YgreneWorks Exceeds $600M in PACE Financing

YgreneWork’s PACE program has helped finance approximately 29,000 completed contracts, the equivalent of $639 million allocated for energy efficiency, renewable generation and water conservation improvements.

By Anca Gagiuc

Ygrene Energy Fund announced that its YgreneWorks™ PACE (Property Assessed Clean Energy) program has financed roughly 29,000 completed contracts, which means that $639 million in financing were allocated for energy efficiency, renewable generation and water conservation improvements. So far, approximately 24.5 million California property owners in more than 250 communities have accessed Ygrene’s PACE financing program.

The YgreneWorks program provides up to 100 percent project financing for projects designed to reduce water and energy consumption. Moreover, the clean energy provider offers consumer protection policies that ensure participating Californians are assisted every step of the way through their contractor training and certification process, underwriting criteria, consumer disclosures, data security and senior protection policies.

Local impressions

“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,” Supervisor Chris Howard of the County of Del Norte said in prepared remarks.

“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.”

Video courtesy of Ygrene Energy Fund

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