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Banking industry

Los Angeles Introduces New Program for Seismic and Energy Improvements

Strategic Insights

— 1 min read

The Los Angeles City Council has approved the AllianceNRG Program, a new initiative that allows property owners to finance seismic and energy improvements to their homes and businesses. The program, which is offered through the California Statewide Communities Development Authority (CSCDA), provides 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.

Key Takeaways:

  • The AllianceNRG Program is a Property Assessed Clean Energy (PACE) financing program that provides financing for seismic and energy improvements to property owners in Los Angeles.
  • The program is entirely voluntary and is available only to property owners in counties and municipalities that are members of the CSCDA and opt-in to its Open PACE Program.
  • PACE financing is proven to provide job creation, economic development, reduce energy consumption, and advance renewable energy options.
  • The AllianceNRG Program is administered by CounterPointe Energy Solutions and Leidos Engineering, with financing provided by Deutsche Bank and CounterPointe Energy Partners.
  • The program has a growing list of participants in California, including San Diego County and the City and County of San Francisco, and is the leading provider of financing for seismic retrofits in the state.

Statistics:

  • The AllianceNRG Program has over $50 million in seismic projects in process.
  • The program has 350 eligible contractors, architects, and engineering professionals registered.
  • The program is available to property owners in Los Angeles, which has a large and growing population of over 4 million people.
  • The program is expected to provide economic benefits, including job creation and economic development, while also reducing energy consumption and advancing renewable energy options.

Sources:

  • "Los Angeles property owners now able to finance seismic and energy improvements through new program." PRNewswire,
  • About CounterPointe Energy Solutions LLC, counterpointe.com/company-overview
  • About CounterPointe Energy Partners LLC, counterpointepartners.com/
  • About Leidos Engineering, leidos.com/
  • About Leidos, leidos.com/
  • About Deutsche Bank, db.com/

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