MIAMI, May 17, 2016 /PRNewswire/ — Based on the overwhelming success of a one-year residential pilot program, Florida’s largest PACE financing provider, Ygrene Energy Fund, announced today that all five Miami districts have now adopted its award-winning program, YgreneWorks™. Ygrene is the nation’s leading multi-state provider of residential and commercial property assessed clean energy (PACE) financing for energy efficiency, hurricane protection and renewable energy improvements.
First introduced in June 2014 to Miami District 2 and District 4, YgreneWorks has quickly become the easiest, fastest, most affordable way to finance energy efficiency and climate resiliency home and business improvements. Since the start of the residential pilot program, Ygrene has received over 800 applications for energy efficiency and hurricane protection retrofits and has closed over $7.5 million in contracts. As a result of the program’s success, the city has expanded YgreneWorks to all Miami residents and expects to see an increase in the demand for PACE-financed projects, in addition to new job creation and economic stimulus. The need for easy access financing for climate resiliency infrastructure improvements in Miami-Dade is on the upswing as the area commits millions to sea level rise abatement projects.
Faces of PACE: Contractors, Property Owners and Elected Officials Laud Ygrene Benefits
Across the five districts of Miami, more than 45 communities in Florida and more than 240 communities nationwide, including contractors, property owners and elected officials, trust PACE pioneer Ygrene to help grow their businesses, protect their properties and address the effects of climate change.
“After successfully running a commercial and residential pilot program in two districts, and responding to multiple requests from constituents all over the City, we are excited to announce the full roll out of YgreneWorks in Miami. All property owners can now take full advantage of Ygrene’s home improvement financing.” – Tomás Regalado, Mayor of the City of Miami
“After almost 10 years without a major hurricane, Miami residents can’t continue to risk postponing climate-critical home improvements for yet another season. Within the past year, our business of installing impact resistant windows and doors has grown substantially as property owners seek peace of mind. Because of the Ygrene program, property owners can now improve their properties without having the stress and financial pressure to pay forthright.” – Javier Avila, CEO of Miami-based American Impact Window and Door
“We’re proud to be living and raising a family in the city of Miami, and excited about the opportunity to make significant upgrades to our home without having to access a personal line of credit. With YgreneWorks, we were able to install hurricane-resistant windows and doors on our house with no upfront costs, helping to improve the value of our property and also safeguard our home and family from the impact of tropical storms.” – Jessica Fernandez, Miami homeowner and satisfied YgreneWorks customer
Financing $1B in Critical Upgrades, Protecting Customers Every Step of the Way
YgreneWorks leads the industry in customer protections and in doing so, is committed to providing Miami homes and businesses with safe, flexible financing that starts with the application process and continues until the project has been completed and approved. Property owners can have confidence that Ygrene is supporting them every step of the way: that their contractor is Ygrene certified, that they will understand the terms and conditions of their financing agreement, and that they know their sensitive information is protected.
Nationwide, YgreneWorks has approved more than $1 billion in applications for over 21,000 buildings and has completed $394 million in contracts, producing more than $985 million in economic stimulus and creating 5,910 jobs. In Florida, it has financed more than 90% of all PACE projects to date totaling $61M.
“Today Miami has joined the dozens of other cities in Florida that have already chosen to adopt and expand PACE as a primary means to protect Floridians from growing energy costs, rising sea levels, more extreme weather scenarios and increased risk to property values,” said Stacey Lawson, CEO of Ygrene. “We applaud the city, and look forward to partnering with residents, contractors and property owners to make energy efficient, climate-resilient buildings a reality across the entire state of Florida.”
About Ygrene Energy Fund
Ygrene Energy Fund is the nation’s leading multi-state residential and commercial provider of property assessed clean energy financing. The award winning, privately funded YgreneWorks™ program provides immediately accessible financing with no upfront costs for energy efficiency, renewable energy, water conservation and, in certain areas, hurricane protection, electric vehicle charging stations and seismic upgrades. Ygrene is committed to making it easy for families to invest in their future and a healthier environment. Over the next five years, YgreneWorks is projected to create tens of thousands of local jobs and invest hundreds of millions into local economies.