PETALUMA, Calif., July 15, 2019 /PRNewswire/ -- Ygrene Energy Fund, a national leader in energy efficiency and resiliency financing, announced today that it has funded its 1,000th Commercial PACE project (C-PACE).
C-PACE makes it possible for owners of commercial, industrial, multifamily, and nonprofit properties to obtain low-cost, long-term financing for energy efficiency, water conservation, and renewable energy projects.
Ygrene, the largest provider of C-PACE financing in the United States, is responsible for funding 52 percent of all C-PACE projects nationwide. Thirty-six states plus the District of Columbia have C-PACE enabling legislation, which has helped finance more than $800 million in clean energy projects since the program's inception. With its program focused on small- and mid-sized projects, Ygrene's commercial financings represent 15 percent of the total dollar volume of C-PACE industrywide.
"We are thrilled to have reached this landmark achievement, which speaks to the trust that businesses and property owners across the country place in Ygrene," said David Kelly, Senior Vice President for Ygrene. "No matter the size of the project, Ygrene has proven that we are committed to getting the job done – the right way. We look forward to continued success as we work with businesses of all sizes to make financing clean energy improvements more accessible and affordable."
Throughout the nation, C-PACE projects have created more than 13,245 jobs and enabled nearly 2,000 upgrades to commercial properties in at least 16 different states.
"This is a not only a critical milestone for Ygrene, but also for the PACE industry as a whole," said David Kelly. "PACE has proven to be a reliable program that enables business owners to save on their energy bills while also reaching their sustainability goals."
Ygrene is helping communities across the nation fund projects to meet their energy efficiency and resiliency goals. The full list of jurisdictions where Ygrene's C-PACE program has been approved can be found here.
About Ygrene Energy Fund
Ygrene's award-winning PACE program, with built-in consumer protections, is delivering greater choice for home and business owners by providing accessible and affordable financing for energy efficiency, resiliency, 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. By providing over $1 billion of private capital to more than 550 local communities, Ygrene has created thousands of jobs and invested millions into local economies across the U.S. Learn more at ygrene.com.