Renovate America’s HERO PACE financing program launches in 26 California cities
Written By: Stratton Report
December 8, 2015
On December 8, the HERO PACE program, administered by Renovate America, was launched in twenty six cities and five counties across California.
The HERO Program launched this week in the cities of Arcata, Camarillo, Chowchilla, Chula Vista, Fairfax, Firebaugh, Fowler, Hayward, Huron, Larkspur, Madera, Millbrae, Mission Viejo, Mountain View, Novato, Oakland, Patterson, Rohnert Park, Salinas, San Anselmo, San Rafael, Santa Cruz, Seaside, Tiburon, Trinidad and Union City, as well as the unincorporated areas of Del Norte, El Dorado, Humboldt, Marin and Tehama Counties.
The HERO Program finances 100 percent of the home improvement, requiring no upfront cash outlay; the term of the financing is based on the useful life of the product, up to 20 years, lowering the size of monthly payments; and collection is conducted through regular property tax payments. A wide variety of energy-saving products are available through HERO including solar power panel installations, whole-home heating and cooling (HVAC) systems, energy-saving windows and doors, and roofing and insulation.
According to Renovate America, HERO has helped fund residential efficiency projects in almost 47,000 households in California, totaling more than $1.08 billion in financing.
Mission Viejo Councilman Frank Ury commented:
“HERO has clearly been a tremendous benefit in the Orange County communities where it is already available. The City Council feels it is important to leverage public-private partnerships to help tackle challenging issues like increasing water and energy efficiency.”
The HERO Program has now been adopted by 362 communities in California, within 37 counties. HERO’s success in California is part of a national trend, with PACE programs now enabled in more than 30 states. In August, President Obama named PACE as an innovative, voluntary tool to meet the country’s clean energy and energy efficiency goals and encouraged its use.
Blair McNeill, Vice President of Community Development for Renovate America remarked: “HERO financing brings renewable energy and energy- and water-efficiency within reach for a broad range of homeowners.”