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HomeMy WebLinkAboutPreswentation - Update on Ygrene Activities_2Klassen, Rachelle Subject: FW: Web Site Inquiry From: Christina Deville [ma iIto: christina.deviIleCa ygrene.us] Sent: Saturday, March 28, 2015 11:11 AM To: InformationMail Subject: Web Site Inquiry Hello, I represent Ygrene here in the desert and I was curious if we could participate in your Council Meeting you are holding on April 9th for 10 mins? Christina DeVille 1 (760)-501-8747 PST Regional Account Manager I www.ygrene.us https://Xgrene.us/ca/cv upgrade/home 77760 Country Club Drive Suite H, Palm Desert, CA 92211 ***Customer Care 877-819-4736 Availability 8AM-9PM PST M-F REGULAR MEETING OF THE PALM DESERT CITY COUNCIL i APRIL 9, 2015 Attached are the fliers for the Ygrene Presentation on the subject City Council Meeting Agenda. IX. AWARDS, PRESENTATIONS, AND APPOINTMENTS B. PRESENTATION TO THE CITY COUNCIL OF AN UPDATE ON YGRENE ACTIVITIES. Action: What is Clean Energy CV Upgrade and how does it work? Clean Energy CV Upgrade is a joint effort between the Coachella Valley Assoication of Governments and Ygrene Energy Fund that allows building owners to finance clean energy upgrades over the long term. The cost of the improvements is paid back over periods of up to 20 years as part of the owner's property tax bill. How does Ygrene's clean energy financing differ from other options? Ygrene offers a revolutionary way to finance clean energy projects. Key advantages to the program include: • Your personal credit score has no impact on funding eligibility or interest rate • Eligibility is determined quickly and easily through an online search with Ygrene's funding management system • Funding is paid back over a long period of time and does not carry a ballon payment • The project debt does not have to be paid off upon property sale or transfer Who can participate? Ygrene offers funding for properties within the Clean Energy CV Upgrade district and any owner whose property lies within the district can apply for financing. Single-family homes and commercial buildings of all sizes (including retail, industrial and multi -family properties) located within the district are eligible. What are Clean Energy CV Upgrade's underwriting criteria? To qualify, total property debt (including Ygrene financing and existing liens) must not exceed the building value, the owner must be current on property taxes and mortgages for 3 years and be bankruptcy -free for 3 years. The owner must have 15% equity in the property and financing can not exceed 20% of the building's fair market value. Will I save money on my energy costs? This is the program's primary goal. Achieved savings depend on several factors that may include: • Building age and condition • Remodel history • Improvements undertaken • Installation of renewable energy systems • Occupant energy behavior • Number of occupants A building energy assessment can predict the savings you're likely to realize. What happens if the property is sold? If the property is sold or transferred, the tax payment obligation may be transferred with the property to the new owner. Will the value of the energy improvements be reflected in the appraised value of my property? Property appraisers recognize energy cost savings in conducting their evaluations. While it is possible that the full cost of energy improvements may not be recognized in every case, improvements in energy performance and sustainability directly increase both appraisals and market values of the property. Ygrene Energy Fund 2013 www.CleanEnergyCVUpgrade.com Emerging technologies Photovoltaic systems (electricity) Solar thermal hot-water systems Solar thermal systems for pool heating WATER CONSERVATION r Cooling -condensate reuse Cooling -tower conductivity controllers Core -plumbing system Deionization Demand initiated hot-water system Demand water softener Faucet aerators Filter upgrades Foundation drain water Grey -water system High -efficiency toilets Hot-water pipe insulation Industrial -process water -use reduction Instantaneous hot-water heater Irrigation -control system Irrigation system Low -flow showerhead Pre -rinse spray valves Rainwater cistern Recirculation hot-water system Recycled water source Urinals Waterless urinals Whole -house water -manifold system Solar PV systems can reduce your electricity bills by up to 80%, saving you money and enabling you to produce your own energy from a clean, sustainable source. Replacing your aging or leaky roof with a cool roof that reflects the sun's heat is a long-term Improvement that can last 20 or more years. Cool roofs save you money by reducing your air conditioning demands in warmer weather. Upgrading your home's toilets, plumbing fixtures and irrigation systems can reduce your water consumption by 50,000 gallons annually. By heating only the hot water you need when you need it, demand Initiated, or tankless, hot water heaters are 25-35% more efficient than conventional systems. 