Ygrene Energy Funds Florida has announced funding for the first Property Assessed Clean Energy (PACE) projects in the state. The Ygrene program provides residential and commercial property owners with access to low-cost, low-risk capital to implement building upgrades, including hurricane protection, energy efficiency and renewable energy projects.
The PACE-financed projects are non-recourse financing repaid via annual property assessments over a 20-year period. “This is a breakthrough event for the state of Florida and the nation—one that demonstrates the path toward economic revitalization and reduced energy consumption,” said Stacey Lawson, CEO of Ygrene.”Florida governments and property owners will see immediate and lasting results through the PACE program, and Ygrene is the first administrator in the state to demonstrate the viability of this model.” Read more.