MIAMI--(BUSINESS WIRE)--Ygrene Energy Fund announced today that its YgreneWorks™ PACE (property assessed clean energy) program is on track to provide affordable financing to nearly 12,000 Florida property owners across Alachua, Broward, Charlotte, Hillsborough, Marion, Miami-Dade, Orange, Palm Beach and Pasco communities. Demand for PACE financing has continued to surge, as property owners seek to make their homes safer and more energy efficient. The YgreneWorks program has proven to residential and commercial property owners that it is an essential part of Floridian communities, allowing property owners peace of mind during hurricane season while reducing energy and insurance costs, and combating the effects of climate change – all with the highest customer protection standards in the industry.
“I’m happy to see so many Florida property owners taking advantage of Ygrene’s PACE financing to upgrade their homes and businesses,” said Miami-Dade County Commissioner Jose “Pepe” Diaz, who sponsored legislation approving Miami-Dade County’s partnership with Ygrene. “With PACE, residents are making their homes more energy efficient, securing their properties against hurricane damage and enhancing the value of their homes. We are delighted with our partnership with Ygrene and feel particularly grateful for Ygrene’s commitment to serve our unincorporated residents.”
“Ygrene is gratified to be a preferred provider of this important and valuable financing tool to so many Floridian property owners,” said Ygrene Senior Vice President Mike Lemyre. “PACE serves a critical need for so many homeowners by allowing families to invest in energy efficient and safety improvements on their homes in an affordable and safe process. We are committed to the highest levels of customer protection and transparency and look forward to our role in expanding this program across other jurisdictions and communities in the months ahead.”
Florida Property Owners Build Strong Communities Through YgreneWorks
As the most accessible form of PACE financing in Florida, Ygrene has financed nearly $260 million in energy efficient HVAC, impact-resistant windows and doors, solar, roofing, and insulation upgrades, improving buildings all over the state. Nearly half of all projects financed are impact-resistant windows and doors, as homeowners increasingly turn to PACE to respond to the growing threat of hurricanes and protect their communities. To date, the 7,944 homeowners who received hurricane retrofits with the help of Ygrene have saved an estimated $7 million in insurance premiums saving an average of almost $1,000 annually. No longer do property owners have to sacrifice their safety in the face of hurricanes.
- Ana Isabel Ceballos, Miami homeowner: “My single pane windows were a safety-nightmare for my family, but I didn’t have the funds to replace them. Thanks to Ygrene’s affordable financing, my family and I now have new impact windows; my house looks beautiful, my family feels safe, and I’m saving around $70 per month on my electricity bills.”
- Adrian Avila, Homestead homeowner: “We got 28 impact windows installed, which would have been a lot of money upfront for this upgrade, but we were able to spread out the payment over 20 years using Ygrene. I’m incredibly grateful for the service Ygrene provided.”
- Nidiana Allen, Coral Gables homeowner: “Coming home is an absolutely new experience thanks to the YgreneWorks program. With solar and efficient HVAC conserving energy, combined with savings on our insurance premiums, our sons are able to run in-and-out of the house to play without us having to worry about the impact on our energy bills.”
- Jackson Rip Holmes, Coral Gables business owner: “Plain and simple, Ygrene’s PACE financing saved my business. My roof needed to be repaired, but I didn’t have the $20,000 on-hand to replace it and my tenant was going to go on rent strike until I fixed it Ygrene financing provided peace of mind in a hopeless situation and thanks to the insurance savings, these upgrades are almost paying for themselves.”
Additionally, YgreneWorks has infused more than $600 million of economic stimulus, and funnels a growing project pipeline to its network of certified, local contractors. In all, Ygrene has created and sustained 3,800 new jobs across 97 local communities, and the demand is likely to sustain these jobs for many years to come.
Leading Consumer Protection Policies Drive Demand
Ygrene is a leader when it comes to safe, transparent PACE financing with a high level of commitment to customer protections. From application through approval, construction, project completion and funding, Ygrene's customer protection policies ensure Florida’s consumers are supported every step of the way through their contractor training and certification process, underwriting criteria, consumer disclosures, data security and senior protection policies. Ygrene employs a property-owner-first philosophy, and not a single dollar is spent, nor a project begun, until the customer has given their full consent. To this end, all financing details are verified and thoroughly explained through a personal phone call with the property owner, ensuring that customers know exactly what is available to them. For more information, view or download Ygrene's Customer Assurance and Protections.
About Ygrene Energy Fund
Ygrene Energy Fund is the nation's leading provider of residential, multifamily and commercial property assessed clean energy financing. The award-winning, privately funded YgreneWorks program provides immediately accessible financing with no upfront payments for energy efficiency, renewables, water conservation, and, in certain areas, hurricane protection, electric vehicle charging stations and seismic upgrades. Ygrene is committed to making it easy for property owners to invest in their future and a healthier environment. Over the next five years, YgreneWorks is expected to create tens of thousands of jobs and invest billions of dollars into local economies. Learn more at ygreneworks.com.