Today, Renew Financial announced the successful investment of over $100M in storm-hardening and home resilience-related projects in Florida over the last three years. PACE programs allow qualified property owners to finance the costs of storm safety, resilience, and sustainable home improvements at a fixed interest rate with flexible repayment terms.
With the prospect of climate change and powerful storms continuing to grow, homeowners across the Sunshine State are increasingly turning to PACE to make critical safety improvements to their properties. The most popular resilience-related projects funded by Renew Financial include wind-resilient roofs, roof-to-wall reinforcements, and hurricane impact windows and doors. These home upgrades enable Florida homeowners to better protect their families, reduce home insurance premiums, and collectively avoid tens of millions in potential property damage.
Renew Financial originally developed PACE as a low-cost, upfront financing solution for a broad range of homeowners, particularly those who traditionally have greater difficulty accessing affordable financing. Beyond the numerous financial benefits PACE offers homeowners, state and local governments also use PACE as an effective public policy tool to advance critical storm safety and home resilience efforts in vulnerable geographic regions, like South Florida.
Kirk Inglis, CEO of Renew Financial, commented: “Building home resilience and strengthening local communities on a large scale is central to Renew Financial’s mission. Each year, we see more and more Florida homeowners looking for safe and cost-effective ways to strengthen their homes, and PACE has quickly become their go-to solution. To help meet this rising demand for affordable financing, Renew Financial is excited to double down on our investments in Florida as we continue efforts to expand access to PACE more broadly.”
Click here to see how Renew Financial is helping build resilience in Florida.
About Renew Financial
Renew Financial Group LLC (Renew Financial) is one of the nation’s leading providers of financing for sustainable building improvement projects with a bold vision to create financial access to a safe, healthy and sustainable world.
Currently, Renew Financial administers and provides multiple financing products across the country, including Property Assessed Clean Energy (PACE) programs operating in California and Florida. These PACE-financed projects help to strengthen communities by making homes and businesses safer, more energy efficient, and more valuable.
As an alternative financing solution, PACE is an effective policy tool enabled by state and local governments that provides homeowners and business owners with access to private capital to finance the full costs of renewable energy, energy efficiency, water conservation, safety, and resilience-related upgrades. To date, PACE projects financed by Renew Financial have led to greenhouse gas reductions (GHGs) equivalent to removing over 264,000 cars from the road. Renew Financial is a trademark of Renew Financial Holdings, Inc. Additional information may be found at renewfinancial.com.