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PACE in CA: San Diego County launches green loan program

Posted: Thursday, July 10, 2014 7:47 am

Local officials announced Wednesday the launch of a loan program that aims to reduce energy and water usage and help consumers save money.

The county’s Property Assessed Clean Energy (PACE) program eliminates the upfront costs for many energy- and water-efficiency improvements while reducing the operational expenses of owning a home, said officials.

The financing is offered by HERO, a program operated by San Diego-based Renovate America. PACE loans approved through HERO and other lending programs are repaid through property tax assessments, providing an additional option for homeowners looking to finance energy-related upgrades.

“The PACE program is a win-win for consumers and our environment,” said San Diego County Supervisor Dave Roberts as a press conference. “Homeowners will have a wide range of energy-saving products available to them — including solar panels — and will be able to pay for them on their property tax bill.” Read more.