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Fresno joins HERO residential PACE program

Published on 03/18/2014 – 9:35 am

Written by Business Journal staff

Fresno property owners have a new financing tool available for water and energy efficiency upgrades through the HERO program.

Already adopted by 120 California communities, HERO (Home Energy Renovation Opportunity) is a public-private partnership that allows property owners to pay back loans for energy improvements via tax bills.

As part of its brand of the Property Assessed Clean Energy program, HERO has contractors at its disposal that will see through more than 150,000 water and energy remedies, including heating, ventilation and cooling (HVAC) repairs, solar panel installations, cool roofs, energy-saving windows, lighting upgrades, insulation, drip irrigation and gray water systems.

The resulting electricity savings will help property owners pay for the project through an assessment on their property tax bills over five to 20 years.

Property owners can borrow up to 15 percent of the property value for the improvements and household income or credit scores are not a factor in to qualify for the loans. Read more.