Renew Financial

What Renew Financial does

Renew Financial Group LLC is a residential Property Assessed Clean Energy (PACE) financing provider headquartered in Oakland, California, operating across California and Florida under two consumer-facing programs: CaliforniaFIRST and RenewPACE. The company finances home improvement projects including solar panels, HVAC, roofing, windows and doors, water-efficient landscaping, hurricane protection, seismic retrofits, and (as of March 2026) flood and water damage mitigation. Financing is structured as a special assessment on the homeowner's property tax bill, repaid over 5 to 30 years with no FICO requirements, 100% financing up to $250,000, and fixed rates; qualification is based on property equity, tax payment history, and income rather than credit scores.

The underlying platform is a PACE program administrator with regulatory licenses from the California Department of Financial Protection and Innovation (PACE Program Administrator License #60DBO-90653), DFPI Finance Lender licenses held through subsidiary Renew Financial I LLC, and NMLS registrations across three entities. Operationally, Renew Financial acquires customers through a direct-to-consumer digital self-serve application, a U.S.-based customer care center, a vetted registered contractor network, and community/municipal relationships; the contractor channel requires PACE-specific certification and is a key mid-funnel referral pathway.

The business model generates revenue from the net interest spread between cost of capital (warehouse lines, securitizations, forward flow agreements) and interest charged to homeowners on PACE assessments, supplemented by transaction and program administration fees. Capital is sourced and recycled through $245M in revolving credit facilities (Nomura, ING Capital, LL Funds, October 2023), a $159.2M securitization (October 2024), and a $175M forward flow agreement with 26North Partners (June 2025). The company has funded more than $2 billion in PACE projects cumulatively, with reported environmental impact of roughly 2 million metric tons of greenhouse gas reductions and 2.7 billion gallons of water saved.

Name

Renew Financial

Legal name

Renew Financial Group LLC

Website

https://renewfinancial.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

101–250 employees

Short description

Renew Financial is a residential Property Assessed Clean Energy (PACE) financing provider serving homeowners in California and Florida, financing energy efficiency, hurricane protection, seismic, and resilience upgrades repaid through property tax assessments over 5 to 30 years.

Ownership category

akta.pro rank

Product category

Residential PACE Financing

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Energy Efficiency & Green Retrofit Financing (FSALAHAK)

akta.pro secondary industries

Renovation/Remodel-to-Perm Financing (Owner-Occupied) (FSALAHAF), Renovation Mortgage Origination (FHA 203(k), HomeStyle, CHOICERenovation) (FSALAAAL)

Keywords

• PACE financing
• Property assessed clean energy
• Residential energy lending
• Home improvement loans
• Clean energy financing

Headquarters

HQ city

Oakland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. PACE Assessment Financing: Renew Financial generates revenue through financing home improvement projects via the PACE program. Homeowners receive 100% financing for qualifying projects (energy efficiency, water conservation, hurricane preparedness, seismic upgrades) and repay the cost through a special assessment added to their property tax bill over 5-30 years. The company earns interest on the financed amounts and collects fees from program administration. Revenue is derived from the spread between cost of capital (warehouse lines, securitizations) and the interest charged to homeowners on PACE assessments.
2. Securitization and Capital Markets: Renew Financial periodically securitizes pools of PACE loans (e.g., $159.2 million securitization in October 2024, Renew 2023-1 securitization closed August 2023) to generate liquidity and recycle capital for new lending. They also maintain revolving credit facilities with institutional investors to fund ongoing loan originations.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Renew Financial provides residential Property Assessed Clean Energy (PACE) financing that allows homeowners in California and Florida to fund 100% of qualifying home improvements — including solar, HVAC, roofing, windows/doors, water-efficient landscaping, hurricane protection, and seismic retrofits — with no money down and no FICO credit score requirements. Repayment is made through a special assessment on the homeowner's property tax bill over flexible 5-30 year terms, with funding amounts up to $250,000. The company operates under the CaliforniaFIRST brand in California and the RenewPACE brand in Florida.

