FINANCING FOR COMMERCIAL SOLAR AND ENERGY EFFICIENCY
The City and County of Santa Cruz are participating in the CaliforniaFIRST program, the nation’s largest commercial Property Assessed Clean Energy (PACE) initiative.
According to the U.S. Department of Energy, the program has the potential to cut commercial energy use by 25%. This would save more than $10 billion in energy bills and create nearly 25,000 jobs in California. To find out more about how you can bring energy efficiency upgrades to your business with low-cost, long- term financing, visit the CaliforniaFIRST website
For years, lack of financing has been a big hurdle for Businesses to invest in energy efficiency upgrades and renewable energy. The CaliforniaFIRSTprogram provides the help companies have been waiting for. This innovative public-private partnership allows commercial property owners to use municipal bonds to finance energy efficiency, water efficiency, and renewable energy upgrades. Owners then repay the funding through a special assessment on their annual property tax bill.