Welcome to Green Energy Loan
AB811 program for Cities and Counties
In cooperation with a number of banks, Green Energy Loans (GEL) has put in place a program to offer AB811, Property Assessed Clean Energy (PACE) financing of energy efficiency retrofits, solar PV and solar thermal systems for residential and commercial properties.
The AB811 structure for repayment of funds via a tax lien on real property requires an interested city to either create its own Contractual Assessment Program (CAP) or participate in a CAP created by the County within which the city is located. For cities not already part of an existing CAP, one will be created for them by GEL, subject to City Council Resolution adopting the program.
After the CAP is formed, GEL will arrange with one of its participating banks to provide financing for use by the City making AB811 loans to properties within its jurisdiction. The financing can only be used for AB811 loans. The bank will be secured by assignment of the tax liens associated with the City’s AB811 borrower properties. There is no General Fund exposure for participating cities.
For cities not wishing to staff the AB811 program internally, GEL will administer the CAP.
Property owner interaction with the program is handled on the web site that GEL provides to the City. The GEL web site can produce all documentation needed for compliance with the AB811 CAP. The City needs to designate a staff member with authority to sign the CAP assessments, on behalf of the City, with participating property owners. However, all other work required by the program can be done online and through contract providers paid from proceeds of the AB811 assessment.
Energy efficiency retrofits and solar installations are provided by private contractors who are listed on the web site, and available for selection by the property owner. All work is paid for on a per loan basis from the loan proceeds.