New Program Provides Financing for Home Efficiency Upgrades in Kansas City
Will give contractors a new tool for their customers to finance energy-saving improvements
KANSAS CITY, Mo. — Renovate America, a provider of residential Property Assessed Clean Energy (PACE) financing in the U.S., and the Missouri Clean Energy District (MCED) announced a recruitment effort to register local contractors to offer new financing for Missouri homeowners to make energy efficiency and renewable energy improvements. The new Home Energy Renovation Opportunity (HERO) program will give local contractors a new tool for growing their businesses and reaching more customers with energy-saving technologies. The program enables clean energy upgrades to be paid for over time through local property taxes, at a fixed interest rate for terms of five to 20 years, based on the useful life of the product.
“Every year, one in six homeowners replaces a system that consumes energy. Three-quarters of the time they choose inefficient technology that ends up costing them more over the long term in higher energy bills,” said Joe Suggs, vice president for operations in Missouri for Renovate America. “HERO can solve that marketplace failure while helping homeowners save on energy bills, local contractors create clean energy jobs, and local governments reduce emissions.”