SACRAMENTO – (July 30, 2013) Johnson Controls, the global leader in delivering solutions that increase energy efficiency in buildings, and Ygrene Energy Fund, the leading developer and administrator of clean energy financing programs, will help Seattle-based Metzler Real Estate cut energy use and utility bills at Sacramento’s Metro Center Corporate Park, using financing that allows them to pay over time rather than up front and is the nation’s biggest contract of its kind. The $3.16 million Property-Assessed Clean Energy (PACE) project is funded through Clean Energy Sacramento. The energy efficiency upgrades will reduce Metzler’s annual utility costs by $140,000, a 27 percent decrease, and create nearly 50 local jobs during the construction phase. “PACE is gaining momentum throughout the United States, connecting private capital with building owners to make improvements that result in substantial economic and environmental rewards,” said Chuck McGinnis, director, commercial energy solutions, Johnson Controls Building Efficiency. “Energy efficiency creates better buildings for owners, saves them money, delivers comfortable work environments for tenants, and new jobs to cities.”
To date, 30 states have PACE enabling legislation. PACE allows local governments to offer long-term, low-interest financing to property owners to implement energy efficiency upgrades. Projects are repaid through an annual assessment on a property tax bill that is linked to the property rather than the owner. Sacramento’s program, Clean Energy Sacramento administered by Ygrene Energy Fund, launched earlier this year. The program has closed $4.2M in projects over the past 90 days and has received over $10M in pre-approved applications.