News & Events
Ygrene’s Popular Building Upgrade Program Now Available in Sacramento and Yolo Counties
Johnson Controls and Ygrene Energy Fund Sign Nation’s Largest PACE Energy Upgrade Project with Metzler Real Estate
The $3.16 million Property-Assessed Clean Energy (PACE) project is funded through Clean Energy Sacramento. The energy efficiency upgrades will reduce Metzler’s annual utility costs by $140,000, a 27 percent decrease, and create nearly 50 local jobs during the construction phase.
“PACE is gaining momentum throughout the United States, connecting private capital with building owners to make improvements that result in substantial economic and environmental rewards,” said Chuck McGinnis, director, commercial energy solutions, Johnson Controls Building Efficiency. “Energy efficiency creates better buildings for owners, saves them money, delivers comfortable work environments for tenants, and new jobs to cities.”
To date, 30 states have PACE enabling legislation. PACE allows local governments to offer long-term, low-interest financing to property owners to implement energy efficiency upgrades. Projects are repaid through an annual assessment on a property tax bill that is linked to the property rather than the owner. Sacramento’s program, Clean Energy Sacramento administered by Ygrene Energy Fund, launched earlier this year. The program has closed $4.2M in projects over the past 90 days and has received over $10M in pre-approved applications.
“Metzler Real Estate is setting a new bar for energy efficiency and demonstrating the simplicity and economic benefit of PACE financing for large commercial projects,” said Stacey Lawson, CEO of Ygrene Energy Fund. “Ygrene is proud to support this landmark effort as we expand access to low-cost, low-risk capital for PACE projects across the nation.”
Sacramento mayor Kevin Johnson has focused on transforming the area into the “Emerald Valley,” to become the greenest region in the country and hub for clean technology. His efforts have focused on efficiency in transportation and buildings. The city has committed to retrofit 12 million square feet of commercial property in President Obama’s Better Buildings Challenge, and has partnered with Ygrene to make $100 million of PACE funding available for property owners to make energy upgrades.
"Congratulations to Johnson Controls and Metzler Real Estate along with Ygrene Energy Fund and the city staff who worked diligently to create Clean Energy Sacramento,” said Mayor Johnson. “Our program is well on its way to becoming the most successful commercial PACE program in the country. Together we are creating local jobs, reducing emissions, and putting Sacramento on the map as a national leader in sustainability."
Metro Center, managed by Colliers International, is located at 2700-2720 Gateway Oaks Drive and comprised of four buildings, totaling approximately 250,000 square feet. Upgrades include replacement of rooftop units with high efficiency equipment and installation of a Metasys® building management system to control the mechanical equipment and interior and exterior lighting. The retrofit will enable Metro Center to register for LEED® certification, an emerging standard for large corporate tenants in California.
“The decision to retrofit Metro Center demonstrates the economics of sustainability to increase energy efficiency while reducing costs,” said Dwight McRae, managing director of Metzler Real Estate. “As a client-focused boutique firm, we amplify our portfolio’s value by concentrating on the property, the market, and the investment strategy.”
“Colliers International Real Estate Management Services has been at the forefront of Ygrene’s Clean Energy Sacramento program since its inception, and this is definitely a win-win for the landlord and the tenants”, said Dianna Berry, Property Manager for Colliers REMS, “Not only will it significantly reduce the utility costs, the cost of maintenance and labor to operate the new automated system, but it will provide the tenants with a more comfortable and controllable space, with less impact on the environment.”
About Johnson Controls
Johnson Controls is a global diversified technology and industrial leader serving customers in more than 150 countries. Our 168,000 employees create quality products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Our commitment to sustainability dates back to our roots in 1885, with the invention of the first electric room thermostat. Through our growth strategies and by increasing market share we are committed to delivering value to shareholders and making our customers successful. In 2013, Corporate Responsibility Magazine recognized Johnson Controls as the #14 company in its annual "100 Best Corporate Citizens" list. For additional information, please visit www.johnsoncontrols.com.
About Ygrene Energy Fund
Ygrene Energy Fund is the leading developer and administrator of clean energy financing programs throughout the United States. Ygrene's fully funded Clean Energy Programs provide privately funded and immediately accessible financing for renewable and energy efficiency upgrades to both residential and commercial property owners at no upfront costs. Over the next five years, Ygrene’s Clean Energy Districts are projected to create tens of thousands of local jobs and invest hundreds of millions into local economies. Learn more at ygrene.us.
