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.