Renew Financial created and specializes in the residential Property Assessed Clean Energy (R-PACE) program, an affordable long-term financing solution that empowers homeowners to upgrade their homes with eligible safety, resiliency, and energy-efficient products.
Why we invested
Residential energy use accounts for roughly 20% of US greenhouse gas emissions. PACE offers a least-cost financing solution for residential energy upgrades, often to those least able to afford them. Renew Financial is led by a team of experienced financial professionals AND climate leaders. Financing home energy upgrades is a crucial part of the just energy transition, and RF is a leader in the space.
Why this work matters
Through the R-PACE financing program, Renew Financial not only empowers American homeowners to afford eligible safety, resiliency, and energy-efficient home improvements, but it also helps creates a positive impact on the environment and the economy. Through 2021, over 320,000 homeowners have used R-PACE financing resulting in over $15.3 Billion in economic impact (gross economic output), $7 Billion in utility savings, and 32 Billion kWh-e in energy saved.