POSTED NOV. 21, 2013, 7:51 AM
PARIMAL M. ROHIT / STAFF WRITER
In an attempt to have more Santa Monica businesses and homeowners proactively install more energy efficient and renewable energy systems within their respective homes, the City Council unanimously approved last Tuesday night as part of its consent calendar to make homeowners eligible to participate in a financing program to cover the costs of such improvements.
Known as the California Home Energy Retrofit Opportunity (HERO) Program and part of the Property Assessed Clean Energy (PACE) financing program, property owners in Santa Monica will, according to City staff, now be able “to borrow the cost of energy efficiency improvements and renewable energy systems by placing a voluntary assessment on their property tax bill.”
“Making PACE financing available to Santa Monica property owners has the potential to stimulate the installation of energy efficiency improvements and renewable energy systems,” City staff stated.
Both commercial and residential property owners in Santa Monica are eligible to participate in the HERO program. Any and all participation in the program is voluntary, according to City staff. Read more.