Things to consider when financing
Property owners in Marin have multiple options for financing energy improvements. Choosing the best financing option depends on the type of project, amount of money financed, and individual situation of the borrower.
Some things to consider before using financing for a project:
- Interest rates — different products (PACE, home equity, line of credit) can have different interest rates. Be sure to evaluate all your options.
- Fees — there can be up-front and annual fees.
- Property Tax Re-assessment — some projects may trigger re-assessment while others (like solar PV) are excluded from re-assessment.
- Existing mortgages — in some cases you may have to pay off the assessment or loan before refinancing or selling your home.
- Tax deductibility — be sure to talk to your tax advisor before claiming any tax deductions.
GoGreen Financing
GoGreen Financing is part of the California Hub for Energy Efficient Financing (CHEEF), which is a state administered program.
The program works with private banks to offer lower-rate financing options to help with energy efficiency-related home improvements.
Property Assessed Clean Energy (PACE)
Property owners can secure upfront funding for energy efficiency, water efficiency, renewable energy, and seismic improvement projects which are repaid through an up to 20-year special line item on their property taxes - instead of traditional consumer credit. The program is open to property owners in all Marin jurisdictions and unincorporated Marin County. PACE programs require jurisdiction approval to operate. See below to find operating PACE programs in your city or town.
For more information on what homeowners need to know about PACE financing, visit the Department of Financial Protection and Innovation's PACE resources page.
Unincorporated Marin County, Fairfax, Larkspur, San Anselmo, San Rafael, Novato, Tiburon, Belvedere, Mill Valley, Sausalito:
- CaliforniaFIRST- Residential
- YGrene- Residential, Commercial, Multi-Family
- FortiFi (formerly E3) - Residential
Corte Madera, Ross:
- CaliforniaFIRST- Residential, Multi-Family, Commercial