This week, President Barack Obama announced a set of executive actions and private sector commitments to accelerate America’s transition to cleaner sources of energy, which including making Property Assessed Clean Energy (PACE) Programs like HERO accessible to more homeowners!
The HERO Program is the most popular PACE Program, being that 95 percent of all residential PACE projects are HERO projects.
President Obama has made it clear that he sees PACE as an important part of the clean energy solution. His words are sure to accelerate PACE across the country, so more families can lower their utility bills and participate in the exciting move to an energy efficient future.
“We’re going to make it even easier for individual homeowners to put solar panels on the roof with no upfront costs,” he declared at the National Clean Energy Summit in Las Vegas on August 24, 2015, adding, “So especially, we’re going to take steps to expand the use of a tool we call PACE, which helps you pay for solar panels through the future savings on your energy bills.”
Along with solar panels, many other water- and energy-saving home upgrades – including windows, heating and cooling systems, roofs and textured coatings, and artificial turf and other drought tolerant landscaping options – are also PACE eligible. “So,” the President continued, “We’re taking steps that allow more Americans to join this revolution with no money down.”
The White House’s announcement also specified that PACE will “make it easier for Americans to invest in clean energy technologies.” It states:
PACE financing allows homeowners to benefit from energy improvements immediately and pay back the cost over time through their property taxes. When the property is sold, the remaining PACE loan stays with the more energy efficient property and the next owner is responsible for repaying the loan. PACE programs have the potential to unlock alternative sources of capital to accelerate renewable energy and efficiency retrofits for households, and reduce energy costs for consumers.
Check out the above video excerpt from the President’s speech, and share this post on your social media pages if you’re proud to be a HERO Homeowner, Contractor, or Community!