Tag Archives: Energy Efficiency

Clean-energy lender Renovate America tops $1 billion in loans

By Ivan Penn, The Los Angeles Times

A leading clean-energy lender has topped $1 billion in loans for home improvements — a milestone for the San Diego company as well as a once-foundering government program to encourage projects that reduce electricity or water use.

Renovate America got into the business in 2011 as the Property Assessed Clean Energy financing program, or PACE, was struggling to overcome opposition from mortgage lenders and federal housing regulators that had stalled the clean-energy lending effort. Since then, the lender has provided money to 44,000 households for efficiency projects in partnership with local governments using the Pace program. That represents not only a fast-growing source of revenue for Renovate America but also a gauge of the improving health of PACE programs.

PaceNow, a nonprofit organization that tracks use of the Pace programs nationwide, lists Renovate America as the top operation of lender among more than 100 members. Renovate America is the only one to reach $1 billion in financing, with more than 90% market share of all Pace programs, which operate in conjunction with local governments in 32 states and the District of Columbia.

Read full article in the Los Angeles Times

Half Of California’s Electricity Will Come From Renewable Energy In 15 Years

By Ryan Koronowski, ThinkProgress.org

Late Friday night, the California State Assembly voted 51-26 to pass SB 350, a landmark bill that would boost renewable energy and make buildings twice as efficient as before. The legislature sent the bill to California Gov. Jerry Brown for his signature, and he is expected to sign it later this month, as the legislation makes real the goals Brown set down earlier this year in his inaugural address.

The state’s Renewable Portfolio Standard (RPS) currently requires utilities to provide 33 percent of their electricity generation from renewable sources, such as solar, wind, and geothermal power, by 2020. SB 350, The Clean Energy and Pollution Reduction Act of 2015, increases that target to 50 percent by 2030. It also requires a 50 percent increase in energy efficiency in buildings by that year.

Brown also issued an executive order in January that aims to reduce the state’s greenhouse gas emissions by 40 percent below 1990 levels by 2030 — a big step to the larger 2050 goal of reducing GHGs by 80 percent under 1990 levels. This legislation accelerates the pace to that target.

Read full article from ThinkProgress.org