LOS ANGELES — The county of Los Angeles has voted to make the Home Energy Renovation Opportunity (HERO) Property Assessed Clean Energy (PACE) program available to local residents. Los Angeles County and 84 cities within the county, including the city of Los Angeles, join more than 200 other cities and counties that have adopted HERO.
HERO makes energy- and water- saving renovations affordable for property owners by providing long-term, competitive financing through an additional property tax assessment. Payments are made through the property tax bill over up to 20 years, and interest is tax-deductible.
In addition to helping homeowners save on energy and water bills, HERO creates local jobs by increasing demand for contractor services.
“The HERO Program provides a long-term payment option for local homeowners who would like to make energy and water efficiency upgrades to their properties,” said Los Angeles County Supervisor Hilda Solis. “Our local economy will also get a boost from the jobs the HERO program creates by increasing work for local contractors. This is a win-win for local residents, the economy, and the environment.”
The HERO Program has helped to create more than 4,300 jobs in California since its launch in December 2011. The program has helped to fund more than 26,500 residential projects, totaling more than $514 million in financing.
“It’s good to see the LA County Board of Supervisors helping to conserve energy by approving the Residential PACE program that will help Angelenos conserve water, use less electricity, and harness renewable energy at home,” said Los Angeles Mayor Eric Garcetti. “Our collaboration with the county on this program will be another engine driving the creation of local green jobs while saving Angelenos money on their utility bills.”
A variety of efficiency products are available to property owners through the HERO Program. Some of HERO’s most popular products include HVAC systems, water-saving technologies, solar panel installations, energy-saving windows and doors, roofing, and insulation.
“HERO will make it easy and affordable for local homeowners to save money by using water and energy more efficiently,” said Dustin Reilich, director of municipal development for the HERO Program. “When more homeowners invest in these types of improvements, it creates jobs and stimulates the local economy. HERO is committed to helping cities and counties reach their energy and water reduction targets by bringing these types of investments into reach for most property owners.”
For more information, visit www.heroprogram.com.
Publication date: 3/23/2015