GreenFinanceSF is a Property Assessed Clean Energy (PACE) financing program for commercial properties. 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 be 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 website for additional rules and restrictions.
|Eligible Renewable/Other Technologies:
Maximum: 10% of the assessed value of the property
Loans are repaid over a period of up to 20 years through property tax bills
|San Francisco Ordinance 016-10
|San Francisco Ordinance 308-11
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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