Roseville, Calif. – The Placer County Board of Supervisors received a program update on mPOWER which has funded more than $35 million in clean energy projects, Nov 17 . mPOWER infuses the Placer County economy with an average of $1.2 million each month.
Most recently in October 2015, 54 residential projects were financed for $1.54 million and a commercial project for an additional $75,000.
mPOWER, Placer County’s Property Assessed Clean Energy (PACE) financing provider, has helped create 714 local jobs while reducing greenhouse gases by 2,570 tons (equal to removing 496 cars from the road annually). Currently, 307 contractors work with the program. Indirectly, 648 jobs have been created through increased disposable income to homeowners and increased profit margins to businesses generated from energy savings.
mPOWER continues to grow as commercial and residential property owners take advantage of the 6 percent, fixed-interest financing, with installments paid twice a year with property taxes. The program currently receives an average of 100 applications a month.
The Board of Supervisors continued its commitment to the mPOWER program by approving seven positions to be filled incrementally, as needed, to provide critical customer service for mPOWER’s growth.
POWER currently serves unincorporated Placer County and the cities of Roseville, Rocklin, Lincoln, Auburn, Loomis and Colfax and the City of Folsom in Sacramento County.