Solar & Battery Regulation & Incentive Programs

City of San Francisco - GreenFinanceSF

Program Overview


Category:
Financial Incentive
Program Type:
PACE Financing
Implementing Sector:
Local
State:
California
Eligible Storage Technologies:
Solar Water Heat, Solar Photovoltaics, Water Heaters, Furnaces, Boilers, Air conditioners, Programmable Thermostats, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows
Website:
https://sfenvironment.org/article/financing/greenfinancesf-commercial-pace-program
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
Applicable Sectors:
Commercial, Nonprofit, Multifamily Residential
Start Date:
04/12/2010
Last Updated:
10/29/2020

Summary

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 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 website for additional rules and restrictions.


Authorities

NameEnacted DateEffective DateExpired Date
San Francisco Ordinance 016-102/8/2010
San Francisco Ordinance 308-117/26/2011