SRS and BayREN Launch Clean Energy Financing Workshop Series
Sessions Will Focus On How Contractors Can Use PACE Financing to Grow Their Business
OAKLAND, CA. – May 18, 2015 – Sustainable Real Estate Solutions, Inc. (SRS)—a leading provider of services and tools to assist contractors, project developers, and energy service companies qualify, develop and underwrite projects for energy efficiency financing—has been retained by the Bay Area Regional Energy Network (BayREN), to conduct a workshop series for San Francisco Bay Area contractors entitled: How C-PACE Financing Can Grow Your Business.
The free workshops are scheduled on Tuesday, June 2 through Friday, June 5, from 8:30 a.m. to 12:30 p.m. at select locations across the Bay Area. Registration is currently open for the sessions.
The workshops, led by Brian J. McCarter, CEO of SRS, third-party administrator for the industry-leading Connecticut statewide C-PACE program, are designed to show how commercial and industrial real estate project developers, energy service companies and contractors can grow their business using innovative C-PACE financing. The sessions will outline other successful programs and showcase the standards, tools and underwriting best practices proven to win projects and meet stakeholder underwriting demands.
PACE financing provides fixed-rate, long-term financing to cover up to 100 percent of project costs. Typical projects require no out-of-pocket expense and generate immediate cash flow for building owners—enabling deeper, more capital intensive retrofit investments.
“The support SRS provides for Connecticut’s C-PACE program has led to a streamlined, standardized, technically-sound and transparent underwriting methodology,” said McCarter. “The process, designed by the Connecticut Green Bank in collaboration with SRS, has earned the confidence of building owners, existing mortgage holders and capital providers.”
In just two years, the program has approved financing for more than 90 projects valued at more than $70 million, with an accelerating pipeline of new projects that now exceeds $80 million.
“This project underwriting methodology has facilitated 65 percent of all C-PACE finance approvals nationwide and is now poised to enable the large-scale adoption of energy efficiency investment in California,” said McCarter.
“SRS’s state-of-the-art project development tools have brought speed and transparency to the commercial PACE underwriting process,” said Rich Chien, PACE program manager for the City and County of San Francisco. “A recognized industry leader, SRS has enabled a C-PACE industry best practice across the entire project life cycle—from project origination through financing. We are excited to introduce contractors to these proven tools to jumpstart project origination across the Bay Area.”
“BayREN is delighted to partner with SRS to enable San Francisco Bay Area contractors and commercial and industrial building owners to fully-leverage the benefits of PACE financing to meet their property modernization needs while realizing compelling energy savings,” said Jennifer Berg, BayREN program manager with the Association of Bay Area Governments.
The contractor-focused campaign will also work closely with commercial PACE programs available in the region, including CaliforniaFIRST, GreenFinanceSF (San Francisco), Figtree, Ygrene and the Sonoma County Energy Independence Program.
To register, visit: Workshop Registration Page
About Sustainable Real Estate Solutions, Inc. (SRS)
SRS provides a suite of services and tools to assist contractors, project developers, and energy service companies qualify, develop and underwrite projects for energy efficiency financing. The company’s experienced project origination team is supported by a powerful technology platform designed to screen opportunities and optimize equipment investment decisions. The result is investor ready projects where building owners meet their property modernization needs with no out-of-pocket expense while generating immediate positive cash flow. For more information, visit www.PACEworx.com.
Bay Area Regional Energy Network (BayREN):
BayREN is a collaboration of the 9 counties that make up the San Francisco Bay Area. Administered by the Association of Bay Area Governments (ABAG), BayREN implements effective energy saving programs on a regional level and draws on the expertise, experience, and proven track record of Bay Area local governments to develop and administer successful climate, resource, and sustainability programs. For more information, visit www.BayREN.org.
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For more information, contact:
Sustainable Real Estate Solutions, Inc.
Brian J. McCarter, CEO
City and County of San Francisco
Rich Chien, GreenFinanceSF Program Manager
Bay Area Regional Energy Network
Jennifer K. Berg, BayREN Program Manager