Renew Financial hits $1 billion in funded projects

Written By: Stratton Report
January 26, 2017

Renew Financial

On January 26, Renew Financial, a provider of PACE finance, announced that it had $1 billion in funded projects across its programs.

Renew Financial also stressed that it had recently expanded its business to Florida. The firm indicates that it will continue to seek expansion opportunities across the 33 states which have passed PACE-enabling legislation.

Cisco DeVries, CEO of Renew Financial remarked: “Demand for money-saving residential efficiency and renewable energy upgrades is soaring across the country, and all indicators show strong growth ahead. This milestone reinforces a clear message: Policy makers across the political spectrum, contractors, homeowners, and investors are using the power of our financing products to save energy, save money, create jobs, and produce environmental benefits. This is a true win-win.”

Gannesh Bharadhwaj, President of Renew Financial noted: “The achievement of $1 billion in funded project volume is a testament to the importance of our financing solutions in the marketplace. Through our competitive, customer-friendly financing options, we have helped thousands of homeowners access the capital they needed to meet urgent home repair or replacement needs, or to take a proactive approach to lowering their energy or water consumption. As a result, our customers are living more comfortably and affordably, and we are saving our natural resources at the same time. We are proud to be making a difference in the lives of so many American homeowners.”

Ilan Benisty, CEO of Energy Remodeling, a Renew Financial Elite Preferred Contractor. Observed:

“Energy Remodeling has seen tremendous growth across California and Renew Financial has been an important part of that journey. Their financing is an important tool for helping our customers invest in energy efficiency projects for their homes. As we look to expand our operations to Florida, we are excited to continue working with Renew Financial to open up a new market of growth for both our companies. We are proud to have been a part of their achievement.”

Kirk Inglis, CFO of Renew Financial commented: “Renew Financial has filled an important financing need in the market. Rather than force homeowners to pay for their efficiency projects using credit cards at high and potentially variable interest rates, our PACE financing provides homeowners with fixed-rate, fixed-payment financing at rates similar to home equity loans, eliminating the uncertainty associated with other payment methods. These financing benefits, combined with the strong consumer protections we have in place which ensure cost-effective products are installed, create a compelling solution for homeowners and has led to this milestone in our history.”