HERO PACE Program Is a Solar Financing Hero in California

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The HERO-branded PACE program continues spreading throughout California. The HERO program lets homeowners and commercial property owners pay off solar installations and other energy-efficiency improvements through their property tax bill.

 

PACE (Property Assessed Clean Energy) just keeps on giving. It’s not only back but is making a big comeback in California. Because the program covers water-efficiency as well as energy-efficiency improvements, the state is especially interested in making use of it during this time of severe drought.

So 24 additional California communities have launched the HERO-branded PACE program. They join more than 150 other California jurisdictions that have an active HERO program or plan to launch one later this year.

The HERO program enables homeowners and commercial property owners to pay off energy- and water-efficiency improvements, including adding solar, through their property tax bill. Property owners repay the assessment over 5, 10, 15 or 20 years through their property tax bill. Interest is tax deductible and homeowners see immediate savings on utility bills.

HERO is the top residential PACE financing program in California, with more than $250 million worth of projects funded.

The program brings benefits beyond a good financing mechanism. Since launching in December 2011, HERO has created 2,400 jobs in the construction sector around the state, and those numbers are expected to grow as the program expands.

“The HERO Program has been proven to create jobs, reduce energy bills and decrease water consumption,” said Blair McNeill, Vice President of Development for Renovate America, the company that administers the HERO program. “With summer upon us and cities looking for ways to support conservation, now is a good time for homeowners to embrace PACE programs like HERO.”

A complete list of the counties and cities participating in the HERO program can be found here.

HERO is one of several PACE programs active in California communities. Communities where multiple PACE financing companies are active often see the highest levels of property owner participation. Taking part in the HERO Program is 100% voluntary for both jurisdictions and property owners. The program is cost-neutral to participating local governments. All registered contractors are provided with a comprehensive training program to ensure they provide excellent service and accurate information to customers.