In an effort to drive widespread sustainability, Renew Financial is expanding energy-saving opportunities across Florida’s largest cities.
Renew provides energy efficiency financing to Florida
Residential and commercial property owners in the Sunshine State are invited to participate in Renew’s upgrade program, RenewPace, with no down payment and low interest financing, paid over time as a line item tacked onto property taxes.Property owners across Orlando, Satellite Beach, Doral and Alachua County have the opportunity to go green easily with RenewPace. Portions of Broward, Pasco, Pinellas, Martin, Indian River and Palm Beach counties also qualify. Commercial property owners in Escambia can opt in as well.
Renew Financial is among the first firms to use the property assessed clean energy (PACE) financing model for financing cleaner energy and already holds a footing in California; additionally, it provides alternative financing programs in New York and Pennsylvania. The company says they have helped over 70,000 homeowners accomplish $750 million in energy improvements.
The company recently secured $123 million in residential Property Assessed Clean Energy (PACE) bonds in June following a $70 million funding round together with Rainforest Trust.
Energy efficiency benefits in Florida
For some Floridians, critical climate-related upgrades, including protection against floods, hurricanes as well as heat, are important home additions. Many environmentally conscious renovations enhance protection against natural disasters, as well as the announcement falling in the midst of hurricane season is aptly timed.
With help from local and state government, RENEW Financial developed its own well-known PACE financial model, which can help homeowners as well as the local economy through job creation. The Federal Housing Administration and Department of Veterans Affairs announced support of PACE financing in July.