PALM DESERT, Calif., Aug. 5, 2013 – The Coachella Valley Association of Governments (CVAG) has officially formed a Property Assessed Clean Energy (PACE) financing district in partnership with Ygrene Energy Fund, a leading provider of clean energy finance programs for local governments. All 10 cities within CVAG and the County of Riverside have opted into the district, which will make clean energy financing available to commercial and residential property owners across the region and enable property upgrades with zero upfront costs.
With the creation of this district, local property owners will be able to finance energy efficiency, renewable energy and water conservation upgrades with no upfront costs, repaid in installments via incremental property taxes. Local property owners will be able to connect with certified local contractors via Ygrene’s turnkey online hub to start projects upon program launch. According to independent research, each $100M spent under Ygrene’s programs can generate $250M in economic activity, 1,500 local jobs and $25M in local tax revenue. Read more.