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Finance program for efficiency upgrades expands to Mountain View

The City Council recently voted to make the HERO Property Assessed Clean Energy (PACE) program available to local residents. Mountain View joins San Jose, Morgan Hill and Gilroy in participating.

HERO PACE financing enables homeowners to make energy- and water-efficiency improvements and pay for them over time through their property tax bill. Given California's recently adopted regulations aimed at reducing urban water consumption by 25 percent, it could be a timely option for homeowners.

"We're happy to provide an avenue for financing that requires no money down and does not depend on personal credit, bringing efficiency improvements within reach for a broad range of homeowners," said Blair McNeill, vice president of community development for Renovate America, the company that administers the HERO Program.

The company has a wide variety of products to help homeowners save water, including high-efficiency toilets, faucets and showerheads, drip irrigation systems, rainwater catchment systems, gray water systems, and artificial turf and drought-tolerant landscaping.

Some of HERO's most popular energy-saving products include solar power panel installations, whole-home heating and cooling (HVAC) systems, energy-saving windows and doors, and roofing and insulation, according to McNeill.

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Residents may begin submitting applications for HERO later this year.

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Finance program for efficiency upgrades expands to Mountain View

by Carl Sibley / Mountain View Voice

Uploaded: Mon, Oct 5, 2015, 2:21 pm

The City Council recently voted to make the HERO Property Assessed Clean Energy (PACE) program available to local residents. Mountain View joins San Jose, Morgan Hill and Gilroy in participating.

HERO PACE financing enables homeowners to make energy- and water-efficiency improvements and pay for them over time through their property tax bill. Given California's recently adopted regulations aimed at reducing urban water consumption by 25 percent, it could be a timely option for homeowners.

"We're happy to provide an avenue for financing that requires no money down and does not depend on personal credit, bringing efficiency improvements within reach for a broad range of homeowners," said Blair McNeill, vice president of community development for Renovate America, the company that administers the HERO Program.

The company has a wide variety of products to help homeowners save water, including high-efficiency toilets, faucets and showerheads, drip irrigation systems, rainwater catchment systems, gray water systems, and artificial turf and drought-tolerant landscaping.

Some of HERO's most popular energy-saving products include solar power panel installations, whole-home heating and cooling (HVAC) systems, energy-saving windows and doors, and roofing and insulation, according to McNeill.

Residents may begin submitting applications for HERO later this year.

Comments

OldMV
Old Mountain View
on Oct 6, 2015 at 3:56 pm
OldMV, Old Mountain View
on Oct 6, 2015 at 3:56 pm

Obviously, Renovate America has jumped onto the politically correct and very lucrative Green Mania Train to profit its investors. Our MV govt is a sucker to do business with them. As long as Mountain View doesn't have to pay or commit a single penny of MV revenues either to homeowners or to Renovate America then I reluctantly approve. Also, since non-credit-worthy "liar" loans will be involved, MV must not be allowed to guarantee any loans made by Renovate America to homeowners or to landlords, and any deferred payments to property taxes must guaranteed by Renovate America and also include cumulative interest and administrative fees. Oops! I almost forgot. No rebates by MV either.


@OldMV
Waverly Park
on Oct 6, 2015 at 4:00 pm
@OldMV, Waverly Park
on Oct 6, 2015 at 4:00 pm

Okay, so your alternative is...what, exactly?


Beware
Cuesta Park
on Oct 6, 2015 at 9:32 pm
Beware, Cuesta Park
on Oct 6, 2015 at 9:32 pm

Just because the payback is attached to your property tax bill doesn't make it automatically a tax deduction. There's a lot of misinformation in this regard. Just as I wouldn't take solar energy installation advice from a tax pro, I wouldn't take tax advice from a solar energy sales rep. For the interest on the loan to be tax deductible, the lender must file a lien against your home. When it comes time to sell your home, what are the changes the buyer will assume the loan? What will the buyer's mortgage company think about being #2 in line to get a lien on the home? The seller will have a hard (impossible) time convincing the buyer to assume the energy improvement loan. Homeowners, be afraid. Be very afraid.


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