Commercial, Energy Efficiency, Energy Procurement, Commercial, Finance, Sourcing Renewables  -  May 6, 2016

Palm Springs approves entry of clean energy financing program for city property owners

The city of Palm Springs, Calif., recently voted to participate in new program — called CaliforniaFIRST — that will provide financing for thousands of property owners for environmentally friendly energy upgrades that are then repaid on property taxes.

The program, administered by Renew Financial, is a public-private partnership offering financing options to residential and commercial property owners  for renewable energy and energy efficiency upgrades, as well as water efficiency measures, and electric vehicle charging infrastructure with no out-of-pocket costs, according to a May 6 news release. CaliforniaFIRST is a type of property assessed clean energy, or PACE, financing, which has been adopted by more than 200 cities and counties across the state. 

The city council approved the program's implementation via a resolution dated May 4. 

"The city of Palm Springs is committed to a sustainable community and we are delighted this new program will now be available to help residents and businesses finance solar energy while helping the environment," Geoff Kors, Council member for Palm Springs, said in a statement. 

Read These Related Articles:

• Growing trend: Zero-down financing for energy efficiency, climate resiliency upgrades
• Commercial PACE financing gathers steam, increases upgrade feasibility
• Michigan manufacturer utilizes PACE to save $1.6M
• Calif. utility recognizes C&I customers for efficiency
• Case study: Medline's 1st North American solar project