15% Equity in the Property Current on Mortgage Payments for 3 Years Current on Property Taxes for 3 Years No Bankruptcy for 3 Years Minimum Finance Amount of $2,500 Additional building openings for natural light Air filtration Air sealing and ventilation Attic, floor, walls, roof, ducts Bathroom, ceiling, attic, and whole -house fans Building envelope Classroom lighting Cool roof Defect correction Evaporative coolers Geothermal exchange heat pumps HVAC systems Insulation Kitchen exhaust variable air -volume controls Lighting (fixture retrofits only) Natural gas storage water heater Occupancy -sensor lighting fixtures Pool equipment Reflective insulation or radiant barriers Refrigerator case LED lighting Sealing & duct leakage Skylights SMART parking -garage bi-level fixtures SMART parking -lot bi-level fixture SMART pathway lighting SMART wall -pack fixtures Solar tubes Solar water heater system Tankless water heater Task ambient office lighting Weather stripping Window filming Windows and glass doors Wireless daylight -lighting controls Wireless HVAC controls & fault detection Building energy -management controls Co -generation (heat and energy) Emerging technologies Fuel cells HVAC duct zoning -control systems Hydrogen fuel Industrial equipment, motors and controls Irrigation pumps and controls Lighting controls Natural gas Other fuel sources Wind -turbine power system One of the largest PACE projects in the United States. More than $3M financed, resulting in a 11% reduction in annual energy savings Sacramento Metro Center, SACRAMENTO, CA Chiller, Cooling Tower & Water Treatment System At the time, the retrofit for the Sacramento Metro Center was the largest PACE project in United States history. More than $3 million was financed, resulting in $140,000 in annual energy savings —a 27 percent reduction. About Ygrene WorkSTM Ygrene provides 100% financing for energy efficiency, renewable energy and water conservation projects. Financing is repaid over the long term via a special tax on your property tax bill. Because the transaction has no effect on your capital budget, it doesn't affect your credit outlook. You can enjoy the many benefits of high performance buildings, while allowing your energy improvement projects to pay for themselves. Increase the value of your property, save energy and create a safer and healthier environment —let Ygrene Works-" work for you. ' Ygrene Energy Fund, in, 2015 All Rights Reserved. V Improve Energy Efficiency V Leverage Off Balance Sheet Capital V Enhance Property Value V Maximize Net Operating Income (NOI) Boost Occupancy and Lease Rates with a "Green Building" AND MORE Warehouses Light Industrial VEnjoy Non -Recourse Financing • Flex Space Power Plants • Mills Agricultural Retain capital and finance 100% of eligible improvements Improve property cash flow and improve value with no cash outlay No personal guarantees, covenant requirements, term adjustments or review of financials to qualify If the property is sold, the tax assessment moves with the sale to the new owner The option for off balance sheet, tax -based financing can result in improved tax treatment Special tax assessment may be passed through to tenants to avoid the split incentive of these improvement costs Because the special assessment appears on the property taxes, you may be able to expense the entire amount, including the principal and interest No more than one 30-day Late Payment on subject property mortgage in the last 12 months or term of ownership, if less, and must be current at approval No Notice of Default for three years on subject property No open involuntary liens or judgments on the subject property No delinquency on property taxes for last 12 months and, owner attestation that taxes were current for previous two years No property owners currently in bankruptcy for last year No Energy Audit with Benefits -to -Cost Ratio > 1 for related energy projects Vgrene Energy Fund. Inc. 2015 All R-0hts Reserved. 100% HOME UPGRADE FINANCING City -endorsed financing available through your local clean energy district. WHY YGRENE? O $0 down' © Lowest monthly payments © No impact on credit score 0 Interest may be tax deductible © No payments up to 12 months3 100% Financing, $0 Down Financing covers all of the installed costs associated with your project. No down payment, period. Lowest monthly payments Terms up to 20 years mean lower payments (and more money in your pocket). And the interest may be tax deductible,2 lowering your effective interest rate and monthly payment even further. Finance up to 10% of your home's value Finance projects up to 10% of your home's value if you have at least 15% equity. Minimum finance amount is $2,500. Example: If your home is valued at $300,000 and you have no more than $255,000 in debt on the property (at least 15% equity), you can finance improvements worth up to $30,000, or 10% of the total value. Payments Made Along with Property Taxes Payments show up as a line item on your property tax bill. Payments transfer upon sale in most cases, so you can pass the remaining payments on to the new owner if you sell your home. Increase Your Property Value Improvements to your home increase its value, and energy improvements increase it even more. According to The Appraisal Institute, "energy -efficient homes have higher values and sell for more than their non -energy efficient neighbors" Make a Difference Finally, a way to make a significant positive impact to reducing greenhouse gas emissions and improving our environment. Beautify your home Show off your homeownership pride while making your family's living environment more comfortable and clean, all while enhancing the beauty of your home. ]. $50 application fee can be financed as part of the proect. 