About Metzler Real Estate
Metzler Real Estate provides independent advice and tailored investment services to private and institutional clients investing in key North American real estate markets. Metzler Real Estate’s multi-discipline expertise, defined processes and clear standards ensure a disciplined, active approach to value preservation and creation. As an affiliate of the Frankfurt-based private investment bank B. Metzler seel. Sohn & Co. KGaA (est. 1674), clients experience the benefits of stability, personalized service, and a history of proven performance. www.metzlerna.com
Antenna for Ygrene Energy Fund
Frause on behalf of Metzler Real Estate
Ygrene Introduces Commission for PACE Project Referrals
Ygrene Referral Agent Program
Ygrene Referral Agents can easily earn commission on any of the hundreds of commercial and residential property upgrades financed by Ygrene. Eligible projects include energy efficiency and renewable energy as well as hurricane protection in Florida and water conservation in California. Eligible construction projects completed within the past year in their Clean Energy Sacramento and Clean Energy Green Corridor districts are also eligible for commission through Ygrene’s refinancing opportunities.
Ygrene’s financing offers commercial and residential property owners the clear benefit of 100 percent financing, a 20 year fixed-rate term, easy qualification, zero out-of-pocket expense and many more advantages compared to property owners traditional debt financing options.
An introductory double-commission rate of one percent is available to those agents who complete project applications before October 31, 2013, and a 0.5 percent commission will be offered through the end of the year. With the company’s plan to finance more than $100M in PACE projects in the next year, the Ygrene Referral Agent Program represents more than $1M in available referral fees for the marketplace.
Through its Clean Energy Sacramento program in California, launched earlier this year, Ygrene has closed $4.2M in projects over the past 90 days and has received over $10M in pre-approved applications. The company also recently funded Florida’s first PACE projects through its Clean Energy Green Corridor program and will open its doors in Atlanta, Georgia later this year.
In addition to the vast referral agent income benefits, the Ygrene Referral Agent Program offers professionals a key service differentiator and an opportunity to strengthen their expertise in the rapidly growing sustainability sector. It also serves as yet another tangible job creation benefit from Ygrene, which works closely with local contractors to bring PACE projects to life.
Industry professionals can register as Referral Agents through a simple online process in minutes at Ygrene.us/ReferralAgent, or by visiting a local Ygrene Energy Center. No specialized training is required, though a full set of educational materials, webinars and sales tools are available. Ygrene Referral Agents are also welcome to attend Ygrene Certification training for comprehensive education on the program and benefits to property owners. Agents who register by August 31 will receive five free application vouchers, a $250 value, to offer their referred property owners.
“The Ygrene Referral Agent Program accelerates the positive impact of PACE by offering financial incentives to community stakeholders and professionals across the nation. In some instances, Referral Agents can earn upwards of $10,000 on a single project,” said Stacey Lawson, CEO of Ygrene Energy Fund. “We’re receiving strong interest in this unique opportunity to positively impact communities, enhance client services, and make money by doing good.”
For additional details on program eligibility and qualifying projects, please visit Ygrene.us/ReferralAgent
About Ygrene Energy Fund
Ygrene Energy Fund is the leading developer and administrator of clean energy financing programs throughout the United States. Ygrene's fully funded Clean Energy Programs provide privately funded and immediately accessible financing for renewable and energy efficiency upgrades to both commercial and residential property owners at no upfront costs. Over the next five years, Ygrene’s Clean Energy Districts are projected to create tens of thousands of local jobs and invest hundreds of millions into local economies. Learn more at ygrene.us.
Antenna Group for Ygrene
Sacramento County Commissions PACE District
Program with Ygrene Energy Fund opens new energy upgrade financing option countywide
SACRAMENTO, Calif., March 28, 2013
On Tuesday, March 26, the Sacramento County Board of Supervisors officially formed a Property Assessed Clean Energy (PACE) financing district within the unincorporated County, finalizing a process set in motion late last year. The County has partnered with Ygrene Energy Fund, a leading provider of clean energy finance programs for local governments, to create new facility upgrade opportunities for property owners countywide.
By creating this district, the County enables property owners to finance energy efficiency, water conservation and renewable energy upgrades with no capital outlay. Instead, the investment is repaid in smaller, more manageable increments through future property tax bills. Through Ygrene's program, property owners can efficiently connect with more than 180 Ygrene certified local contractors to bring projects to life.
