Los Angeles County and Structured Finance Associates, LLC Announce a $6.9MM PACE Bond Funding for the d2Dusit constance pasadena in Pasadena, CA

A $6.9MM PACE Bond issued by the Los Angeles County and funded by Structured Finance Associates LLC will finance the renovation of the d2Dusit constance pasadena hotel in California.

PACE financing for the d2Dusit constance pasadena is an example of the use of a new and valuable financing tool property owners can utilize in upgrading and/or the redevelopment of existing properties.

Los Angeles, CA (PRWEB) July 21, 2014

Structured Finance Associates, LLC is pleased to announce the origination, structuring and funding of a PACE bond with Los Angeles County in the amount of $6,860,000 for the d2Dusit constance pasadenalocated in Pasadena, California.

“We are pleased to have the chance to work with the owners of the d2Dusit constance pasadena , K2 Clean Energy Capital, the County of Los Angeles, Sustento Group and PACENow to make this financing possible. PACE financing for the d2Dusit constance pasadena is an example of the use of a new and valuable financing tool property owners can utilize in upgrading and/or the redevelopment of existing properties. We look forward to the working with commercial property owners throughout the Los Angeles area to assist them in improving the value of their properties while creating jobs and improving our environment,” said Jean Dunn, CEO of Structured Finance Associates, LLC

The d2Dusit constance pasadena project is the renovation of the original Constance Hotel built in 1926. The PACE bonds issued provided long-term fixed rate financing for the installation energy efficiency improvements including new HVAC and controllers, LED lighting, elevator motors and controls, window treatments, water systems, and insulation within the renovated hotel. These improvements are estimated to save 207,488 kWh per year in electricity usage and reduce water consumption by 3,200,000 gallons.

“The PACE financing provided a significant piece of the capitalization of the project, enabling the owners to take advantage of long-term fixed rate financing for energy efficiency improvements. These improvements will allow the d2Dusit constance pasadena hotel to increase their operating cash flow and the corresponding value of the property” said Jonathan Pickering of K2 Clean Energy Capital, who were engaged by Singpoli Pacifica, LLC to develop the PACE project.

“PACE financing for the d2Dusit constance pasadena marks another significant step forward in the development of PACE within Los Angeles County. We are pleased that Structured Finance is part of the Los Angeles County PACE program and look forward to working with them on additional projects,” said Howard Choy, General Manager of the Office of Sustainability for the County of Los Angeles. Read more.

As Clean Energy Goes Mainstream, Leadership Is Squarely Focused On States and Cities

The recently released 2014 U.S. Clean Tech Leadership Index from Clean Edge, the research and advisory firm where I am senior editor, finds the U.S. clean-tech market making impressive strides in many areas, while still hampered by inaction and inertia in others. As has been the case in recent years — even with encouraging national-level initiatives from the Obama administration — states and cities continue to be where most of the action is.

Over the past year, supportive policies and aggressive technology deployments from Connecticut to California have made climate and clean-energy related technologies, in particular residential and commercial solar PV, an increasingly popular choice for mainstream America. According to this year’s Index, eleven states generated more than 10 percent of their electricity from clean-energy sources (not including hydro) in 2013, with two, Iowa and South Dakota, exceeding 25 percent. At least eight states now have more than 50 percent smart-meter market penetration, with California topping 70 percent. Registrations for all-electric vehicles, led by the Nissan LEAF and Chevy Volt, more than doubled between the 2013 and 2014 indexes, to nearly 220,000 cumulative registrations nationwide. And 14 states — among them Georgia, North Carolina, and Pennsylvania – are each now home to more than 500 LEED-certified commercial green building projects.

On the policy front, leading states and metro areas continue to make climate action and clean-energy expansion a priority. Nearly 30 states offer some form of property assessed clean energy (PACE) legislation, 19 have specific greenhouse gas reduction targets, and 10 operate or are members of active cap-and-trade carbon markets. Net-zero or near-zero energy mandates for buildings, green banks and other effective financing mechanisms, and the nation’s first energy-storage mandate in California are just a few policies implemented in the last 12 months that will drive the future clean-tech growth tracked by the Leadership Index. Read more.

