HERO Finances Over 100,000 Improvements
SAN DIEGO — Renovate America announced that its HERO Property Assessed Clean Energy (PACE) financing option has helped make over 100,000 Energy Star-qualified improvements, which are estimated to be saving homeowners nearly $1 billion on their utility bills.
HERO is a form of PACE financing, which empowers property owners to make energy, efficiency, and resiliency improvements and then pay for them over time at a competitive, fixed rate through an additional line item on their property taxes. Since HERO launched in late 2011, over 115,000 homeowners have used it to finance nearly $3 billion in renewable-energy, energy-efficient, and water-efficient upgrades to their homes.
Among the 100,828 Energy Star-certified improvements made to date with HERO financing, over 32,500 Energy Star-certified air conditioning units have been installed
“For tens of thousands of homeowners from California to Florida, HERO financing has enabled greater access to superior energy efficiency products,” said Roy Guthrie, CEO, Renovate America. “PACE financing programs like HERO are one of the most effective tools for upgrading our existing housing stock with Energy Star-certified products, helping homeowners save money and reduce emissions while increasing the overall efficiency of our communities and improving the reliability of our electric system.”
Publication date: 6/18/2018