The California Home Energy Renovation Opportunity (HERO) allows residential and commercial property owners to finance energy efficiency, renewable energy and water conservation improvements through the State's Property Assessed Clean Energy (PACE) program. California HERO provides low-interest loans that are repaid over time through annual property tax payments. Enrollment in California HERO is completely voluntary. Potential benefits of utilizing HERO include increased property values, lower utility bills, and a more comfortable home.
What products are eligible for HERO financing?
More than 900,000 product models qualify for HERO financing. Typical projects include: solar photovoltaic (PV) systems, energy efficient space heating, air cooling and ventilation (HVAC), cool roof systems, upgrades to windows and doors, solar water heating, air sealing and weatherization, insulation, energy efficient lighting, water efficient fixtures, and irrigation improvements.
What is special about HERO?
HERO partners with local governments to provide a private financing option that enables property owners to make upgrades with the newest and most energy and water efficient products. The partnership permits payment of the HERO loan to be made through property taxes and interest on the loan is tax deductible. HERO finances 100% of the cost for purchase and installation of eligible water and energy efficient products. HERO offers low-fixed interest rates, flexible payment terms including 5/10/15/20 years for most products. Additionally, if the property is sold before the HERO loan is paid in full, the remaining payments can be passed on to a new property owner.
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