Additionally, the ruling offers six incorporated cities in the greater Sacramento area—Citrus Heights, Elk Grove, Folsom, Galt, Isleton, and Rancho Cordova—the opportunity to opt into this program.
"We commend Sacramento County for its work to unlock the financial and environmental benefits of energy and water infrastructure upgrades for the thousands of commercial buildings across the region," said Stacey Lawson , Ygrene CEO. "With the support of Ygrene, the County can now offer its property owners a simple and easy option to finance their home energy improvements at no up front cost, and without any taxpayer money. We're very excited about this partnership."
This news comes on the heels of Ygrene's Clean Energy Sacramento program in the City of Sacramento, which went live in January. Sacramento County property owners and contractors can learn more at CleanEnergySacramento.com.
"This decision is a true win-win for Sacramento County. For every $100 million invested in these upgrades, we project the creation of 1,500 new jobs and $250 million in economic stimulus—all without placing any financial burden on the county's general fund," said Phil Serna , Sacramento County Supervisor. "We look forward to working with the Ygrene team to increase local property values and generate significant utility bill savings for our residents."
About Ygrene Energy Fund
Ygrene Energy Fund is the leading developer and administrator of clean energy financing programs throughout the U.S. Ygrene's fully funded Clean Energy Programs provide privately funded and immediately accessible financing for renewable and energy efficiency upgrades to both residential and commercial property owners at no upfront costs. Over the next five years, Ygrene's Clean Energy Districts are projected to create tens of thousands of local jobs, invest hundreds of millions into local economies and drive massive reductions in greenhouse gasses. Learn more at ygrene.us and CleanEnergySacramento.com.
For Sacramento, Energy Upgrades With No Upfront Costs
Sacramento has announced a new program to help finance energy-saving upgrades for buildings like adding insulation, replacing old windows, installing high-efficiency heating and cooling systems or adding rooftop solar panels.
Owners of homes or commercial buildings will incur no upfront costs for taking part in the program, Clean Energy Sacramento, but will gradually pay back the financing in installments on their property tax bills. The city’s program will be one of the largest in the country based on this approach, known as Property Assessed Clean Energy, or PACE, financing, said Stacey Lawson, the chief executive of the company that will manage the program for the city, Ygrene Energy Fund.
Sacramento has set a goal to reduce its energy use by 15 percent by 2020. The program will open with $22 million already committed to upgrades, Ms. Lawson said in a telephone interview.
It will also be the first program to operate under a state legislative measure that expanded the guidelines for regulating PACE programs and should help resolve some of the snags that have troubled other such efforts, she said.Full Article
Sacramento Launches $100-Million Energy Retrofit Fund
Sacramento commercial and residential property owners can now install energy-saving equipment at no upfront cost. Yesterday, local political leaders, including Mayor Kevin Johnson, announced the launch of Clean Energy Sacramento, a property assessed clean energy (PACE) program operated by Ygrene Energy Fund.
With PACE financing, the property owner agrees to repay the cost of improvements such as a more efficient chiller or rooftop solar panels through an annual property tax assessment lasting up to 20 years. If a building is sold or transferred, the PACE lien remains tied to the property. As I’ve written before at this blog, perhaps the strongest selling point of PACE financing is that it enables property owners to avoid the upfront cost to install new equipment, one of the thorniest problems of energy efficiency project development.
Years in the making, Clean Energy Sacramento launched with the support of the City of Sacramento. City leaders, eager to free the economy from an over-reliance on state government and new home construction, had been looking for ways to create jobs and meet the city’s environmental goals without making new demands on a lean city budget.Full Article
Sacramento Energy Efficiency Effort
Sacramento officials have launched a $100 million effort to upgrade the energy efficiency of the city's homes and commercial buildings - at no up-front cost to property owners.
The Clean Energy Sacramento program, which began Wednesday, was developed with a Santa Rosa startup company. It lets building owners pay for upgrades over the course of up to 20 years through a line item added to their property taxes.
They can use the financing to add new, efficient lighting and air conditioning. Or they can install solar panels, immediately lowering their electric bills while paying for the equipment bit by bit.
Ygrene Energy Fund, which created the program for the city, will line up financing for each project and certify the contractors who install the equipment. City officials hope the effort will create 1,500 jobs and help Sacramento reach its goal of cutting greenhouse gas emissions 15 percent by 2020.
