Learn more about the Benefits of a PACE Program for Southern California Homeowners
Today, more and more people are becoming aware of the crucial role they have to play to save the environment and Mother Earth. Contrary to the belief of some that an ordinary person can do nothing, you can actually help in a variety of ways. The Pace Program might be a helpful option for you.
Eco-friendly home improvement
One way that you can help save the environment is by upgrading your home to become energy-effieient and water-efficient. The trouble here is that more often than not, property owners are put off by the costs involved. Many think that the upfront costs are too prohibitive, even if it’s possible for them to recoup their initial investment through savings in their energy and water bills. Many of us just wait to do major home improvements when there is a problem like a broken HVAC system or the Insullation in you home has become so old, you have become uncomfortable.
About the Pace Program in Southern California
This is where property assessed clean energy or PACE programs come in handy. Southern California locals ought to know, is a type of financing program that can be used to upgrade a property to become energy- and water-efficient without necessarily putting up a huge sum of money. Through this program, the costs involved can be minimized. In some districts, the upgrade can be fully financed and paid back through voluntary property tax assessment.Companies like California First and The HERO Program and making it easy for homeowners to get qualified directly through HVAC contractors like us.
The program offers several advantages. For one, you do not have to finance the project by yourself. Next, the repayment can be paid over a long period of time, sometimes up to 20 years. This means that monthly payments are kept low so that your total savings exceed the payments. For commercial property owners, this is one way to create positive cash flow. The interests may also be deducted from your taxes. Finally, the loan is not tied to the borrower but to the property. This means that if you sell your property before paying the loan in full, the loan is transferred to the new home buyer.
This type of financing is available in cities and countries which have adopted the program. You can take advantage of this program if you have some equity in your property and you have no issues with your property tax or mortgage. This program is available for residential, commercial and municipal property owners.
Depending on your zip code, the eligible upgrades may vary. Broadly speaking, the financing program may be used for upgrades that are permanent in nature and those that reduce gas, water and electric consumption. Cities in L.A. County and Ventura County have been approved for most of 2015 and many homeowners are taking advantage of the local rebates and easy financing programs through Pace.
If you have been thinking of making home upgrades your property more energy and water efficient but have always been held back by the costs involved, consider taking advantage of PACE programs. We can help you with HVAC replacement, Insullation, Duct Replacement and many other energy efficient home upgrades.