Unlocking the "secret weapon" to energy savings

June 17, 2015

Climate change is one of the defining challenges of our generation, and we have a moral and ethical obligation to do something about it. Global warming is a reality and utility costs are going nowhere but up. The time has come to do our part as individuals by evaluating the ways in which we power our homes and businesses. Renew Financial is unlocking the "secret weapon" to energy savings for property owners across the nation by pioneering smart efficiency financing programs that make efficiency upgrades affordable.

Energy savings begin at home

You've heard the term before: Think globally, act locally. This starts with your home. By making smart, strategic energy efficiency upgrades, we can save water and energy, increase the comfort and value of our homes, and reduce carbon emissions ег all while saving money on utility bills. We've already seen a significant movement in the numbers of people who are choosing hybrid and electric cars for ideological and practical reasons (gas isn't cheap!). But it is still rare for homeowners to think holistically about their properties as a way to reduce energy use by making them more efficient. It's estimated that within a decade, investments of $500 billion in energy saving improvements would save$1.2 trillion in energy costs and remove1.1 gigatons of carbon from the atmosphere. Obtaining these savings, however, means making upgrades that cost money. Finding a way to finance these upgrades, then, is the key to unlocking their potential. That's where our financing program comes in.

Financing the energy transformation

Renew Financial proudly offers Property Assessed Clean Energy (PACE) financing, a seamless and integrated financing program for home and business owners to make energy efficiency upgrades to their properties with no upfront costs. These upgrades, which are funded by a partnership between Renew Financial and local city and county governments, are primarily offered through our CaliforniaFIRST program. The CaliforniaFIRST program, which offers 100% financing and no out-of-pocket costs, funds a variety of eligible efficiency products, including air conditioners, drought-tolerant landscaping, and more. After completing a streamlined and efficient application process, property owners obtain their efficiency upgrades through a CaliforniaFIRST registered contractor and begin repaying the cost of the upgrades on their property tax bills over the course of up to 25 years. The program has been wildly successful and has hundreds of happy homeowners across the state.

Changing the energy landscape

What started as a small idea in Berkeley in 2007 has grown rapidly since and is changing the way home and business owners source their energy. Our financing program has proven to be the key to unlocking millions of dollars in energy savings while reducing the footprint of homeowners and business owners across the country. As the pioneers of PACE financing, Renew Financial is actively advancing programs that will secure a clean energy future. The transformation in energy is taking root, and the secret weapon of PACE financing (not so secret anymore!) is changing the landscape of the energy industry for the better.