Product overview

Renew Financial is a residential Property Assessed Clean Energy (PACE) financing provider operating as a single unified platform in California (under the CaliforniaFIRST brand) and Florida (under the RenewPACE brand). The core product is PACE financing that allows homeowners to finance 100% of qualifying home improvement projects with no money down, repaying through property tax assessments over 5-30 years. The portfolio includes financing for solar panels, windows and doors, HVAC systems, roofing, water-efficient landscaping, hurricane protection, earthquake/seismic retrofit, and water heaters. All offerings share the same PACE financing infrastructure with features like no FICO requirements, fixed rates, and flexible repayment terms.

Differentiator

Problem solved

Functional benefit

Products and services

• CaliforniaFIRST Property Assessed Clean Energy (PACE) financing program offered to California homeowners to fund qualifying energy, water, and safety home improvements, with repayment through a special assessment added to the homeowner's property tax bill. Financing up to $250,000 with no money down, no FICO requirement, fixed rates, and terms up to 30 years.
• RenewPACE Property Assessed Clean Energy (PACE) financing program offered to Florida homeowners to fund qualifying energy efficiency, renewable energy, hurricane protection, and resiliency upgrades, repaid on property taxes over 5-20 years. Financing up to $250,000 with no money down, no FICO requirement, and fixed rates.

Quantifiable outcome

• Greenhouse gas reductions of nearly 1.5 million to 2 million metric tons (equivalent to removing 300,000-416,000 cars from the road)
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Broward County Water Matters DayminorStrategic or Co-development PartnerRenew Financial sponsors Broward County Water Matters Day, one of Broward County's largest environmental initiatives, for the third consecutive year. The event offers educational exhibits and resources to help residents learn water conservation practices.

Scale indicators7 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Ygrene Energy Fund: Ygrene is one of the largest residential and commercial PACE financing providers in the U.S., directly competing with Renew Financial in California and Florida through similar property-tax-assessment-based origination models and contractor channel strategies.
• GoodLeap (formerly Loanpal): GoodLeap is a major point-of-sale residential solar and home improvement financing platform and a significant PACE participant, directly comparable in funding scale, contractor channel, and consumer credit underwriting to Renew Financial.
• Dividend Finance: Dividend Finance is a residential and commercial PACE and renewable energy lender operating across multiple states with similar securitization practices and contractor distribution—directly comparable to Renew Financial's product set.
• Sunlight Financial: Sunlight Financial provides residential solar and home improvement financing through a contractor-driven channel and securitizes loans in ABS markets—closely paralleling Renew Financial's GTM and capital structure.
• HomeIQ (Petros PACE Finance affiliate): Petros PACE Finance offers residential PACE financing in multiple states with similar property-tax-based underwriting and contractor channel dynamics, making it a direct competitor in adjacent geographies.
• Mosaic: Mosaic is a residential solar and home improvement loan originator with securitization-backed funding, comparable to Renew Financial in target customer, contractor channel, and capital structure despite different state footprint.

Broad incumbents

• EnerBank USA (CMS Energy subsidiary): EnerBank is one of the largest home improvement point-of-sale lenders in the U.S. with similar unsecured home improvement loan products and contractor channel distribution, operating at much larger scale as part of CMS Energy.
• GreenSky (Goldman Sachs): GreenSky provides point-of-sale home improvement financing through a large contractor network and was acquired by Goldman Sachs. It is a broader incumbent offering credit-based financing, a partial alternative to PACE.
• LightStream (Truist): LightStream offers unsecured home improvement loans online as part of Truist; it competes for the same homeowner use cases but requires strong credit, making it an adjacent incumbent rather than a direct PACE peer.

Emerging players

• Figg Capital Partners: Figg Capital is a specialty finance and advisory firm active in PACE and clean energy asset markets, providing capital markets support and structuring to PACE programs comparable in focus to Renew Financial's securitization activities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks1 record

Key highlights7 records

Customer concentration

• Xx.com/renewfinancial
• Facebookfacebook.com/renewfinancial
• LinkedInlinkedin.com/company/renewable-funding-llc

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds6 records

Investors12 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Renew Financial