California

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Renovate America Applauds Landmark Protection Framework For PACE Financing

California Governor Jerry Brown signs into law two bills that significantly strengthen Property Assessed Clean Energy (PACE) financing for homeowners and communities. Renovate America, the nation’s largest PACE provider, has hailed Governor Jerry Brown’s signing into law of two bills that provide a landmark regulatory and consumer protection framework for PACE. “Across 150,000 California homes, PACE has already saved enough energy to power the United States for over a day – and this legislation provides the regulatory and underwriting framework to ensure it’s a responsible choice for hundreds of thousands more homes and families,” said Ari Matusiak, Chief Strategy Officer at Renovate America.

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HERO Program Launching for 240,000 More Homes in 28 More California Communities

88,100 California households have already utilised $2.1 billion in HERO financing for energy efficiency, water conservation and clean energy upgrades. Now, more than 240,000 homeowners in 28 more California communities who want to go solar, or make efficiency-related repairs and upgrades can finance 100% of their home projects through the HERO Property Assessed Clean Energy (PACE) Program. Through HERO financing, homeowners can pay for projects with an additional line item on their property taxes. As a result, HERO financing payments may have tax benefits, and many homeowners see immediate savings on their utility bills by investing in efficiency upgrades.

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Energy Efficiency And Production: California Leads The Way

Even with the 2nd largest energy consumption and expenditure in the USA , California has some of the lowest per capita consumption patterns in the country. This; when combined with its robust renewable energy production (nearly 4000MW solar projects installed), and a more diversified energy portfolio, sees it trailblazing towards its landmark energy targets. In addition, shielding its economy from the volatility of oil prices, California provides a model that can be used nationally, as well as globally.

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Reliable, Affordable and Clean Energy: SDG&E Announces Major Contracts

San Diego Gas & Electric (SDG&E) has signed a 20MW energy storage facility agreement, capable of storing enough electricity to power 28,000 homes for up to 4 hours. The project can store supplies of solar, wind and other resources when they are abundant and inexpensive, releasing this during peak hours when customer demand is high. The company also signed an 18.5MW energy efficiency agreement. Both contracts aim to provide customers with reliable, affordable and clean energy.

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