WRCOG Partnership Extends Clean Energy Financing To more of Riverside County
As a result of a new partnership with the Western Riverside Council of Governments, Renew Financial’s Affordable Clean Energy Financing is Now Available to Nearly 90 Percent of
Riverside, CA – The Western Riverside Council of Governments (WRCOG) announced today a new partnership with Renew Financial, a leading clean energy finance company, to offer its CaliforniaFIRST Property Assessed Clean Energy (PACE) financing program to 14 WRCOG member jurisdictions in Riverside County, allowing even more homeowners to make affordable home efficiency and renewable energy upgrades. Through this new partnership, Renew Financial’s CaliforniaFirst program now offers competitive, customer friendly financing, providing homeowners with a choice between this and other PACE providers available in this area, specifically the HERO Program, which has operated in Western Riverside County since 2011.
“Now Western Riverside homeowners can join nearly 90 percent of Californians in taking advantage of our affordable, consumer-friendly financing options for energy efficiency upgrades, rooftop solar, water conservation and other home improvement projects,” said Cisco DeVries, CEO of Renew Financial. “This expansion will help more homeowners live comfortably, create new business opportunities for local contractors, produce more jobs in the area and increase environmental and public health benefits for Riverside County. We’re thrilled to be part of all of that.”
“Renew Financial’s entry into the Western Riverside territory means one thing: more competition,” said Ben Benoit, Executive Committee Chair of WRCOG. “And more competition means more choices for homeowners to fund their home efficiency upgrade projects and save money, while helping drive local economic activity. That’s why we’re excited about Renew Financial providing this additional financing option for our communities.”
Under the new partnership, the CaliforniaFirst financing program is now available to homeowners in 14 Western Riverside cities: Banning, Calimesa, Canyon Lake, Corona, Eastvale, Hemet, Jurupa Valley, Lake Elsinore, Menifee, Murrieta, Norco, Perris, Temecula and Wildomar. WRCOG will continue to serve as program administrator for both HERO and CaliforniaFirst, providing general oversight and implementing the same exceptional standards for consumer protection and customer satisfaction region-wide.
With the expansion of CaliforniaFIRST into these 14 cities, the financing program now offers the opportunity for efficiency upgrades to more than 300,000 homes in Western Riverside and more than six million homes statewide.
Already Renew Financial estimates that its financing products have:
- Created more than 15,000 jobs across 15 states
- Conserved 877,176,637 gallons of water – enough water for 48 million showers
- Realized over $1.5 billion in energy savings over the life of its projects
- Cut total greenhouse gas emissions by 2.3 million metric tons – equivalent to the yearly emissions of 485,000 cars2
- And funded nearly 83,600 projects through the end of 2016
For more information about the partnership, visit www.renewfinancial.com.
WRCOG is a joint powers authority, consisting of the County of Riverside, 17 cities, two regional water districts, the Riverside County Superintendent of Schools, and the Morongo Band of Mission Indians. Its actions and activities are guided by its members. Recognizing that issues related to growth are not constrained by jurisdictional boundaries, WRCOG focuses on a number of regional matters important to the future of Western Riverside County. By working together through its committee structure and leveraging resources, WRCOG is cost-effective by reducing duplication of effort and sharing information, enabling strong advocacy and strengthening Western Riverside County’s standing in Southern California and the State. WRCOG’s program areas are varied and range from transportation to air quality, solid waste, environment, energy, economy, sustainability, and growth. For more information about WRCOG please visit www.wrcog.cog.ca.us.
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. 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 efficiency, resilience 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 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 Renew Financial Holdings Inc. The Renew Financial CaliforniaFIRST financing program is sponsored by the California Statewide Communities Development.