Ygrene Energy Fund Florida, the state’s leading provider of building upgrade financing for commercial and residential property owners, recently announced the approval of its first commercial building upgrade project in the Town of Cutler Bay.
The office building, owned by Choice One Companies-Ed MacDougall, mayor of Cutler Bay, will soon be generating its own power with a 25-kilowatt solar electric system.
Through the property assessed clean energy (PACE) financing model, Ygrene enables commercial and residential property owners to overcome the financial hurdles associated with building renovations, including hurricane protection measures, renewable energy systems and energy efficiency upgrades. Ygrene financing requires no upfront costs and is repaid through annual property taxes for a period of up to 20 years.
Unlike traditional debt financing options, the financing is bound to the property rather than the individual or business and can transfer with a change in ownership, much like property taxes. Additionally, eligibility is based primarily on property value and equity, rather than credit score.
“The idea of ‘going solar’ without spending a dime up front was a no-brainer for our company,” said Marcos Fullana, broker with Choice One Real Estate. “Ygrene financing was exactly what we needed to bring our renewable energy dreams to life, and we’re excited to showcase our new solar rooftop to the community. This building will be powered by the sun, how cool is that!”
Ygrene financing covers hundreds of improvements, from renewable energy systems to hurricane protection measures to energy-conserving air conditioner units. Property owners can visit CleanEnergy- GreenCorridor.com, where they can input a home or business address to receive an instant pre-qualification amount and apply for financing.
South Florida Energy Savers, in partnership with Cutler Bay Solar Solutions, a solar contractor located in Palmetto Bay, has created a unique partnership to serve the solar needs of this community.
With a dedicated sales/design team and access to the most efficient products on the market South Florida Energy Savers has quickly become the No. 1 qualified solar contractor in the tri-county area. With over twenty five residential and commercial projects under way currently South Florida Energy Savers is a Ygrene-certified contractor and will manage the system installation process.
“From a fuel-efficient fleet to LED lighting, Choice One is a sustainability pioneer in the Cutler Bay community — a tradition we’re proud to help them strengthen with the addition of a renewable energy system,” said Raul Vergara, owner of Cutler Bay Solar Solutions in partnership with South Florida Energy Savers.
“This building can expect to see a 70 percent reduction in energy usage, as well as a significant reduction in carbon footprint,” he added.
“This project demonstrates the flexibility of our financing to meet each property owner’s needs,” said Joe Spector, vice president of operations for Ygrene Energy Fund Florida. “We commend Choice One for reigning in their energy use — and their energy bills — and serving as a role model to their community.”
Ygrene financing is available to property owners in the cities of Cutler Bay, Coral Gables, Miami, Miami Shores, Palmetto Bay, Pinecrest and South Miami. Learn more at CleanEnergyGreenCorridor.com, or by calling 305-569-0015.