July 31, 2014: Renovate America Closes $50 Million Equity Investment
Provides Financing for Home Improvements Including High-Efficiency HVAC
SAN DIEGO — Renovate America, a leading provider of residential Property Assessed Clean Energy (PACE) financing, announced that it has raised $50 million in growth equity from new and existing investors. Renovate America partners with local municipalities to provide the Home Energy Renovation Opportunity (HERO) financing program to property owners, who use it to finance a variety of home improvements to lower utility bills including high-efficiency HVAC, solar power, and more.
“HERO has helped thousands of homeowners invest in their home to save energy and water,” said JP McNeill, CEO of Renovate America. “We are fortunate to partner with over 165 cities and counties who have made HERO available to their constituents. In addition to helping homeowners save millions of dollars, HERO is helping communities create thousands of local jobs, lower mortgage foreclosures, stimulate local economies, and lower emissions. This additional equity investment will enable us to bring HERO to more cities and counties.”