OAKLAND, Calif., May 8, 2017 /PRNewswire/ -- Renew Financial, a leading clean energy financing company, announced today that it has been named a Silver Stevie® Award Winner in the 2017 American Business AwardsSM.
After a highly competitive process, Renew Financial won in the category of Energy Industry Innovation of the Year. Specifically, Renew Financial was recognized for making energy efficiency and clean energy accessible to more Americans through innovative financing tools. Chief among these is Property Assessed Clean Energy (PACE) financing, which empowers property owners to finance the entire cost of certain efficiency and clean energy upgrades to their homes and businesses, then gradually repay those costs as a line item on their property tax bill.
Renew Financial was recognized for outstanding achievements in 2016, including:
- Reaching a milestone of $1 billion in funded residential and commercial renewable energy and energy efficiency projects
- Bringing the firm's money-saving solutions to major new markets ranging from Sacramento, California to Miami-Dade County, Florida
Since the inception of the firm, Renew Financial has also:
- Created more than 15,000 American jobs
- Conserved 877 million gallons of water over the life of financed projects
- Saved $1.5 billion in energy costs over the life of financed projects
- Cut greenhouse gas emissions by 2.3 million metric tons over the life of financed projects
- Financed more than 83,600 home upgrades
"The entire Renew Financial team is pleased and honored to receive this award," said Cisco DeVries, CEO of Renew Financial. "While Renew Financial is a private company, we have a public service mission: to accelerate the adoption of energy efficiency and clean energy innovations that save consumers money while reducing pollution. Coming soon after our most recent successful PACE Securitization and our expansion into new markets in California, this award reinforces that the future is bright at Renew Financial. I sincerely thank our entire team – without their skill and commitment, none of this would be possible."
Stevie Award Judges said of Renew Financial:
- "Only a few firms dedicated to energy efficiency operate on this scale, bringing an innovative solution to the challenge of improving the energy efficiency of existing homes. Well done."
- "This company is certainly doing fantastic things and enabling us to move forward in clean and efficient energy programs. A huge well done and keep up the good work."
The award will be presented to Renew Financial at a ceremony on June 20th at the Marriott Marquis Hotel in New York City.
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.
About the Stevie® Awards
Stevie Awards are conferred in seven programs: Asia-Pacific Stevie Awards, German Stevie Awards, The American Business Awards, The International Business Awards, the Stevie Awards for Women in Business, the Stevie Awards for Great Employers, and the Stevie Awards for Sales & Customer Service. Stevie Awards competitions receive more than 10,000 entries each year from organizations in more than 60 nations. Honoring organizations of all types and sizes and the people behind them, the Stevies recognize outstanding performances in the workplace worldwide. Learn more about the Stevie Awards at http://www.StevieAwards.com
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SOURCE Renew Financial