Renew Financial, a clean energy finance company, has reached a milestone of $1 billion in funded projects across its Property Assessed Clean Energy (PACE) and EnergyLoan financing programs. Reaching this milestone demonstrates the success of Renew Financial’s promise to partner with homeowners to make affordable and easy the process of upgrading their home with energy efficiency, renewable energy and water efficiency innovations.
Award-winning national financial services company eclipses 80,000 projects across 15 states creating thousands of jobs along with cost savings for homeowners.
Renew Financial has helped to:
• Create more than 15,000 jobs across 15 states
• Conserve 877,176,637 gallons of water – enough water for 48 million showers
• Realize over $1.5 billion in energy savings over the life of its projects
• Cut total greenhouse gas emissions by 2.3 million metric tons – equivalent to the yearly emissions of 485,000 cars
• And fund nearly 83,600 projects through the end of 2016
Renew Financial’s goal of making home efficiency upgrades affordable and transparent adheres to the highest standards, including government accountability and partnership agreements, an unmatched and enthusiastic contractor network and the industry’s strongest consumer protections.
Having reached $1 billion in funded projects, Renew Financial recently expanded its business to Florida, where many homeowners and businesses will now benefit from Renew Financial’s financing options that make home efficiency upgrades affordable. Going forward, Renew Financial will continue to seek expansion opportunities across the 33 states which have passed PACE-enabling legislation.
Renew Financial was founded in 2008 by former White House appointee and U.S. Department of Energy official Cisco DeVries, who originated the concept of Property Assessed Clean Energy (PACE), Renew Financial now provides multiple financing products across the country. PACE enables property owners to finance the entire cost of energy and water efficiency and renewable energy upgrades to their homes and businesses, and then repay those costs on their property tax bill. Named by Scientific American as one of the “top 20 ideas that can change the world,” PACE was identified as a national clean energy policy priority by President Obama in 2015, and received favorable regulatory guidance from the Federal Housing Administration (FHA) in July 2016.