PACE in NY: Property owners in Binghamton can now upgrade their buildings using PACE financing!

Binghamton, NY (WBNG Binghamton) An increase in energy efficiency could be coming to businesses in the Binghamton area.

New York State Assemblywoman Donna Lupardo (D) hosted an informational seminar Thursday afternoon regarding the Property Assessed Clean Energy program.

The program looks to provide long-term, low interest loans for renewable and energy-efficient conservation projects.

The projects, over time, can be paid back on tax bills and transferred to new owners when the properties are sold.

Speakers from the Energy Improvement Corp. said these projects will not only create renewable energy, but more jobs as well. Read more.

PACE in NY: Orange County Launches a PACE program

Press Release from Orange County Executive, Goshen, NY – The launch of Energize NY in Orange County was announced by County Executive Steve Neuhaus at the OC Chamber of Commerce breakfast in Middletown recently. In his July 10 remarks, Neuhaus explained that the launch of Energize NY in Orange County, the first county in New York State to adopt the program, would help commercial property owners directly address rising operating costs by providing critical support, tools, and long-term financing to implement clean-energy upgrades for their buildings. Watch the launch announcement of Energize NY in Orange County here.

 Energize NY services are immediately available to Orange County commercial property owners looking to invest in clean-energy projects that will reduce their energy costs. Projects eligible for financing include solar PV (electric) arrays, high-efficiency lighting, upgrades to HVAC systems, air sealing, and insulation to reduce electricity and primary fuel load through an existing New York State Energy Research and Development Authority (NYSERDA) or utility program.

Orange County gained access to Energize NY and its resources by becoming a member of the Energy Improvement Corporation, a New York State Local Development Corporation (LDC) formed to take advantage of a 2010 state law that enabled long-term, low-cost energy efficiency and renewable energy project finance
through an innovative mechanism called Property Assessed Clean Energy (PACE).

“Becoming a member of the EIC and gaining access to no-cost support for commercial property owners puts the county in a great position to help individual property owners as well as the greater business community,” said Neuhaus. “Whenever we can help make businesses more economically and environmentally sustainable, while enhancing their ability to increase profitability, it’s a win-win for everyone.” Read more.

Energize NY Finance Qualification Training for Solar Installers

Lower Hudson Valley Solar Installer Workshop and Energize NY (PACE) Finance Qualification Training

Eventbrite Registration link

Tuesday, July 22nd, 2014    9:00 am – 4:00 pm

Sustainable CUNY, through it’s NYSolar Smart program, is holding the Lower Hudson Valley Solar Installer Workshop. This workshop will include presentations from Sustainable CUNY, NYPA, Con Edison, Orange & Rockland, Westchester Solar Initiative, NYSERDA, Energize NY, and municipal representatives from White Plains and Yonkers. NYSolar Smart is supported by the NY-Sun Initiative and the Department of Energy SunShot Initiative Rooftop Solar Challenge II.

This workshop is recommended for New York solar installers or solar installers interested in entering the New York market. Energize NY will be providing a PACE finance qualification training for interested installers who develop solar projects for commercially-owned properties.


New York Power Authority, Jaguar Room 123 Main St., White Plains, NY 10601

Pre-Registration is Required

Workshop is complimentary, but space is limited!

The Energize NY training will be in the afternoon. We encourage you to bring several members of your team.

Renovate America Closes $50 Million Equity Investment

San Diego, Calif., July 16, 2014 – Renovate America, the leading provider of residential PACE Financing in the U.S., today announced it raised $50 million in growth equity from new and existing investors.  Valor Equity Partners led the round, which also included Macquarie, RockPort Capital and Spring Creek.  Renovate America partners with local municipalities to provide the HERO Financing Program to property owners, who in turn use the program to finance a wide variety of products to lower utility bills including: solar power; energy efficient HVAC, windows, roofing; and water-saving products such as artificial turf.  The company has financed over $250 million in HERO residential energy efficient improvement projects to date which are estimated to save homeowners $5300 million in lower utility bills.

