PETALUMA, Calif.--(BUSINESS WIRE)--Ygrene Energy Fund, a national leader in residential and commercial clean energy financing, today announced that Property Assessed Clean Energy (PACE) programs have received the endorsement of the Space Coast Association of REALTORS®, the professional trade association representing more than 4,000 REALTORS and 350 affiliated business partners in Brevard County, FL.
“PACE has shown the potential to generate tremendous economic benefits at zero cost to the local governments when it is made available,” states the letter of support, penned by Lynn Jones, President of the Space Coast Association of REALTORS®. The letter, which was addressed to the elected officials of Brevard County, went on to state: “In fact, $10 million in PACE funding can create 150 new jobs, generate $25 million in gross economic output and produce $2.5 million in combined federal, state and local tax revenue.”
Hailed as one of the top 20 “world-changing” ideas by Scientific American Magazine, PACE financing is an innovative program that enables property owners to obtain 100 percent financing for seismic retrofits, energy- and water-saving upgrades, onsite renewable energy generation projects and, in some areas, hurricane protection and EV charging stations. Payments are made with property taxes and repaid over long terms, up to 20-plus years.
“We are honored to have the support of realtors in Brevard County,” said Mike Lemyre, Ygrene Senior Vice President, Government Affairs. “This vote of confidence from the Space Coast Association of REALTORS® is a positive sign we’re on the right track with our aim to give property owners the power of choice, the ability to increase the value of their property, and access to affordable home improvement opportunities. It’s our hope that elected officials in Brevard County also see the positive impact PACE financing can have on their community.”
Ygrene PACE financing is currently available in California, Florida and Missouri. A copy of the letter of support issued by Space Coast Association of REALTORS® can be viewed in full here.
About Ygrene Energy Fund
Ygrene Energy Fund is a national leader in residential and commercial clean energy 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 ygreneworks.com.