White House Announces Property Assessed Clean Energy (PACE) Program as Major Part of `Recovery through Retrofit`; Renewable Funding Envisioned the Model and is National Leader in Financing PACE Programs

Company president Cisco DeVries joined Vice President Biden at White House event
this morning announcing national energy retrofit and green jobs plan

WASHINGTON--(Business Wire)--
Today at the White House, Vice President Biden released his `Recovery through
Retrofit` plan to expand green job opportunities in the United States and boost
energy savings for middle class Americans by retrofitting homes for energy
efficiency. The `Recovery through Retrofit` report, which was developed by the
Vice President`s Middle Class Task Force, is a roadmap to create new green jobs,
provide financial relief to middle-class families, and reduce greenhouse gas
emissions.

The plan includes a national pilot program to provide significant federal funds
to support the development and implementation of Property Assessed Clean Energy
(PACE) programs across the country. PACE programs, which are public-private
partnerships with state and local governments, allow private property owners to
pay for energy efficiency and renewable energy improvements through a voluntary
property tax assessment. `Recovery through Retrofit` includes a detailed policy
framework for implementing pilot PACE programs
(http://www.whitehouse.gov/assets/documents/PACE_Principles.pdf). The founders
of Renewable Funding developed the PACE concept and the firm is now the national
leader in administering and financing PACE programs.

"Renewable Funding is a strong supporter of the Obama Administration`s efforts
to create jobs, reduce energy costs for families, and reduce our carbon
footprint," said Cisco DeVries, President of Renewable Fundingand originator of
the PACE concept. "The upfront costs of undertaking clean energy projects often
prevent property owners from going solar or improving the energy efficiency of
their homes and businesses. By spreading the project costs over up to 20 years
through a property tax assessment, PACE overcomes this hurdle and enables
homeowners and businesses to make retrofits with no up-front capital costs."

Renewable Funding provides services to programs in several municipalities in
Colorado and California, with dozens more in the planning phase. To date,
legislation to enable PACE programs has been adopted in 14 states. Former
President Clinton recently announced an effort by the Clinton Global Initiative
to push for 50 municipalities to adopt the PACE model on an accelerated
schedule. Renewable Funding is part of the PACE NOW Coalition and is an
"implementation partner" in the Clinton Global Initiative effort.

Renewable Funding created a turnkey program to assist municipalities with
rolling out PACE programs. The company provides comprehensive education,
implementation guidance, on-line application processing and administrative
solutions, and a financial package that ensures low interest rates to property
owners. With the announcement of the Vice President`s new program, Renewable
Funding is prepared to serve as an information source and to administer PACE
programs in municipalities around the country.

To learn more about Renewable Funding President Cisco DeVries, please see this
recent profile article in Miller-McCune magazine: Francisco Devries invents a
financing mechanism that makes rooftop solar affordable in Berkeley and other
cities (http://www.miller-mccune.com/science_environment/solar-system-1270). Mr.
DeVries is available for interviews on this topic and is in Washington, DC on
Monday and Tuesday, October 19-20, 2009. To arrange an interview please call
Severn Williams at 510-336-9566.

Renewable Funding (www.renewfund.com)is the nations` leader in providing
financing and administration for property assessed solar and energy efficiency
improvements. A UC Berkeley study published earlier this year in Environment
Magazine found the potential for $280 billion in financing for PACE-type
programs and a potential reduction of a gigaton of greenhouse gas emissions if
the program were to expand nationally.

for Renewable Funding
Severn Williams
w. (510) 336-9566
c. (415) 336-9623
sev@sevwilliams.com

Copyright Business Wire 2009