“HERO has helped thousands of homeowners invest in their home to save energy and water,” said JP McNeill, CEO of Renovate America. “We are fortunate to partner with over 165 cities and counties who have made HERO available to their constituents.  In addition to helping homeowners save millions of dollars, HERO is helping communities create thousands of local jobs, lower mortgage foreclosures, stimulate local economies and lower emissions.  This additional equity investment will enable us to bring HERO to more cities and counties.”

HERO is made possible by PACE legislation that provides an innovative way for property owners to finance energy- and water-efficiency improvements through their property tax payments.  Borrowers can choose the term of their loan (5-20 years), and interest on the payments is tax deductible. Additionally, PACE assessments can transfer to the new owner when the property is sold in most cases.

Renovate America provides funding, administration, technology, training, customer support and a full service call center that assists contractors and property owners with the application and approval process.  The company’s software platform provides homeowners an easy way to submit applications and fill out all the necessary paperwork and documentation.  HERO Protect, provides all customers with consumer protections to ensure homeowners are satisfied. HERO Pro, assists contractors with estimating and document processing. In addition, HERO Gov provides municipal leaders a new way to track the number of projects, energy savings, environmental impact, and local jobs created in real-time.

“The HERO Program offers comprehensive services that combines funding, software and consumer protections,” said Scott McKinlay, Executive VP at Renovate America. “That combination of services makes home improvements available to more property owners more safely and affordably than ever before.”

HERO has been adopted by more than 165 California cities including San Diego, San Jose, Riverside, Anaheim, Fresno, and San Bernardino, among others. The program has financed more than $250 million in projects and created more than 2,300 jobs since it launched in December, 2011.

The HERO program has received more than 10 awards nationally including the Governor’s Environmental and Economic Leadership Award in California, the Urban Land Institute Best of the Best, and the Southern California Association of Governments President’s Award for Excellence. To learn more about HERO visit www.HEROProgram.com or call 855-HERO-411 (855-437-6411).

NYSERDA Announces Partnership to Bring Clean Energy Financing Program to New York State

Energy Improvement Corporation and NYSERDA Partner to Enable Commercial PACE Financing to Channel Low-Cost Capital to Fund Clean Energy Projects Across New York State

July 15, 2014

The New York State Energy Research and Development Authority (NYSERDA) has announced a new partnership that will expand innovative clean energy project financing to all of New York State for commercial, industrial and multifamily buildings to help them become more competitive and cost effective by decreasing their energy costs.

Through the partnership, NYSERDA is providing approximately $1 million to the Energy Improvement Corporation (EIC) to jumpstart its Energize NY Finance program in the State over the next two years. The Energize NY Finance program uses Commercial Property Assessed Clean Energy Finance (PACE) and property tax laws to provide long-term, market-rate financing for clean energy commercial and multifamily building improvements. Combining this innovative financing mechanism with community outreach helps to overcome the two most significant barriers to expansion of clean energy projects – lack of market knowledge and lack of financing capital.

“New York State businesses now have access to another innovative financing option, as the State transforms markets and removes barriers to clean-energy project development,” said John B. Rhodes, President and CEO, NYSERDA. “This program dovetails with other financing programs such as the NY Green Bank, and will make energy-saving projects more affordable for business owners and drive increased investment in clean energy.”

Energize NY financings provide up 100 percent of the cost of a clean energy upgrade and offer fixed rates and long-terms to qualified properties. Financings are repaid over time through the improved property’s local property tax bill. Similar to a sidewalk improvement or façade improvement district, capital provided under the Energize NY financing is secured by a property tax lien on the property, so capital can be raised from the private sector with no government subsidy.

Energize NY Finance is available statewide. Currently, Orange County and 12 towns and cities in Westchester County have passed the required local law with 20 more counties and cities in Western New York, Central New York, Capital Region, Long Island and Mid-Hudson working towards passage.

Funding will be used over the next two years to promote the program, build a pipeline of projects and spur participation by other municipalities and counties. After that, EIC is expected to use future revenue generated from Energize NY Finance to support its programs. Municipalities interested in becoming an EIC member or property owners interested in participating, please call 914-302-7300. Find out more at Commercial.EnergizeNY.orgLink opens in new window - close new window to return to this page..

