In an attempt to drive widespread sustainability, Renew Financial is expanding energy-saving opportunities across Florida’s largest cities.
Eco-friendly roofing, wind-resistant windows, efficient air conditioning and insulation are just a few of the updates available through the program. While helping secure homes and commercial properties in high-risk zones, the company says clean energy also cuts utility costs.
Residential and commercial property owners in the Sunshine State are invited to join 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. Parts 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 one of the first firms to use the property assessed clean energy (PACE) financing model for financing cleaner energy and already holds a footing in California; it also provides alternative financing programs in New York and Pennsylvania. The company says it has 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 after a $70 million funding round in partnership with Rainforest Trust.
Energy efficiency benefits in Florida
For some Floridians, critical climate-related upgrades, including protection against floods, hurricanes and heat, are important home additions. Many environmentally conscious renovations enhance protection against natural disasters, and the announcement falling in the midst of hurricane season is aptly timed.
With help from state and local government, RENEW Financial developed its own well-known PACE financial model, which supports homeowners and the local economy through job creation. The Federal Housing Administration and Department of Veterans Affairs announced support of PACE financing in July.