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Renew Financial Applauds Advancement Of Fire Hardening Act Of 2026 In Senate Committee
(MENAFN- EIN Presswire) EINPresswire/ -- Renew Financial, a pioneer and leading provider of residential Property Assessed Clean Energy (PACE) financing, today applauded the advancement of SB 1041, the Fire Hardening Act of 2026, from the Senate Local Government Committee. Authored by Senator Jesse Arreguín (D-Oakland), the legislation expands access to PACE financing to help California homeowners invest in critical wildfire resilience upgrades.
“Recent catastrophic wildfires have accelerated efforts to advance climate resiliency efforts across the state, yet expensive but vital home hardening projects remain out of reach for too many homeowners,” said Senator Jesse Arreguín.“SB 1041 will protect communities by providing innovative and affordable financing options to assist homeowners in defending their homes from wildfires.”
As wildfires grow more frequent and destructive across California, homeowners are increasingly seeking ways to strengthen their properties against risk. In 2018, the California legislature recognized this and passed SB 465, which allowed PACE for fire hardening, but unfortunately, drafting issues limited its availability.
SB 1041 corrects these issues and modernizes the program, building on the existing PACE framework by clarifying eligible fire-hardening improvements and expanding access to homeowners beyond those in very high fire severity zones.
“California homeowners need practical, affordable tools to protect their homes as wildfire risk continues to rise,” said Vinay Gupta, CEO of Renew Financial.“SB 1041 is a commonsense solution that expands access to financing for critical home hardening improvements while maintaining strong consumer protections. Renew Financial is proud to support Senator Arreguín's leadership and applauds today's committee passage as an important step toward building safer, more resilient communities.”
PACE financing allows homeowners to fund eligible improvements with no high upfront costs, repaying the investment over time through a voluntary property tax assessment. Eligibility is based primarily on home equity and ability to repay, making it a flexible option for homeowners who may not qualify for traditional financing.
With strong consumer protections and oversight from the California Department of Financial Protection and Innovation, PACE has proven to be a safe and effective tool for helping homeowners invest in resilience while supporting broader public policy goals without requiring taxpayer funding.
SB 1041 now advances to the Senate Appropriations Committee.
About Renew Financial
Renew Financial Group LLC (Renew Financial) is a leading residential Property Assessed Clean Energy (PACE) financing provider in Florida and California. The company is dedicated to driving resiliency and environmentally beneficial projects through the residential PACE program. Renew Financial has funded more than $2 billion in projects, contributing to significant reductions in greenhouse gas emissions, water savings, and job creation nationwide.
“Recent catastrophic wildfires have accelerated efforts to advance climate resiliency efforts across the state, yet expensive but vital home hardening projects remain out of reach for too many homeowners,” said Senator Jesse Arreguín.“SB 1041 will protect communities by providing innovative and affordable financing options to assist homeowners in defending their homes from wildfires.”
As wildfires grow more frequent and destructive across California, homeowners are increasingly seeking ways to strengthen their properties against risk. In 2018, the California legislature recognized this and passed SB 465, which allowed PACE for fire hardening, but unfortunately, drafting issues limited its availability.
SB 1041 corrects these issues and modernizes the program, building on the existing PACE framework by clarifying eligible fire-hardening improvements and expanding access to homeowners beyond those in very high fire severity zones.
“California homeowners need practical, affordable tools to protect their homes as wildfire risk continues to rise,” said Vinay Gupta, CEO of Renew Financial.“SB 1041 is a commonsense solution that expands access to financing for critical home hardening improvements while maintaining strong consumer protections. Renew Financial is proud to support Senator Arreguín's leadership and applauds today's committee passage as an important step toward building safer, more resilient communities.”
PACE financing allows homeowners to fund eligible improvements with no high upfront costs, repaying the investment over time through a voluntary property tax assessment. Eligibility is based primarily on home equity and ability to repay, making it a flexible option for homeowners who may not qualify for traditional financing.
With strong consumer protections and oversight from the California Department of Financial Protection and Innovation, PACE has proven to be a safe and effective tool for helping homeowners invest in resilience while supporting broader public policy goals without requiring taxpayer funding.
SB 1041 now advances to the Senate Appropriations Committee.
About Renew Financial
Renew Financial Group LLC (Renew Financial) is a leading residential Property Assessed Clean Energy (PACE) financing provider in Florida and California. The company is dedicated to driving resiliency and environmentally beneficial projects through the residential PACE program. Renew Financial has funded more than $2 billion in projects, contributing to significant reductions in greenhouse gas emissions, water savings, and job creation nationwide.
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