Renewables are the fastest-growing source of energy in the United States, accounting for over half of new generating capacity added in 2015. This growth has been bolstered by government incentives such as the Solar Investment Tax Credit and property-assessed clean energy (PACE) programs, which incentivise the switch to renewables by individuals and small businesses.

Renew Financial, which specializes in PACE and other energy efficiency financing, has raised a $70m Series D round with participation from Angeleno Group, Apollo Capital Management, Claremont Creek Ventures, LL Funds, NGEN Partners and Prelude Ventures.