SAN DIEGO, Feb. 4, 2016 /PRNewswire/ -- Renovate America, the leading provider of residential Property Assessed Clean Energy (PACE) financing in the U.S., has received the Climate Change Business Journal (CCBJ) award for Financing: GHG Mitigation. This award is in recognition of the significant milestones Renovate America achieved in 2015 by utilizing financing as a mechanism for reducing emissions. According to the U.S. Green Building Council, the commercial and residential building sector account for nearly 40 percent of emissions, more than any other sector.
Each year the CCBJ, a thought-leading business research publication on the climate change industry, recognizes outstanding business performance with their CCBJ Business Achievement Awards. The Climate Change Business Journal Awards will be presented at the Environmental Industry Summit XIV on March 9-11, 2016 in Coronado, CA.
"We formed Renovate America to address an obstacle to the adoption of more efficient products in homes – without access to capital, upfront costs prevented many homeowners from purchasing energy-efficient, renewable energy and water-saving products for their homes," said J.P. McNeill, CEO of Renovate America. "Working with local cities and counties, we are providing financing solutions, business automation software, consumer protections and industry-leading customer support, to help thousands of homeowners affordably improve the efficiency of their homes. This award recognizes the positive impact HERO has had on local economies and the environment."
Renovate America, the administrator of the Home Energy Renovation Opportunity (HERO) Program, was recognized for surpassing $1 billion in financing for residential energy-efficiency, water conservation, and distributed solar PV improvements. HERO is the leading residential Property Assessed Clean Energy (PACE) program, having made home energy and water upgrades affordable to more than 50,000 homeowners throughout California in just four years. According to PACENow.org, a total of $1.184 billion in home improvements have been financed through PACE programs nationwide, making HERO the leader with almost 90 percent of national market share.
The $1 billion in improvements and distributed PV financed through HERO are projected to reduce emissions by 1.8 million tons, conserve 6.7 billion kWh of electricity, save homeowners $2 billion on energy bills, and conserve more than 2.1 billion gallons of water over the useful lifetime of the installed products. HERO also has created more than 10,000 jobs and generated aggregate economic impact of more than $1.7 billion in the state of California, with planned expansion into other states in 2016.
From October-December 2015, CCBJ solicited industry, government, nonprofits and the broader climate change community via email, social media, its website, industry events, and word-of-mouth for nominations for the 2015 CCBJ Business Achievement Awards. Final awards were determined by a committee of CCBJ staff and CCBJ editorial advisory board members
About Renovate America
Renovate America is the fastest-growing provider of financing for energy and water efficiency home improvements in the U.S. The company's HERO Program provides local governments with a comprehensive residential PACE financing solution that also includes consumer protection, business automation software, workforce training and ongoing access to private capital. This unique public-private partnership offers consumers access to more than 60 types of products that reduce energy and water consumption, without the need for government funding. The HERO Program has received a number of awards including the Governor's Environmental and Economic Leadership Award in California, the Urban Land Institute Best of the Best, and the Southern California Association of Governments President's Award for Excellence. Additional information can be found at www.renovateamerica.com and www.heroprogram.com.
Founded in 1988, Environmental Business International Inc. (EBI, San Diego, Calif.) is a research, publishing and consulting company that specializes in defining emerging markets and generating strategic market intelligence for companies, investors and policymakers. EBI publishes Environmental Business Journal®, the leading provider of strategic information for the environmental industry, and Climate Change Business Journal®, which covers nine segments of the Climate Change Industry. EBI also performs contract research for the government and private sector and founded the Environmental Industry Summit, an annual three-day event for executives in the environmental industry.
About the CCBJ Business Achievement Awards
In October-December 2013, Climate Change Business Journal solicited nominations for the EBJ Business Achievement Awards. Nominations were accepted in 200-word essays in either specific or unspecified categories. Final awards were determined by a committee of CCBJ staff and CCBJ editorial advisory board members. (Disclaimer: company audits were not conducted to verify information or claims submitted with nominations.)
SOURCE Renovate America