Monthly Archives: June 2014

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MEDIA RELEASE
FOR IMMEDIATE RELEASE

 

CONTACT: Ryan Ahearn, Figtree Financing
rahearn@figtreefinancing.com
Direct: (858) 771-0896

 

(San Diego, June 30, 2014)Helping to establish the pace when it comes to innovative commercial financing, Figtree Financing recently contributed to “Setting the Pace 2.0: Financing Commercial Retrofits,” a new white paper from the Institute for Building Efficiency, an initiative of Johnson Controls. Figtree Financing, a San Diego-based clean energy financing company, was the only private PACE company that contributed to the paper.

The Figtree OnDemandPACE™ Program provides PACE, or Property Assessed Clean Energy, financing to help commercial property owners improve their properties and lower their utility bills with energy efficiency, renewable energy and water conservation upgrades. Property Assessed Clean Energy is a new form of financing that provides property owners with up-front capital to improve their properties with energy efficiency, renewable energy and water conservation upgrades based on property values – up to 20% of a property’s value.

In the white paper, the Figtree program, which includes 23 completed projects worth $2.4 million, was highlighted as one of the four leading PACE programs.

Based on more than 30 interviews with market leaders, “Setting the Pace 2.0: Financing Commercial Retrofits” focuses on the growth of PACE financing in the commercial sector, recent changes in PACE programs, the direction the marketing is taking, as well as notable successes and challenges. More than 250 PACE projects have been completed worth more than $75 million. In particular, the industry saw dramatic growth from 2011 – when commercial PACE projects had been funded in just five jurisdictions in California and Colorado – to 2013, with financing available in nearly 500 locations across nine states (and the potential to quickly expand to 31 states) and the District of Columbia.

Advantages of PACE financing include lower energy costs, increased building values, accessible capital with zero up-front cash investment, long-term financing, immediate positive cash flow and more. Key challenges center on the availability of PACE financing and the extent to which building owners and contractors are aware of this option. While wide-scale adoption will take several more years, significant opportunities in the PACE market will continue to bolster the growth of this financing opportunity.

Future success will rely on more streamlined financing processes, strong sales and education efforts to support lead generation and project origination, clear leadership and incorporation of PACE into the current real estate system.

The full report can be found at PACENow.org, Setting the Pace 2.0: Financing Commercial Retrofits.

About PACE: Property Assessed Clean Energy is a new form of financing that provides property owners with up-front capital to improve their properties with energy efficiency, renewable energy and water conservation upgrades based on property values – up to 20% of a property’s value. Figtree PACE financing is available for commercial, industrial, office, retail, multi-family properties of five or more units. PACE requires no money down and provides for attractive financing that doesn’t impact a property owner’s credit score or capacity to borrow for other business needs.

About Figtree:  Figtree Financing is a San Diego-based clean energy financing company providing innovative programs to enable capital for environmentally friendly products and services. The Figtree OnDemandPACE™ Program provides PACE (Property Assessed Clean Energy) Financing to help commercial property owners improve their properties and lower their utility bills with energy efficiency, renewable energy, and water conservation upgrades. Figtree Financing has successfully funded millions of dollars of property improvements with commercial PACE Financing. Learn more by calling 1-877-577-7373 or visit us at www.figtreefinancing.com.

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