Reduce your home's water usage with efficient indoor plumbing, beautify your property with drought tolerant landscaping, and more.
RenewPACE: Innovative energy financing for homeowners
With RenewPACE financing, you can receive $0 down financing for energy efficiency, renewable energy, water-saving, and resiliency upgrades, repaid on your property taxes over the course of 5-30 years. With RenewPACE financing, the amount you can borrow is based on your home equity, and the interest rate is fixed, with no surprises. You can borrow up to 20% of your property value, and the balance may transfer to the new owner upon sale of the property, subject to lender approval.
Offered in cooperation with local governments, RenewPACE is simple and easy to use with superior customer support.
Generate your own electricity with a solar or wind system, heat your pool with a solar hot water heater, charge your electric vehicle, and more.
Upgrade to a new heating and cooling system, install new windows and doors, insulate your home, and more.
Prepare your home for severe weather with wind-resistant shingles, storm shutters, storm doors, and more.
No, there is no fee to apply for Renew Financial PACE programs.
As part of the application, Renew Financial requests a credit bureau report for each homeowner. FICO score is NOT used as part of the application, but other elements of the credit report such as mortgage payment history are necessary to determine eligibility for financing.
In order to participate, contractors must be registered with Renew Financial. As long as contractors meet program requirements, they can register by visiting renewfinancial.com/renewpace. All participating contractors must have a valid and active contractor’s license.
We encourage you to pursue available Federal Investment Tax Credits (ITCs), utility rebates and any other incentives. All or a portion of total incentives may be subtracted from the amount financed under the program; however, it is not required that the financed amount be reduced by the estimated value of the incentives. Once you receive your rebates and tax credits, those funds may be used to pay down the PACE assessment balance; resulting in lower annual PACE assessment payments.
According to the IRS, "the interest portion of your payment may be deductible as home mortgage interest." Actual tax savings will depend on the marginal rate of your federal and state income taxes, annual income, and other factors. Consult with your tax advisor to determine if, and to what extent, you may deduct amounts paid under the Assessment Contract.
Renew Financial staff are available 8 a.m. to 9 p.m. Monday to Friday, 9 a.m. to 6 p.m. Saturday, and 10 a.m. to 6 p.m. Sunday to answer additional questions. We can also be reached via email at email@example.com or by phone at 844-736-3934.