Go Green Financing Program

The California Public Utilities Commission authorized the California investor-owned utilities to collaborate with certain state agencies in the development of energy efficiency financing programs and to assist in building awareness about them. Consumers are encouraged to explore lending options for the financing of energy improvements that can make homes and businesses more efficient and comfortable.

Using the Go Green Financing website, residential, small business and multifamily housing users can find financing, find a contractor, and find out more about public assistance programs for energy improvement, energy efficiency, home appliances, and other improvements.

Property Assessed Clean Energy (PACE) Financing

Property Assessed Clean Energy (PACE) is a type of financing used to fund property improvements associated with energy and water conservation in homes and businesses. Typical improvements financed through PACE include installation of energy efficient appliances and lighting, renewable energy systems, insulation, and water efficient plumbing fixtures. PACE differs from traditional lending by basing loan criteria on the equity in the building rather than the credit-worthiness of the building owner. Loans are repaid via an annual assessment on the owner’s property tax bill.

Learn more about Bay Area PACE offerings from the Local Government PACE Portal, supported by the Association of Bay Area Governments.

CSCDA Open PACE

The California Statewide Communities Development Authority (CSCDA) launched the Open PACE Program to prequalify residential and commercial PACE program administrators.

The following list of PACE providers were authorized by the City of Fremont prior to the launch of CSCDA's Open PACE program. All PACE providers participating in CSCDA's Open PACE Program and/or listed below are authorized to offer their services within the City of Fremont.

Residential PACE Programs

• Home Improvement Financing: Administered by Renew Financial.
• PACE Financing: Administered by Home Run Financing.
• FortiFi: Formerly known as Energy Efficient Equity.
• HERO: Administered by Renovate America.

Commercial PACE Programs

• AllianceNRG: Administered by CounterPointe SRE
• Dividend Finance: Formerly known as Figtree OnDemandPACE
• Structured Finance: Administered by Structured Finance Associates

What Makes PACE Financing Different?

• PACE provides 100% upfront financing for qualified energy upgrades
• The repayment obligation for the PACE assessment stays with the property if it is sold
• Allows owner to finance improvements while incurring no additional debt on a property
• Allows projects to be cash flow positive from the outset because the financing offered is relatively low cost and payable over an extended period of time (up to 20 years); this means that the energy savings can more than offset the property tax increase
• Can help to improve attractiveness of home or building, including better indoor air quality and comfort

Additionally, for Businesses

• Security of the tax lien allows building owners, who often lack investment grade credit ratings, to access third party financing for energy upgrades
• Using property assessment preserves capital and credit line for core business investments
• PACE assessments qualify as an operating expense under most triple-net lease agreements. This means payments (as well as the energy savings) can be passed along to tenants.