The new Clean Energy Sacramento (CES) program by Ygrene and the City of Sacramento provides 100% financing for energy efficiency upgrades allowing you to invest in your building today and reduce your monthly payment to the utilities. In some cases the reduction in monthly utility costs will offset the amortized monthly cost of the upgrades, including the financing.
The P.A.C.E. (Property Assessed Clean Energy) financing is repayable over the long term via a special line-item on your annual property tax bill with no impact to your credit because this type of funding is considered off-balance sheet. So it pays to be green, now.
Now is the time to take advantage of this unique funding source to lower your building's energy consumption
and increase the NOI.
What is Clean Energy Sacramento and how does it work?
Clean Energy Sacramento (CES) is a joint effort between the City of Sacramento and Ygrene Energy Fund that allows building owners to finance renewable energy, energy efficiency and water efficiency upgrades over the long term. The cost of the improvements is paid back over periods of up to 20 years as part of the owner's property tax bill.
What are examples of energy upgrades that qualify for this financing?
Solar Panels New Roofs
Multi-pane Windows Lighting Systems and Controls
HVAC Systems Duct and Envelope Sealing
Water Efficiency Measures Insulation
Other Deferred Maintenance and Systems Replacement Projects
How does Ygrene's clean energy financing differ from other options?
- Your personal credit score has no impact on funding eligibility or interest rate
- Eligibility is determined quickly and easily through an online search with Ygrene's funding management system.
- Funding is paid back over a long period of time and does not carry a balloon payment
- The project debt may not have to be paid off upon property sale or transfer
Who can participate?
Ygrene offers funding for properties within the Clean Energy Sacramento District and any owner whose property lies within the district can apply for financing. Single-family homes and commercial buildings of all sizes (including retail, industrial and multi-family properties) located within the City of Sacramento are eligible.
What are Clean Energy Sacramento's underwriting criteria?
To qualify, owners must have at least 15% equity in their property, must be current on property taxes and mortgages for 3 years and must not be in bankruptcy. Utility cost savings must exceed the cost of the improvement over their useful life (commercial only) and the financing cannot exceed 10% of the fair value of the building.
What happens if the property is sold?
If the property is sold or transferred, the tax payment obligation may be transferred with the property to the new owner.
Will the value of the energy improvements be reflected in the appraised value of my property?
Property appraisers recognize energy cost savings in conducting their evaluations. While it is possible that the full cost of energy improvements may not be recognized in every case, improvements in energy performance and sustainability directly increase both appraisals and market values of the property.
Are there local resources are available?
The Sacramento Ygrene Energy Center is located at 2600 Capital Avenue in midtown Sacramento. The Energy Center is staffed with Ygrene representatives, there to answer any questions you may have about the program and to help you manage your projects.
Cooper Oates Air Conditioning is a qualified Ygrene Contractor and is ready to assist you with the process of qualification, project design, financing and then saving energy. We can guide you through every step of the process: From building benchmarking to see how it stacks up on energy use, to full energy assessment, through upgrade project planning, completion and verification of the energy-saving results. When you are ready to proceed or need more information, contact COAC's Energy Services Director, Bill Schmalzel. See for yourself if now is the time for green.
© Ygrene Energy Fund 2012 www.cleanenergysacramento.com