Stockton Joins over 140 California Jurisdictions in Adopting HERO Financing for Solar

2060

The Stockton City Council votes to make another PACE program available for its residents: the HERO Property Assessed Clean Energy (PACE) program. Like other PACE programs, HERO makes energy- and water-saving renovations affordable for property owners by providing long-term, competitive financing through an additional property assessment.

A growing number of California cities and counties are partnering with multiple PACE providers to increase financing choices available to consumers, and Stockton is following this trend. In 2013, the Stockton City Council approved FigTree Financing, a PACE provider focused primarily on commercial PACE projects. Last night, the City Council voted to make another PACE program available for its residents: the HERO Property Assessed Clean Energy (PACE) program. Based on experience in other California communities, HERO expects to see a high level of interest from homeowners in Stockton almost immediately.

Like other PACE programs, HERO makes energy- and water-saving renovations affordable for property owners by providing long-term, competitive financing through an additional property assessment. More than 900,000 energy- and water-saving models are available to property owners through the HERO Program. Some of HERO’s most popular products include solar power panel installations, HVAC systems, energy-saving windows and doors, roofing, and insulation.

According to HERO, it is currently financing 95% of all residential PACE projects, making it the leading residential PACE program in the nation. The program is now available in 142 communities in California and has helped to fund 10,000 residential projects, totaling more than $200 million in financing. In addition to helping homeowners save on utility bills, HERO spurs local job creation by increasing demand for contractor services. The HERO Program has helped to create over 2,100 jobs in California since its launch in December 2011.

Matt Messina, HERO Community Development Manager, commented: “HERO is making a big impact on job creation and economic stimulus throughout California. The program has a strong track record where it is active and will make it easy for Stockton residents to make home improvements that increase their comfort and save money.”

For more information and to apply for the program, click here.