017, Set the PACE St. Louis launched Ygrene's award-winning residential PACE program with Missouri as one of only three states in the U.S. currently operating residential PACE clean-energy programs. Homeowners throughout the City of St. Louis — in North and South City — have now taken advantage of this innovative financing tool.
"Set the PACE St. Louis has become a national model for PACE partnerships," said Ygrene Senior Vice-President Mike Lemyre. "Ygrene's focus on local government priorities has helped cities like St. Louis boost economic development without spending public dollars. We look forward to continuing our partnership with the City of St. Louis and expanding PACE's footprint across the country as a win-win for policymakers and property owners."
PACE continues to represent one of the best examples of a public – private partnership, designed to promote choice, allow homeowners to upgrade their home and generate local jobs. To date, Ygrene has provided over $1 billion of private capital to more than 500 local communities, creating thousands of jobs and investing millions into local economies across the U.S.
Ygrene's PACE programming is helping communities across the nation meet their energy efficiency and resiliency goals. The full list of jurisdictions where Ygrene's PACE system has been approved can be found here.
Click here to read: "Five Years Later, St. Louis is setting the pace for urban sustainability," by St. Louis Board of Aldermen President Lewis Reed.
Ygrene Energy Fund is a national leader in residential and commercial energy efficiency and resiliency financing. Founded in 2010, Ygrene's award-winning, privately funded Property Assessed Clean Energy (PACE) program is revolutionizing the home improvement industry, making it easier for property owners to invest in their futures and a healthier environment. Ygrene is delivering greater choice for home and business owners by providing accessible and affordable financing for energy efficiency, renewables, water conservation, storm protection and seismic upgrades. Recognized as one of the fastest growing asset classes in the country, PACE has proven to be a successful tool for supporting public policy initiatives, all without the use of public tax dollars or credits. To date, Ygrene has provided over $1 billion of private capital to more than 400 local communities, creating thousands of jobs and investing millions into local economies across the U.S. Learn more at ygrene.com.