RIVERSIDE, Calif., Aug. 24, 2016 /PRNewswire/ -- The
City of Riverside is the latest
community in the area to offer Renew Financial's CaliforniaFIRST
program thanks to an affirmative vote of the city council last
night. CaliforniaFIRST provides cost-saving financing to thousands
of eligible property owners for environmentally friendly home
energy upgrades that are then repaid on property taxes.
The Tuesday night vote by the city council offers residential
and commercial property owners the chance to take advantage of
important financing options for renewable energy and energy
efficiency upgrades, as well as water efficiency measures, and
electric vehicle (EV) charging infrastructure. PACE (Property
Assessed Clean Energy) financing, which has been adopted by more
than 200 cities and counties across the state, makes energy and
water efficiency projects more accessible for California homeowners by providing project
financing that is then paid back as a line item on their annual
property tax bill. Now property owners throughout Riverside County and the greater San Bernardino County can immediately take
advantage of it. CaliforniaFIRST's PACE financing program allows
homeowners to choose a participating contractor in their area and
install a variety of custom-tailored clean energy, water efficiency
and EV charging projects.
"We are committed to providing California homeowners with a simple way to
finance upgrades that improve properties while saving energy, water
and money," said Cisco DeVries, CEO of Renew Financial. "Homeowners
in Riverside now have an important
choice when it comes to lowering their bills and reducing their
energy and water usage. By selecting PACE, they are joining
millions of their fellow Californians in the effort to reduce
greenhouse gas emissions and save water at the same time. We are
thrilled to continue our expansion into Riverside and San
Bernardino counties and provide the entire region with
options to save money and improve the value of their homes."
"We are happy that CaliforniaFIRST PACE financing option is one
of several new PACE programs that homeowners and commercial
property owners in Riverside can
utilize to make crucial energy upgrades," Mayor Rusty Bailey said. "Competition is a good thing
for consumers and the anticipated increase in PACE volume in our
city will also help create and sustain local jobs in the contractor
community."
For more information please visit:
www.californiafirst.org.
About CaliforniaFIRST
The CaliforniaFIRST Program is a
Property Assessed Clean Energy (PACE) financing program for
residential and commercial properties. Administered by Renew
Financial, a national clean energy finance company, CaliforniaFIRST
allows property owners to finance the installation of energy and
water improvements on homes or businesses through the issuance of a
municipal bond, which can then be paid back as a line item on their
property tax bill. CaliforniaFIRST financing doesn't rely on a
credit score and does not require any money down, opening the
program to a wide range of Californians. For
more information:www.californiafirst.org.
About Renew Financial
Renew Financial is one of the
nation's leading clean energy financing companies. Founded in 2008
by former White House appointee and U.S. Department of Energy
official Cisco DeVries, who originated the concept of Property
Assessed Clean Energy (PACE), Renew Financial now provides multiple
financing products across the country. 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. Named by Scientific
American as one of the top 20 ideas that can change the world, PACE
was identified as a national clean energy policy priority by
President Obama in 2015, and received favorable regulatory guidance
from the Federal Housing Administration (FHA) in July 2016.
Renew Financial's other financing products include residential
unsecured loans (ReHome), 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
LLC.
Additional information may be found at
renewfinancial.com | @RenewFinancial | LinkedIn | Facebook |
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SOURCE Renew Financial