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California

California

Incentives/Policies for Renewables & Efficiency

Printable Version
City of San Francisco - GreenFinanceSF   

Last DSIRE Review: 10/11/2012
Program Overview:
State: California
Incentive Type: PACE Financing
Eligible Efficiency Technologies: Water Heaters, Furnaces , Boilers, Central Air conditioners, Programmable Thermostats, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows
Eligible Renewable/Other Technologies: Solar Water Heat, Photovoltaics
Applicable Sectors: Commercial, Nonprofit, Multi-Family Residential
Terms:Minimum: $50,000
Maximum: 10% of the assessed value of the property
Loans are repaid over a period of up to 20 years through property tax bills
Funding Source:Bonds, The American Recovery and Reinvestment Act of 2009 (ARRA)
Program Budget:$150 million
Start Date:4/12/2010
Web Site: https://greenfinancesf.org
Authority 1:
Date Enacted:
San Francisco Ordinance 016-10
2/8/2010
Authority 2:
Date Enacted:
San Francisco Ordinance 308-11
7/26/2011
Summary:

GreenFinanceSF is a Property Assessed Clean Energy (PACE) financing program, and is funded through a mix of bonds and funds granted to the city through the federal American Recovery and Reinvestment Act (ARRA). GreenFinance SF uses an "open-market" PACE model in which individual property owners identify their own project lenders and negotiate all the financing terms with them. The City collects loan repayments from the participant through a special tax lien on the property and disburses payment to the project lender. The special tax lean should provide greater security to the lender, who should be able to provide more favorable financing terms to the property owner.

The property must be located in the City and County of San Francisco must e current in the payment of all obligations secured to the property including property taxes, assessments and tax liens within the past 3 years. The GreenFinance SF lien will be a senior lien, and the property owner must receive written consent from all lenders with existing liens on the property.  The property owner must also have a professional energy and/or water audit conducted on the property, and the improvements being targeted by the financing must be identified as opportunities or recommendations by the auditor. If a renewable energy system is financed, the property owner must also implement energy efficiency measures resulting in a 10% improvement in building energy performance.

See program web site for additional rules and restrictions.


 
Contact:
  Customer Service
GreenFinanceSF
Phone: (415) 937-7223
E-Mail: contact@greenfinancesf.org
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.

While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.

Copyright 2013 - 2014 North Carolina State University, under NREL Subcontract No. XEU-0-99515-01. Permission granted only for personal or educational use, or for use by or on behalf of the U.S. government. North Carolina State University prohibits the unauthorized display, reproduction, sale, and/or distribution of all or portions of the content of the Database of State Incentives for Renewables and Efficiency (DSIRE) without prior, written consent.