Ygrene Energy Fund, which finances building upgrades, is expanding its PACE financing programs to Yolo and Sacramento counties. This makes Ygrene — and its 100 percent financing for energy-efficient, renewable energy and water conservation building improvements — available to thousands of additional property in the region.
Owners of both commercial and residential properties may visit CleanEnergyYolo.com or CleanEnergySac.com to search their property, receive an instant building upgrade pre-qualification amount based on their property’s value, and apply online. Thousands of eligible improvements qualify, including heating and air-conditioning systems, solar technology, new windows and roofs, and many more.
To celebrate the expansion, Ygrene is offering free applications, a $50 value, through November using the promo codes “UPGRADEYOLO” and “UPGRADESAC.”
Ygrene’s financing is an alternative to traditional debt financing options. The financing is bound to the property rather than the individual or business and can transfer with a change in ownership in the same fashion as a property tax.
Eligibility is based primarily on property value and equity (a minimum of 15 percent is required) rather than credit score. To date, the company has received nearly 200 applications in the city of Sacramento alone, valued at more than $45 million in potential building improvements.
“Many Yolo residents have significant equity in their properties but not the substantial up-front funds typically required to make clean energy and water conservation improvements,” said Yolo County Supervisor Mike McGowan. “This program allows those owners to upgrade without the up-front costs and without taking on traditional debt.”
Added Stacey Lawson, CEO of Ygrene Energy Fund, ”We’re seeing a lot of pent-up demand from folks who didn’t have access to capital to make these improvements before — the financing was the missing piece.”