Lompoc City Council approves HERO Residential Energy- and Water-Efficiency Program
Local property owners can make homes more energy efficient with low-cost, tax deductible financing paid through their property tax bill; Lompoc joins more than 120 California cities in adopting HERO t
LOMPOC, Calif., April 16, 2014 — The Lompoc City Council has voted to make the Home Energy Renovation Opportunities (HERO) Program available to Lompoc residents. The HERO Program is a local government-approved program that provides private financing to enable property owners to make energy- and water-efficient upgrades to their properties.
Payment is made through property taxes as part of this Property Assessed Clean Energy (PACE) model. In addition to helping homeowners save on energy bills, HERO spurs local job creation through creating demand for contractor services. The HERO Program has helped create more than 2,100 jobs in California.
“We are excited to make HERO available to residents in communities throughout Lompoc,” said Dustin Reilich, HERO Director of Municipal Development. “This program will help to create local jobs while providing energy and water savings for Lompoc residents. It’s a win-win for the whole community.”
More than 150,000 products are available to property owners through the HERO Program. Some of the most popular products available through the program include whole-home heating and cooling (HVAC), solar power panel installations, energy-saving windows, doors, roofing and insulation, among other types of energy and water saving improvements.
Property owners are able to borrow up to 15 percent of their property value and repay the loans over 5, 10, 15 or 20 years through an assessment on their property tax bills. Interest payments on loans are tax deductible.
HERO is the largest and most successful Property Assessed Clean Energy program in the nation. The program will be available in more than 130 communities in California this year and has helped fund more than 10,000 residential projects for efficiency upgrades with access to more than $180 million in financing.
Lompoc is the first city in Santa Barbara County to sign on with the HERO Program, making it available to its community residents.
HERO is 100-percent voluntary for both local government agencies and property owners.
For more information and to apply for the program please visit www.heroprogram.com.