EIC is a not-for-profit local development corporation that works in partnership with municipalities and other stakeholders to transform the market for comprehensive clean energy upgrades. EIC is partnered with Bank of America Merrill Lynch and First Niagara to provide capital and the NY Green Bank has issued a letter of credit to support EIC’s bonding activities.

With this initiative, New York’s role as a leader and first mover in shaping the future of energy remains firmly in place. By developing innovative market solutions, the State is delivering on Governor Cuomo’s commitment to transform the energy industry into a more resilient, clean, cost-effective and dynamic system. Working with State, citizen and industry-stakeholders, the way of doing business in New York is moving to a more market-based, decentralized approach. This means preserving the environment, decreasing energy costs, and creating opportunities for economic growth for current and future generations of New Yorkers. In advancing these new energy systems and solutions, New Yorkers will have improved energy affordability and efficiency without sacrificing the ability to live in a cleaner, resilient and more sustainable environment. Read more.

PACE in CA: San Diego County launches green loan program

Posted: Thursday, July 10, 2014 7:47 am

Local officials announced Wednesday the launch of a loan program that aims to reduce energy and water usage and help consumers save money.

The county’s Property Assessed Clean Energy (PACE) program eliminates the upfront costs for many energy- and water-efficiency improvements while reducing the operational expenses of owning a home, said officials.

The financing is offered by HERO, a program operated by San Diego-based Renovate America. PACE loans approved through HERO and other lending programs are repaid through property tax assessments, providing an additional option for homeowners looking to finance energy-related upgrades.

“The PACE program is a win-win for consumers and our environment,” said San Diego County Supervisor Dave Roberts as a press conference. “Homeowners will have a wide range of energy-saving products available to them — including solar panels — and will be able to pay for them on their property tax bill.” Read more.

24 additional CA jurisdictions launch residential HERO program

SAN FRANCISCOJuly 9, 2014 /PRNewswire/ — In an effort to combat the drought and help residents reduce energy use, 24 additional California communities launched the HERO program today: the cities of ArcadiaAtwaterBarstowBellflowerCosta MesaDelanoEl CajonEscondidoHuntington BeachLaguna HillsMammoth LakesMenlo ParkModestoMontereyOakdaleRidgecrestSan DiegoScotts ValleyTracy,Vacaville, and Waterford; and the counties of MercedMono, and San Diego. They join more than 150 other California jurisdictions that have an active HERO program or plan to launch HERO later this year.

The HERO program enables homeowners and commercial property owners to pay off energy- and water-efficiency improvements through their property tax bill. HERO is the top residential Property Assessed Clean Energy (PACE) financing program in California, with more than $250 million worth of projects funded. Since launching in December 2011, HERO has created 2,400 jobs in the construction sector around the state, and those numbers are expected to grow as the program expands. Read more.

PACE in CT: Tecogen Provides CHP Systems for Connecticut YMCAs

WALTHAM, Mass., July 9, 2014 /PRNewswire/ — Tecogen Inc. (NASDAQ: TGEN) today announced the sale of combined heat and power (CHP) systems to YMCA facilities in Meriden and Milford, Connecticut. The systems will supply 60 kW of electricity to each facility, while simultaneously providing hot water for building heating, domestic hot water, and pool heating.

The Meriden YMCA project is supported through the Connecticut Property Assessed Clean Energy (C-PACE) program, an innovative program that is helping commercial, industrial and multi-family property owners access affordable, long-term financing for smart energy upgrades to their buildings. The project was also assisted by the Connecticut Clean Energy Finance and Investment Authority (CEFIA), a “Green Bank” that uses public resources to attract and deploy capital investment in clean energy projects.

By installing the Tecogen CHP system, an estimated savings of $35,000-$40,000/year will be realized by each facility. In addition, CO(2) and other harmful criteria pollutants (CO, NOx) will be reduced with the Tecogen Ultra emissions system option, which is available on all Tecogen CHP systems. Learn more.