PETALUMA, Calif.--(BUSINESS WIRE)--Ygrene Energy Fund announced today that its YgreneWorks™ PACE (Property Assessed Clean Energy) program has financed nearly 29,000 completed contracts, providing $639 Million of financing for energy efficiency, renewable generation and water conservation improvements. Approximately 24.5 million California property owners across more than 250 communities have gained access to Ygrene’s PACE financing as demand for affordable options continues to grow. Increasingly, property owners seeking to make their homes more resource efficient are selecting PACE, which is especially important as the state faces record high temperatures, increasing the need for upgraded HVAC units.
In addition, there is strong adoption momentum for Ygrene’s PACE initiatives in many communities across California. In the last few months, the YgreneWorks program has been approved in a diverse group of cities across the state, including Sunnyvale, Walnut Creek, Tustin, Duarte and Riverbank.
The YgreneWorks program provides up to 100% project financing to hard working residential and commercial property owners for projects that reduce their water and energy consumption. This activity helps drive the local green economy and trade-related jobs. All participants in the YgreneWorks program experience the highest consumer protection standards in the industry.
Charlene Chappel, Hayward Homeowner - “Improving the comfort in my home felt like a hopeless undertaking, the scope of the project was so big and daunting to me. It was not only Ygrene’s financing that made this possible—they offer so much more with their account managers, database of certified contractors, and customer protection to fully assist me in this project. I could never have done this project with other means like refinancing our home.”
“We are thrilled with the level of growth that we have seen in California and proud that Ygrene has been able to introduce so many homeowners to affordable water and energy efficiency upgrades, additionally solar,” said Ygrene Senior Vice President Mike Lemyre. “There is no doubt that PACE has changed the lives of countless Californians by helping to weatherize homes and businesses, enable cities and counties to meet climate action and resiliency plan goals and generate thousands of jobs—and there is still much work to be done.”
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 consumer protections. From application through approval, construction, project completion, and funding, Ygrene's consumer protection policies ensure participating Californians 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 and a three-day right of rescission has passed. 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.
Supervisor Chris Howard, County of Del Norte - “PACE is good public policy and we were excited to make Ygrene available to the constituents of the County of Del Norte. Ygrene changes lives: It creates opportunities and jobs for the contractor community, lowers energy bills for the property owner community, helps meet state mandates for GHG reduction for the local government, and improves the quality of the housing stock for the Realtor community. Ygrene is a win, win, win for the County of Del Norte!”
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.