Roseville, Calif.- mPOWER Placer saw a 30 percent increase in financing of energy efficiency retrofit and water conservation improvements totaling $21.5 million in 2015.
mPOWER, Placer County’s Property Assessed Clean Energy (PACE) program, funded a total of 702 residential and non-residential energy improvements, an increase of more than 100 from 2014 when mPOWER funded 596 projects for $16.6 million.
Solar remains the most popular energy improvement, but many homeowners and businesses are also taking advantage of mPOWER financing to upgrade heating and cooling systems, replace windows and doors, and install better insulation among other improvements.
“mPOWER offers low cost property based financing to improve energy efficiency which reduces utility bills and increases homeowner disposable income and business profit margins,” said Jenine Windeshausen, mPOWER Program Administrator. mPOWER provides PACE financing in Placer County and the City of Folsom for residential, commercial, industrial, and agricultural property.
“Business and non-profit corporations have used mPOWER to fund improvements at schools, office buildings and even churches,” said Windeshausen.
The results of the improvements can be as much as a 40 percent energy savings in the case of deep energy efficiency retrofits. The Granlibakken Resort and Conference Center in Tahoe expects its improvements to net more than $44,000 annually in savings. The Granlibakken project received recognition from the U.S. Department of Energy in 2015 as a Better Buildings Challenge Project. Several other mPOWER financed commercial projects are underway for 2016.
For Placer County, the investment in energy and water conservation improvements created 831 jobs, with 322 contracting firms actively engaged in projects around the County and in its cities. The City of Rocklin has the highest projects funded to date approaching $9 million, with the City of Lincoln close behind at more than $8 million.
The Placer County Board of Supervisors approved the issuance of up to $100 million in bonds to finance improvements throughout Placer County. In July of 2015, the Treasurer-Tax Collector’s Office sold $10 million of the bonds to Five-Star Bank which is locally owned and operated.
