Ripon has launched the HERO Property Assessed Clean Energy (PACE) Program, which enables homeowners and commercial property owners to make energy- and water-efficiency improvements and pay them off through their property tax bill.
Manteca is set to launch this summer. Property owners repay the assessment over 5, 10, 15 or 20 years. Interest is tax deductible, and homeowners see immediate savings on electric and water utility bills.
“Homeowners know that investing in energy and water efficiency saves money in the long run. Now most homeowners can access affordable financing to make these efficiency upgrades,” said Blair McNeill, Vice President of Community Development for Renovate America, the company that administers the HERO Program. “HERO is helping homeowners realize tomorrow’s energy efficient future today.”
The HERO Program has now been adopted by 290 communities in California. HERO’s success in California is part of a national trend, with PACE programs now flourishing in 31 states. The new financing model is quickly becoming a cornerstone of America’s push for cleaner power and energy independence.
A wide variety of energy-saving products are available through HERO. These include solar panel installations, whole-home heating and cooling (HVAC) systems, energy-saving windows and doors, roofing and insulation. As California’s drought drags on, eligible retrofits give homeowners a fast, affordable way to lower their water bill and conserve a desperately-needed resource with products ranging from high-efficiency toilets to drought-tolerant landscaping.
HERO now serves 10 million households in California. It has helped fund more than 28,000 residential efficiency projects, totaling more than $550 million in financing. By stimulating home renovation activity, the HERO program increases demand for contractor services.
HERO leads the industry with their proactive consumer protection policy. HERO requires participating contractors to undergo rigorous training aimed at ensuring customers are fully informed about the costs and benefits of the program. Funding for projects is made available to the contractor only after the homeowner has indicated full satisfaction with and completion of the project.
To learn more about the HERO Financing Program, and to apply, property owners can visit www.HEROProgram.com or call 855.HERO.411 (855.437.6411).