"Not only are we making Sacramento a cleaner and healthier place to live, we're also putting Sacramento's hard-hit construction business back to work and revitalizing our economy at zero cost to taxpayers," said Mayor Kevin Johnson.Full Article
Clean Energy Sacramento upgrade, retrofit program launches
Clean Energy Sacramento, a private-public energy retrofit financing program created by a partnership of Ygrene Energy Fund and the city of Sacramento, has launched.
Clean Energy Sacramento is the first privately funded clean energy financing program for residential and commercial buildings, and uses no public money, according to a news release. Property owners can use financing for energy efficiency upgrades, renewable energy or water conservation, with no out-of-pocket costs, as the program uses property taxes for 20 years.
At its launch, the program already has $22 million in prequalified projects, involving 150 local contractors. One project ready to go is an upgraded chiller at 520 Capitol Mall. The $513,000 project is expected to cut costs by $47,000 per year for 25 years, according to a news release. It will also help increase the property value.
Clean Energy Sacramento is projected to support 1,500 jobs for every $100 million invested, help property values and push the region to the goal of reducing energy use by 15 percent by 2020.
"Launching Clean Energy Sacramento is a major milestone in establishing this city as a national leader in the green economy," Mayor Kevin Johnson said in a news release. "Not only are we making Sacramento a cleaner and healthier place to live, we're also putting Sacramento's hard-hit construction business back to work and revitalizing our economy at zero cost to taxpayers.”Full Article
Ygrene Energy Fund and City of Sacramento Launch Clean Energy Sacramento
Nation's first privately funded energy financing program for both residential and commercial buildings begins funding projects, boosting local economy, job market and property values
SACRAMENTO, California - Jan. 30, 2013
The City of Sacramento and Ygrene Energy Fund, a leading provider of clean energy finance programs for local governments, today announced the launch of Clean Energy Sacramento, a pioneering public-private partnership which provides funding to local property owners for energy efficiency, renewable energy and water conservation upgrades at no up-front cost. Clean Energy Sacramento is the first privately funded clean energy financing model in the nation for both commercial and residential buildings, providing 100 percent private funding for energy retrofits with no public money. Clean Energy Sacramento is projected to create thousands of jobs, boost property values and help achieve Sacramento's goal of reducing energy use 15% by 2020.
Both commercial and residential properties have been approved for immediate funding under the program, including a spotlight project to upgrade to a more efficient chiller at 520 Capitol Mall, located in the most prominent downtown office corridor in the City. The $513,000 project will be installed by Airco Mechanical, a certified Ygrene contractor, and is projected to reduce costs by $47,000 a year for 25 years, while improving the property value in excess of the project cost.
"Launching Clean Energy Sacramento is a major milestone in establishing this city as a national leader in the green economy," said Kevin Johnson, mayor of Sacramento. "Not only are we making Sacramento a cleaner and healthier place to live, we're also putting Sacramento's hard-hit construction business back to work and revitalizing our economy at zero cost to taxpayers. Clean Energy Sacramento is a win for the city in every way, and I encourage all property owners to join this innovative program as we transform the Sacramento region into the Emerald Valley."
Clean Energy Sacramento launches with $22M of prequalified projects in the pipeline, with more than 150 trained local contractors ready to begin work across the City. According to independent research conducted by ECONorthwest, every $100M invested via Clean Energy Sacramento is projected to create 1,500 jobs, $250M in economic activity and $25M in tax revenue. Interested property owners and contractors can apply for funding and sign up for training now at cleanenergysacramento.com.
"Innovative programs like Clean Energy Sacramento are essential to continue creating jobs and improving property values as our economy recovers," said Congresswoman Doris Matsui (D-CA). "I applaud Sacramento on launching this impressive program, and will continue working to help more municipalities nationwide follow Sacramento's example."
Under Clean Energy Sacramento, property owners repay capital costs for clean energy upgrades and retrofits via property taxes over a period of up to 20 years. The unique property tax payback mechanism makes it possible for both the efficiency savings and investment to transfer with the property upon a sale, a significant benefit for property owners. All commercial properties are projected to deliver financial benefits that exceed additional property taxes, delivering a reliable return for property owners.
Ygrene also announced the grand opening of its Ygrene Energy Center, Sacramento at 2600 Capitol Avenue to serve as a community hub for the program. The Ygrene Energy Center, Sacramento will host contractor trainings, energy efficiency workshops and partner meetings, as well as provide information on cutting-edge green products and hold consultations about participating in Clean Energy Sacramento. To view upcoming events and learn more about the program, visit cleanenergysacramento.com.
