Watsonville homeowners who want to go solar, replace their AC unit, or install new efficient windows and doors can now finance 100% of their efficiency-related repairs and upgrades through the HERO Property Assessed Clean Energy (PACE) Program. Recently approved by the Watsonville City Council, HERO financing provides new options for homeowners to make energy and water efficiency improvements, and to pay for them over time at a fixed interest rate through an additional line item on their property taxes. HERO financing payments may have tax benefits, and many homeowners see immediate savings on utility bills by investing in efficiency upgrades.
“HERO is already empowering homeowners across California to make their homes more comfortable, lower their utility bills and reduce their emissions. We look forward to doing the same thing for the homeowners in Watsonville,” said Blair McNeill, Vice President of Market Development at Renovate America, the company that administers the HERO Program. “HERO will also provide a boost to small businesses in Watsonville and surrounding areas of Santa Cruz County, just as it has across California.”
All residents of Santa Cruz County will now have access to this innovative financing program, including homeowners in the city of Santa Cruz, Capitola, Scotts Valley, and unincorporated areas of the county.
Over the last five years, HERO has helped fund residential efficiency projects in 88,100 households in California, totaling $2.13 billion in financing. By stimulating home renovation activity, the HERO Program increases demand for local contractor services and is estimated to have spurred the creation of 18,100 local California jobs since its launch. Many of these jobs, like those in the construction industry, cannot be outsourced or automated. In total, HERO has already generated a positive economic impact of $3.69 billion in California.
Some of HERO’s most popular energy products include rooftop solar panels, HVAC systems, energy-saving windows and doors, roofing, and insulation. For cutting down on water use, homeowners commonly use HERO to install high-efficiency toilets and showerheads, drip irrigation systems, rainwater catchment systems, and artificial turf and other drought-tolerant landscaping. The products installed must meet federal and state efficiency standards, potentially enabling homeowners to lower monthly utility bills.
The home improvements financed through HERO to date are projected to save $3.51 billion on energy bills, conserve 13.4 billion kWh of electricity, reduce greenhouse gas emissions by 3.6 million tons (the equivalent of taking 761,000 SUVs off the road for a year), and save 7.9 billion gallons of water (the equivalent of 252 million showers).
