The Home Energy Renovation Opportunity (HERO) program is a financing programs to help homeowners upgrade to a more energy-efficient home. It can pay for a number of projects, such as solar, heating & cooling, windows and doors, roofing, and landscaping.
The HERO program came from the Property Assessed Clean Energy program (PACE). Funding for the HERO program comes from local Government, which is why it's only available in limited states (California being one of them). The homeowner then repays the loan like any other loan, the major difference being that repayment is facilitated through property taxes.
How do I get approved for HERO financing?
Eligibility is based on various factors including household income, home equity, debt obligations, and what the project(s) are you want to finance. Talk to us, and we will help walk you through the process.
Once you're approved, HERO will finance the entire project - no out of pocket - to purchase and install the energy-saving products. There can also, potentially, be tax benefits, similar to those accrued from mortgage payments.
Generally, you can transfer the loan upon sale of the property (obviously, with the purchaser's acceptance), so you may not even have to fully pay the loan off.
Upgrading to more energy-efficient products could save you money on your regular monthly out-goings.