"We are thrilled to open the doors of our Energy Center and start funding projects immediately," said Stacey Lawson , CEO of Ygrene. "At a time when owners are seeking to improve the comfort and efficiency of their properties, and cities are searching for ways to kickstart their economies and reduce energy consumption, Clean Energy Sacramento offers tremendous opportunity. We look forward to working closely with the city and our partners to make Sacramento a national leader in energy efficiency."
Ygrene is bringing its privately funded model to other states across the nation later this year, establishing the Clean Energy Green Corridor in Miami-Dade County, FL and Clean Energy Atlanta in Georgia.
About Ygrene Energy Fund
Ygrene Energy Fund is the leading developer and administrator of clean energy financing programs throughout the U.S. Ygrene's fully funded Clean Energy Programs provide privately funded and immediately accessible financing for renewable and energy efficiency upgrades to both residential and commercial property owners at no upfront costs. Over the next five years, Ygrene's Clean Energy Districts are projected to create tens of thousands of local jobs, invest hundreds of millions into local economies and drive massive reductions in greenhouse gasses. Learn more at ygrene.us and cleanenergysacramento.com.
Programs help property owners with efficiency
Property owners in Sacramento County and other parts of the capital region now have more access to programs that cut energy bills through programs announced Tuesday in Sacramento.
The Sacramento County Board of Supervisors voted to create a Property Assessed Clean Energy (PACE) financing district within the unincorporated portion of the county using a program set up by Ygrene. The district will enable property owners to fund energy and water efficiency and renewable energy upgrades without up-front cost through their property tax bills – and is the second PACE-type program offered in the city and county. The other is through CaliforniaFIRST, which also includes Yolo County.
Ygrene already has signed up the city of Sacramento and Sacramento County, and is reaching out to others in Northern California, said John Kaufman, regional director of Ygrene Energy Fund. County officials said other cities within the county can easily join the program and capitalize on Ygrene’s easy format and funding from local banks.Full Article
A PACE Rebirth? Sacramento and Ygrene Try to Unlock Green Homes
Can a new approach to PACE home solar/efficiency finance overcome big regulatory roadblocks? Sacramento and Ygrene are trying it out.
Property assessed clean energy, or PACE, financing -- paying for home solar installations, energy efficiency retrofits and other green improvements through property taxes -- was all the rage a few years ago.Full Article
Green for Green
Alternative financing for sustainable development
Developers looking to build in the Capital Region are finding cash in emerging green-financing products. Some reward energy-efficiency upgrades, and others leverage public-private partnerships. Opportunities for these types of programs are increasing, yet the market struggles to assess consistently the opportunities sustainable construction provides.
But change is coming, and the Sacramento region is at the forefront. To start, yGrene Energy Fund Inc., a company offering unlimited, private financing to develop clean-energy districts in cities across the country, announced last year the development of Clean Energy Sacramento, a pilot community that would coordinate private investment in energy-efficient retrofits to existing properties. Barclays bank has invested $650 million in the nationwide endeavor.
But even with this type of burgeoning momentum for new financing strategies, “There’s a real disconnect” in the market, says Michele Skupic, vice president and national director of sustainability at Fidelity National Financial Inc./FNF Green. “There’s amazing resistance for (energy) improvements, a lack of empirical energy data and so many different shades of green for energy efficiencies that the financial market is having a tough time valuing green projects correctly.”Full Article
Clean Energy Sacramento Expands to All Property Types
Program is first in state to extend energy upgrade financing to publicly owned buildings and new construction; $20M in commercial projects on tap
SACRAMENTO, Calif., June 28, 2012
Ygrene Energy Fund, a leading provider of clean energy finance programs for local governments, today announced expanded building eligibility and financing terms under Ygrene's Clean Energy Sacramento program to all property types. A notable achievement that will further advance the region's economic and clean energy goals, Sacramento City Council's vote is the first in the state to adopt Senate Bill 555 and connect owners of new construction and publicly owned buildings, in both residential and commercial properties, to more than $100 million for energy building improvements.
Clean Energy Sacramento provides financing for property owners for energy efficiency, water conservation and renewable energy upgrades at no up-front cost, repaid through property taxes.Tuesday's legislative expansion also allows residential and commercial property owners to refinance existing improvements, as well as take advantage of more flexible financing terms, which mean lower payments with lower interest rates.
