OAKLAND, CALIF. — CaliforniaFIRST, a Property Assessed Clean Energy (PACE) financing program for residential and commercial properties, announced new features and financial terms designed to help property owners make energy efficiency, renewable energy and water conservation upgrades. CaliforniaFIRST now has lower interest rates as well as an updated program that includes a 25-year payback term for solar with monitoring.
The CaliforniaFIRST program has been incorporated by nearly 200 cities and counties across California. CaliforniaFIRST makes energy and water efficiency projects more affordable and accessible for California homeowners by providing project financing that is then paid back as a line item on their tax assessments. The program allows homeowners to choose a participating contractor and install an array of custom-tailored clean energy and water efficiency projects.
The CaliforniaFIRST team recently announced new lower interest rates: the 10-year rate dropped from 7.9% to 7.59%, the 15-year rate dropped from 8.5% to 7.99%, the 20-year rate dropped from 8.75% to 8.29% and the new 25-year term is offered at 8.39%. Read more.