Ygrene recognized as key partner for energy efficiency and sustainability
On Tuesday, May 22, the Sacramento City Council recognized the fifth anniversary of the Property Assessed Clean Energy (PACE) program, an innovative policy that provides 100-percent private funding for energy retrofits to local home and business owners – with no public dollars.
The resolution, authored by Councilmember Schenirer, acknowledged the vital role Ygrene has played to help our City be a national leader in energy efficiency and sustainability.
In 2013, the City of Sacramento and Ygrene launched the nation’s first privately-funded clean energy financing program, for both commercial and residential buildings. The PACE program has helped residents lower their energy bills and consumption, thus aiding the City of Sacramento in meeting its bold energy efficiency and resiliency goals.
In the last five years, Ygrene has invested over $55 million to fund more than 2,500 projects in Sacramento, created over 700 local jobs, and abated nearly 55,000 metric tons of CO2 emissions. Cities throughout California have taken notice and PACE is now available to nearly 75 percent of California’s population – 30 million residents. Ygrene’s expansion in California created more than 12,000 jobs and has helped save 3.4 billion gallons of water. This is good for residents, local businesses and the environment.
What began in the “City of Trees” five years ago, now represents one of the best examples of a public-private partnership. Due in part to Sacramento’s success, PACE financing is now available to nearly 600 cities and counties across the U.S.