In order to save money on electricity costs and to reduce our impact on the environment, many homeowners wish to make energy-efficient upgrades. Financing options like the HERO Program make it easier than ever to do these upgrades. HERO stands for “Home Energy Renovation Opportunity”, and it is made possible by Property Assessed Clean Energy, or PACE, legislation in many U.S. states. HERO provides affordable financing options to cover costs associated with energy-efficient home upgrades like:
- Solar panel installations
- Insulation upgrades
- Door and window replacements
- Central air systems
Some areas also include water-saving features in the coverage provided by HERO financing. This is especially true in drought-prone regions like California.
Why Choose HERO?
One of the many benefits of taking advantage of HERO financing is that there are no upfront costs associated with energy-efficient home upgrades. Costs are covered by the financing plan with no out-of-pocket expenses, including parts and labor. In effect, it’s a home improvement loan you pay back through your property tax bill every year. Competitive interest rates give homeowners even more flexibility, and the loan can be paid back in 5-25 years.
How can HERO Help the Environment?
Thousands of home and business owners across the country have taken advantage of PACE financing, including the HERO Program and similar options. HERO helps the environment by reducing energy uses; a report by the Lawrence Berkeley National Laboratory estimates that HERO homeowners will save over eight billion gallons of water and reduce utility bills by a whopping $3.6 billion. By using less electricity, homeowners can reduce their carbon footprint, or the amount of harmful carbon dioxide released to the atmosphere. This is quite significant, as CO2 emissions are responsible for global warming trends.
How can HERO Improve My Home?
Homeowners who take advantage of HERO-financed energy-saving home upgrades do more than saving money on utility bills. They may even raise the value of their homes. A study published by the Journal of Structured Finance showed that statistically, homeowners were able to recover 100% of the costs associated with HERO-financed upgrades. This applies when a home is sold; resale values improve dramatically and even outperform other home upgrades like new kitchens and baths.
HERO Makes Sense
It makes sense to take advantage of HERO financing. While it is easier than ever to pay for energy-efficient home upgrades, saving money and the environment is a critical component of this program. See if HERO is available in your area and get started today on reducing electricity costs and carbon emissions.