Renew Financial Debuts New Preferred Contractor Program

October 4, 2016

Multi-Layer Program Recognizes Contractor Excellence and Promotes Mutual Business Growth

Oakland, CA – October 4, 2016 – Renew Financial announced this week the introduction of a new recognition and reward program designed to showcase the performance of its top contractors and support those relationships with marketing, pipeline development, training and enhanced interaction resources.  These program features, which have the ultimate objective of driving revenue growth for contractors and Renew Financial, are awarded to the top contractors of Renew Financial’s enrolled contractor base.

Beginning in Q4, Renew Financial will deploy marketing, sales and training resources in a multi-faceted effort to build contractor sales effectiveness, drive brand recognition for contractors in local markets, build contractor pipelines through direct lead generation, and recognize contractor service and sales excellence.  Contractors will select program features which meet the particular needs of their business and then collaborate on the implementation of those features with Renew Financial.

“The selection process for entry into our Preferred Contractor Program is based on the strength of the contractor and their commitment to our CaliforniaFIRST financing program, as well as to the overall relationship,” said Jeff Cavros, Executive Vice President of Sales for Renew Financial.  “We are committed to building the business of all of our enrolled contractors, but our preferred contractor group receives incremental support from us given the strategic importance of these relationships.”

Contractors are invited into either a “Preferred” or “Premier” status level based on several factors including their historical activity using Renew Financial products, quality of work as reported by homeowners, customer service response levels and commitment to honest and transparent engagement with homeowners.

Gannesh Bharadhwaj, President of Renew Financial added “We have seen tremendous growth in the adoption of PACE financing among homeowners seeking to reduce their energy consumption through renewable energy and energy efficiency projects.  We attribute much of that success to our preferred contractors who are meeting the energy-related project needs of property owners across our service footprint.”

Given its growth trajectory, Renew Financial anticipates increasing the number of preferred contractor program invitations extended to contractors.  The company also projects it will provide incremental benefits to its contractor base in 2017 as additional program features are developed. 

About Renew Financial 

Renew Financial was founded in 2008 by Cisco DeVries, who originated the idea of the Property Assessed Clean Energy (PACE) financing model. Endorsed by President Obama and named by Scientific American as one of the top 20 ideas that can change the world, PACE enables property owners to finance the entire cost of energy and water efficiency and renewable energy upgrades to their homes and businesses, and then repay those costs on their property tax bill. PACE is also a central component of a major White House clean energy initiative unveiled in August 2015. Renew Financial’s other financing products including the Warehouse for Energy Efficiency Loans (WHEEL), which opens the residential energy efficiency finance market to large institutional investors.