City of Los Angeles property owners are now able to finance seismic and energy improvements to their homes and businesses through a new program approved by the Los Angeles City Council. The council recently approved the AllianceNRG Program to provide financing for up to 100 percent of the project costs for seismic retrofits, energy efficiency improvements, renewable generation projects, water conservation measures and electric vehicle (EV) charging stations.
The AllianceNRG Program is entirely voluntary and is available only to property owners in counties and municipalities that are members of the California Statewide Communities Development Authority (CSCDA) and opt-in to its Open Property Assessed Clean Energy (PACE) Program.
The AllianceNRG Program is an administrator for CSCDA’s Open PACE Program through a team consisting of CounterPointe Energy Solutions and Leidos Engineering, financed by Deutsche Bank and CounterPointe Energy Partners. The City of Los Angeles joins a growing list of AllianceNRG participants in California that include San Diego County, and the City and County of San Francisco. With 350 eligible contractors, architects and engineering professionals already registered, and over $50 million in seismic projects in process, the AllianceNRG Program is the leading provider of financing for seismic retrofits in California.