Roseville Approves New PACE Financing Option for Home Upgrades
PACE funding helps communities reduce energy and water usage, generate solar energy, reach climate change policy goals, and prepare for wildfires and earthquakes while contributing to local employment.
ROSEVILLE, Calif., Nov. 1, 2022 /PRNewswire/ — Residents of Roseville have joined homeowners in the unincorporated areas of Placer County in gaining access to Property Assessed Clean Energy (PACE) financing through the California-based company Home Run Financing. This innovative financing mechanism helps homeowners with energy and water savings, solar energy generation and electric vehicle charging, while helping communities upgrade their housing stock to be more resilient in the face of wildfires and earthquakes.
Home Run Financing was approved unanimously to provide PACE Funding to local homeowners by the City Council of Roseville, the largest city in Placer County. The County Board of Supervisors has already approved this financing mechanism for residents of unincorporated areas. PACE enables homeowners to make renewable energy, energy and water efficiency upgrades and wildfire and earthquake hardening to their home, then pay over time through their property taxes. Because of this payment mechanism, PACE providers must be approved by each city and county. PACE offers the most stringent consumer protections in the home improvement financing industry.
“We’re glad to be able to help the residents of Roseville with energy and water savings, and we hope that we can serve all Placer County residents in the coming months,” said Robert Giles, CEO of Home Run Financing. “We encourage area decision-makers to embrace Home Run Financing and the PACE model for what they can do for local homeowners, especially in the face of the increasing energy prices, worsening drought, and increasing threat of wildfires.”
Home Run Financing is now active in 47 counties and more than 340 cities and towns throughout California.
In California to date, Home Run Financing has financed more than 15,400 projects, generated an annual reduction of 108,300 metric tons of greenhouse gas emissions (the equivalent of taking 23,300 cars off the road for a year or replacing 13,600 homes’ energy use for a year) and conserved 98.4 million gallons of water. The increase in home improvement work has created more than 4,000 living-wage jobs and generated $528 million in private investment in local communities across the state.
Home Run Financing also offers an unsecured loan product, Home Run Loans, for a wider range of home improvement projects. For more information, homeowners, contractors, and local organizations are invited to visit https://www.homerunfinancing.com/.
About Home Run Financing
Home Run Financing (formerly PACE Funding Group) started in California in 2014 and has helped tens of thousands of homeowners across California, Missouri and Florida make upgrades to their properties. The company offers Home Run PACE financing for residential renewable energy, energy and water efficiency, and earthquake, wildfire and hurricane upgrades and repairs. They also offer Home Run Loans, a traditional unsecured product that covers a wide variety of home improvement projects. Home Run Financing projects have set in place 131,700 metric tons of annual carbon emission reductions (the equivalent of taking 28,400 cars off the road for a year or replacing 16,600 homes’ energy use for a year), conserved 98 million gallons of water, created more than 5,600 living-wage jobs, and generated $657 million in private investment in local communities. The company works with a broad network of reputable, licensed contractors nationwide, and in California is licensed and regulated by the Division of Financial Protection and Innovation.
SOURCE Home Run Financing