It’s about to get much easier for Napa County commercial property owners and homeowners to tackle rising energy costs and emerging water scarcity while helping to grow jobs in California’s economy. Two innovative programs designed to help property owners finance energy efficiency, water efficiency, and renewable energy projects easily and affordably are launching in Napa County.
is operated by the California Statewide Communities Development Authorities (CSCDA) and is available through a partnership with 17 counties covering 142 cities (and growing), including Napa County. Click here
for an extensive list of the types of home improvements eligible for this financing.
(which stands for Home Energy Renovation Opportunity) is already available in 171 communities across California. Click here
for a list of the more than 900,000 products that are eligible for HERO Financing.
The programs use the Property Assessed Clean Energy (PACE) financing method. Property owners will be able to choose a qualified contractor and install a custom-tailored project—including the purchase and installation of heating and cooling systems, solar panels, low-flow toilets, home insulation, windows, roofs, and even artificial turf.
Through PACE, property owners’ repayment is secured through a special tax assessment repaid on the property tax bill over up to 20 years. Instead of traditional consumer credit, this method allows property owners to secure upfront funding for efficiency and renewable projects.
These types of upgrades reduce yearly energy and water costs and improve property values; and, unlike a personal loan, the PACE loan typically stays with the property upon sale.
Click here to read the story from Sustainable Napa County.
Click here to read the story in the San Francisco Chronicle.