2 Ygrene cannot provide accounting advice: consult your Certified Public Accountant and tax advisor. .3. Depends on timing ofproject completion. Does not change due date of property tax hill. 4..Some other eligibility requirements may apply. Three Easy Steps! Choose a Sign Complete your contractor Financing project & receive & apply Documents payment Q: Who is Ygrene and how is my city involved? A: Your city or county have partnered with Ygrene to offer this PACE financing program to assist you in improving your property while also helping to improve the environment and local economy. Ygrene administers the program and provides financing via a public -private partnership, while payments are collected along with your property taxes through your local government. Q: How does Ygrene Financing compare? A: Ygrene Financing doesn't affect your credit, and has the lowest monthly payments compared to other financing options. The interest on the financing amount is tax deductible, lowering your monthly payment further.2 And if the property is sold, the remaining payments can be transferred to the new owner. Q: Does this impact my credit? A: No. Unlike other financing options, your eligibility is not based on your personal credit score, and the amount you finance through Ygrene won't affect your available credit for life's other purchases, like a new vehicle. 0 .:...........1 i ENJOY! Q: What kinds of projects are eligible? A: Any energy -saving or renewable energy -producing improvement that is permanently affixed to the property is eligible for funding through Ygrene. Eligible project groups include energy efficiency retrofits, water conservation measures, and renewable energy generation systems. Q: How do I know if I'm eligible? A: To be eligible you must be current on your property taxes and mortgage payments (with no late payments in the last 12 months) not currently be in bankruptcy, and have at least 15% equity in your home.4 Talk with your contractor or visit us online to check your eligibility today. Q: How much can I borrow? A: The maximum amount you can borrow is 10% of your home's value. The minimum financeable amount is $2,500. w, r Ygrene Energy Fund (grene Phone: (877) 819.4736 www.ygrene.us O� Ygrene Energy Fund 2014. All Rights Reserved yE F 1,1001 „q Ygrene leads the industry as the only financing provider to offer full cash purchase, solar pre -paid lease (PPG's), pre -paid power purchase agreement (PPG's - available in CA only) and solar combo loan PACE financing products. Ygrene puts the plays in your playbook to help contractors and property owners find the best financing option for their needs. The winning combination of the PPUs and PPA's low purchase price coupled with Ygrene's industry leading tax deductible financing is a win -win -win. HOW IT WORKS • PRE —PAID LEASE OPTION ENJOY THE SELECTED SAVINGS APPLY WITH YGRENE LEASING COMPANY ' PAYS CONTRACTOR t ® e YGRENE PAYS 11 LEASING COMPANY LEASING COMPANY PROPERTY APPROVES INSTALL OWNER) Two loans in one! This is the ideal product for a customer that wants to purchase their solar system and can capture their Investment Tax Credit (ITC). YGRENE SOLAR COMBO LOAN ONE — ITC This loan is written for the amount of the project's ITC (30% of the project cost or $25K, whichever is less). The loan can be paid off without any pre -payment penalties for the life of the loan, only $100 in fees and featured at the Ygrene market interest rate. YGRENE SOLAR COMBO LOAN TWO — REMAINDER This loan offers the same terms and pre -payment penalties and is featured at the Ygrene market interest rate plus 50 bps, e.g. 8.5% rate is 9.0%. Example $40,000 ► Total Project Cost $12,000 ► Combo Loan One to finance ITC portion $28,000 ► Combo Loan Two for remaining balance Ygrene Solar Combo Loan Comparison - Ygrene Wins ------------ .. Solar System Cost $30,000 Competitor Competitor Ygrene ITC Loan A Ygrene Loan B Loan A - 18 mo's Loan B Loan amount $9,000 $21,000 $9,000 $21,000 Origniation Charge 3`Ya 3% 8% 16.5% Origination Fee $270 $630 $720 $3,465 Cap interest $550 $725 $0 $0 Program Fee $100 $700 $0 $0 Total by Loan $9,920 $23,055 $9,720 $24,465 Total Cost For Both Loans $32,975 $34,185 Monthly Payment Comparison - Ygrene Wins Ygrene 10 Year Ygrene 20 Year Competitor 12 year term Rate 7.63% 9.00% 2.99% Payment $279 $211 $202 Effective Payment: Interest Only Deduction $248 $171 $202 Effective Payment: Full Tax Deduction $182 13% $202 Additional PACE Financing BLnefits Ygrene Customer service - Docs-and-Done in 30 minutes 11 x Home owner pre -approval Gets you to leads that con purchase V x No in -home credit check gamble. No proof of employment required J x No Impact on credit score - Get solar and get the new car J x Loan stays with property - not property owner J x Doesn't expose your customer to credit card interest rates if they can't pay off the ITC loan if x No payments on Loan B for up to 18 months so they get the benefits of the solar savings J x 20 year term delivers the lowest monthly payment that helps you close sales V x Mello -Roos accessment enables tax deduction J x Ygrene's full suite of PACE solar financing products is an industry game changer. Property Assessed Clean Energy (PACE) financing is offered by Ygrene in conjunction with your local city or county. The loan is repaid on your tax bill and that's great news. It can defer your first payment 12 months or more and offers the potential for powerful tax deduction savings! Ygrene offers 100% financing with zero money required out of pocket. Because the loan is based on your property value, no credit score required, no proof of employment and there is not affect to your total available credit. With all of these benefits and more, there's never been a better time to upgrade your property and win with Ygrene. Ygrene 2014 All rights reserved