Berkeley sets the PACE in Bay Area by expanding residential energy and water efficiency program to include HERO Financing

Share Article

Berkeley, birthplace of Property Assessed Clean Energy, joins more than a dozen Bay Area jurisdictions and 185 jurisdictions statewide in adopting HERO to create jobs, save energy and water; local property owners will be able to make homes more efficient with low-cost, tax deductible financing paid through their property tax assessments

The City of Berkeley, often cited as the birthplace of Property Assessed Clean Energy (PACE), has voted to expand PACE financing options for city residents, bringing the total of Bay Area communities participating in HERO up to nearly two dozen. Statewide, 185 cities and counties have made HERO available to homeowners.

Like other PACE financing companies, HERO makes energy- and water-saving renovations affordable for property owners by providing long-term, competitive financing through an additional property tax assessment. Payments are made through the property tax bill for up to 20 years and interest is tax-deductible. HERO is the largest PACE financing provider in the nation and has a strong track record of success in the residential market.

“Berkeley was an early adopter of PACE; we’ve long recognized the potential of this financing approach to encourage a meaningful shift toward improved water and energy efficiency, not to mention widespread adoption of renewable energy technologies like solar,” said Berkeley City Councilmember Kriss Worthington. “We also recognize that demand is high for PACE financing, and we believe that adding HERO to our list of providers will be a real boon for homeowners here.”

In addition to helping homeowners save on energy and water bills, HERO spurs local job creation by increasing demand for contractor services. The HERO Program has helped to create more than 2,400 jobs in California since its launch in December 2011.The program has been adopted by 185 communities in California and helped to fund 15,000 residential projects, totaling more than $280 million in financing.

A wide variety of efficiency products are available to property owners through the HERO Program. Some of HERO’s most popular products include water-saving technologies, solar power panel installations, whole-home heating and cooling (HVAC) systems, energy-saving windows and doors, roofing and insulation. HERO also has more than 50 product lines to help homeowners save water during this extended drought, including high efficiency toilets, faucets and showerheads; drip irrigation systems; rainwater catchment systems; gray water systems; as well as artificial turf and drought-tolerant landscaping.

Participation in HERO is 100-percent voluntary for both local government agencies and property owners, and is cost neutral for jurisdictions. A growing number of California cities and counties are partnering with multiple PACE providers to increase financing choices available to consumers. The HERO program has received the Governor’s Environmental and Economic Leadership Award in California, the Urban Land Institute Best of the Best, and the Southern California Association of Governments President’s Award for Excellence.

Jurisdictions within the nine Bay Area counties plus Sacramento County that have embraced HERO include: Albany, American Canyon, Benicia, Berkeley, Calistoga, Citrus Heights, Concord, Foster City, Menlo Park, Monterey, Monterey County, Napa, Napa County, Rancho Cordova, St. Helena, San Jose, San Mateo County, Santa Cruz County, Scotts Valley, Solano County, Vacaville, Vallejo, Woodside, and Yountville.

For more information please visit http://www.heroprogram.com.

To schedule interviews with local HERO reps, elected officials, homeowners or contractors please call Severn Williams at 510-336-9566 or email sev(at)publicgoodprFdot)com.

For a media kit with a Q&A please email sev(at)publicgoodpr(dot)com.

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Severn Williams
Visit website