Miami Beach Opts-In To RenewPACE Program, Enabling Homeowners to Finance Energy Efficiency and Critical Hurricane Protection Measures
Miami Beach Joins Growing Number of Local Florida Governments to Empower Homeowners with RenewPACE in the Wake of Hurricane Matthew
Miami Beach, FL – Renew Financial, a leader in wind resistance and energy efficiency financing, today announced the City of Miami Beach has joined the RenewPACE program. Homeowners in Miami Beach will now have the ability to use RenewPACE financing to make eligible improvements that strengthen their homes.
“In the wake of Hurricane Matthew, we are reminded of the critical importance of the City of Miami Beach's efforts to adapt to climate and coastal impacts,” said Commissioner Kristen Rosen Gonzalez. “Now that we have approved RenewPACE, our third PACE provider in the city, it is clear we are serious about giving homeowners access to this effective financing mechanism, which enables homeowners to make their homes healthier and more secure.” Commissioner Rosen Gonzalez continued, “We are committed to making sure our homeowners have a choice among PACE providers. The presence of multiple providers creates a competitive and consumer-friendly marketplace that allows property owners to find the best solution for their situation.”
PACE financing allows property owners to finance the entire cost of wind resistance, energy efficiency, and renewable energy upgrades to their homes and businesses and then repay those costs as a line item on their property tax bill.
Israel La Red, the owner of FB Doors, a company specializing in anti-hurricane improvements added, “Hurricane Matthew was a close call, but it’s not the last hurricane Floridians will face. Our customers know that another hurricane is coming eventually, but many of them don’t have the surplus cash available to make important upgrades to their homes—upgrades that will make their homes more secure for their families. RenewPACE enables us to help those homeowners, while also creating local jobs and increasing property values. It’s a win for everyone.”
About Renew Financial
Renew Financial is one of the nation’s leading resilience and clean energy financing companies. Founded in 2008 by former White House appointee and US Department of Energy official Cisco DeVries—who first developed the concept of Property Assessed Clean Energy (PACE)—Renew Financial now provides multiple financing products in states across the country. In 2009, PACE was named by Scientific American as one of the top 20 ideas that can change the world. PACE was subsequently identified by the Obama Administration as a national policy priority and, in July 2016, it received favorable regulatory guidance from the Federal Housing Administration (FHA) and the Veterans Administration (VA).
Renew Financial’s other financing products include residential consumer loans (RenewPACE), utility on-bill financing, and others. Renew Financial partners with Rainforest Trust to preserve endangered rainforests with a donation made for every completed project. Renew Financial is a pending trademark of Renewable Funding Group, Inc.
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