PALM SPRINGS, Calif., May 6, 2016 /PRNewswire/ -- Following on the heels of extensive PACE financing adoption throughout the State of California, the City of Palm Springs is the latest community to offer Renew Financial's CaliforniaFIRST program. 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 recent 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 the Palm Springs area 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.
"Palm Springs homeowners know better than most the importance of having an energy efficient home and now they have an additional convenient PACE financing option to make crucial home upgrades that will help their homes stay cooler in our extreme temperatures and take advantage of the solar potential," said Geoff Kors, Council member for Palm Springs. "Our many commercial properties and multi-family residential properties will also be able to take advantage of this great program. The City of Palm Springs is committed to a sustainable community and we are delighted this new program will now be available to help residents and businesses finance solar energy while helping the environment."
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.
For the latest news from CaliforniaFIRST: https://news.californiafirst.org/.
To hear directly from CaliforniaFIRST customers: https://news.californiafirst.org/category/video/.
About Renew Financial
Renew Financial is one of the nation's leading clean energy financing companies. Founded in 2008 by Cisco DeVries, who created the concept of the Property Assessed Clean Energy (PACE) financing model, Renew Financial now provides multiple financing products across the U.S. PACE — which was endorsed by President Obama and named by Scientific American as one of the top 20 ideas that can change the world — 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. Renew Financial's other financing products include residential unsecured loans (ReHome), utility on-bill financing, and others.
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SOURCE Renew Financial