"Sacramento is teeming with interest in our program," remarked Dan Schaefer, Ygrene president. "More than 275 contractors have signed up for Clean Energy Sacramento, and we've already seen more than $20 million in commercial projects lined up for our Fall 2012 launch. Thanks to this expansion – especially now that residential buildings are eligible -- we expect those numbers to rise considerably."
Additional construction activity generated by Clean Energy Sacramento's expansion will drive greater citywide adoption of clean energy upgrades, and will be a major boon for Sacramento's economy. For every $100 million invested in upgrades, the city expects 1,500 new jobs and $250 million in economic stimulus.
"After a tough run the past few years, this program will be an instant job creator for contractors," said Scott Whyte, political director for Region Builders. "Clean Energy Sacramento is one of the most exciting economic development programs to ever come to our region. Expanding the scope of clean energy retrofits for Sacramento construction will generate even more job opportunities for our members."
About Ygrene Energy Fund Ygrene Energy Fund is the leading developer and administrator of clean energy finance programs throughout the US. In partnership with the Pace Commercial Consortium, Ygrene has unlocked $550 million of private funding for affordable, immediately accessible financing for commercial and residential energy upgrades at no upfront costs. Over the next five years, Ygrene-funded renewable energy and efficiency programs are projected to bring tens of thousands local jobs, millions invested in local businesses, and massive reductions in greenhouse gasses.Full Release
Sacramento Mayor Kevin Johnson on Clean Energy Sacramento
Who is writing these articles?
Sacramento May Expand Energy Program
April 30, 2012
The city of Sacramento is poised to expand its program to help commercial building owners pay for energy-efficiency improvements.
On Tuesday, the City Council is scheduled to consider declaring its intent to establish a community facilities district for the Clean Energy Sacramento program, which would replace Sacramento’s Property-Assessed Clean Energy — or PACE — program. More than 200 property owners and contractors have already signed up for that program, set to roll out this spring.
The council would amend its contract with Ygrene Energy Fund California LLC, the company selected to administer the program, in light of a new state law that Ygrene President Dan Schaefer described as “very protective of property owners.”Full Article
Sacramento Power Play
By CHARLES CHIEPPO of Governing - November 2, 2011
I've long been skeptical about using taxpayer dollars to bolster the clean-energy industry--or any other private businesses, for that matter. But a privately financed program underway in Sacramento, Calif., is showing that good environmental policy can also be good fiscal policy.
The program will allow Sacramento businesses to complete $100 million worth of energy retrofits on commercial buildings without incurring any upfront costs. The money for the retrofits, from private lenders, would be repaid through a property-tax surcharge on the participating business, but the important point is that the reduction in energy costs--typically about one-third--would more than cover the temporary property-tax increase.
And though I'm just as skeptical of public economic-development projections as I am of private businesses getting government subsidies, Sacramento Mayor Kevin Johnson's office estimates that the $100 million investment has the potential to stimulate another $530 million in regional economic activity. The mayor's office also predicts that the program will create 1,500 construction jobs.
Loan program will help Sacramento energy-saving retrofits
By Dale Kasler and Rick Daysog of the Sacramento Bee - September 28, 2011
A high-powered investment coalition assembled by Richard Branson, the eccentric British billionaire, is offering Sacramento a shot at hundreds of jobs through a $100 million energy-efficiency program.
Sacramento is one of two cities chosen by Branson's nonprofit Carbon War Room group for a privately financed effort to retrofit office buildings and other commercial properties. The other city is Miami; the program would total $650 million.
Announced late Monday, the deal could mean jobs for hundreds if not thousands of Sacramento construction workers. They would install double-pane windows, solar panels and the like on buildings throughout the city.
"This has the potential to be a huge economic boost for Sacramento," said Mayor Kevin Johnson in a prepared statement. "It represents real jobs, right now, and a chance to be a showcase."
Investors choose Sacramento for green building retrofits
By Melanie Turner of the Sacramento Business Journal - September 20, 2011
Sacramento is one of two U.S. cities chosen to benefit from millions of dollars in private investment that’s part of a huge energy-efficiency project led by English business magnate Richard Branson.
The project, unveiled Tuesday, aims to tap private investment to help stimulate the retrofitting of commercial buildings in Sacramento and Miami-Dade County, potentially creating thousands of construction jobs.
Branson’s nonprofit Carbon War Room, which works to battle climate change, on Tuesday announced a consortium that includes Lockheed Martin Corp., Barclays Capital and Ygrene Energy Fund of Santa Rosa.