SANTA ROSA, Calif. and MIAMI, Oct. 15, 2015 /PRNewswire/ -- Ygrene Energy Fund Inc., Florida's leading property assessed clean energy (PACE) provider and national provider of residential and commercial PACE financing, commends today's decision by the Florida Supreme Court to uphold the constitutionality of the PACE statute in Florida. As Florida takes a proactive stance to mitigate extreme weather events, rising sea levels and volatile energy prices, privately funded Ygrene PACE financing provides an easy and simple way for property owners to obtain funds. Updates ranging from energy efficient windows and doors to large environmental retrofits such as seawall reinforcements make the state more resilient in the face of climate and resource risks.
Ygrene is the only PACE provider in Florida to reach scale with over $50M in project contracts. Since its inception, Ygrene has approved $537M in funding nationally for upgrades to the built environment. This financing produces over $1.34B in economic stimulus, 8,000 new and sustained jobs and 34MW of energy as well as saving 644,000 metric tons of CO2 and enough energy to power 530,000 homes for a full year.
In partnership with Florida cities like Miami, Hollywood and Coral Gables, Ygrene's Clean Energy Green Corridor program provides 100% financing with zero out of pocket costs for residential, commercial and agricultural property owners to deploy energy efficiency and hurricane protection improvements. Currently approved in over 150 cities and counties across Florida, California and Georgia, Ygrene is a leading multi-state provider of residential PACE financing and the largest commercial PACE originator in the U.S.
"Today PACE in Florida has been validated at the highest level. This ruling is a win for Florida, for its residents and its local businesses and contractors, and the many cities who have been eagerly awaiting this decision," said Ygrene President & CEO, Stacey Lawson. "We're excited to continue our work in Florida as the state fortifies itself against climate change and rising energy prices."
The Supreme Court of Florida ruling was based on Florida Bankers Association v. Florida Development Finance Corporation.
About Ygrene Energy Fund
Ygrene Energy Fund is a leading residential and commercial provider of clean energy financing throughout the United States. The award winning, privately funded Clean Energy Green Corridor program provides immediately accessible financing with no upfront costs for energy efficiency, renewable energy and hurricane protection. Ygrene is committed to making it easy for families to invest in their future and a healthier environment. Over the next five years, Clean Energy Green Corridor is projected to create tens of thousands of local jobs and invest hundreds of millions into local economies. Learn more at Clean Energy Green Corridor.
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SOURCE Ygrene Energy Fund