#United States #California #Home Run Financing #PACE Financing

Home Run Financing Celebrates a Decade of Success in PACE Financing

Home Run Financing (HRF) is proud to mark ten years since the inception of its Property Assessed Clean Energy (PACE) financing program in California. Initiated in 2015, this innovative funding model has substantially aided in the improvement of homes across the state, facilitating investments aimed at enhancing energy efficiency, resilience to climate change, and conserving water resources.

As of January 2026, HRF has issued over $641 million in PACE financing, supporting nearly 20,700 home improvement projects. The funding model has spread across more than 360 jurisdictions in California, with new communities recently adopting PACE in locations such as Lawndale, Hawthorne, and Calabasas in Los Angeles County, among others.

The Impact of PACE Financing

The PACE program allows homeowners to fund essential upgrades, including:

• - Roofing
• - Energy-efficient windows and doors
• - Heating, ventilation, and air conditioning (HVAC) systems
• - Insulation
• - Electric vehicle (EV) charging stations
• - Solar energy installations

These upgrades are particularly vital in adapting to California's climate challenges. For instance, the PACE program has been tailored to include projects focused on earthquake safety and water efficiency, ensuring communities can thrive amidst evolving environmental conditions.

Amanda Cortez, Town Councilmember of Loomis, expressed her enthusiasm for the introduction of PACE in her community, stating, "I’m truly excited to see the Town of Loomis offering the PACE program to our community, empowering homeowners with new opportunities to invest in energy efficiency and a more sustainable future."

A Public-benefit Model with Local Control

PACE financing is managed through the California Statewide Communities Development Agency (CSCDA), which operates as a joint-powers entity enabling member governments to participate voluntarily. The program is versatile and adapts to local needs, allowing towns and cities to decide whether to offer PACE to residents.

With strong consumer protections established over the past six years under the oversight of the California Department of Financial Protection and Innovation (DFPI), PACE is recognized for its commitment to safeguarding homeowners, making it one of the most secure financing options available in the home improvement sector.

Environmental and Economic Benefits

The impact of HRF’s PACE financing extends beyond individual homeowners. It has generated significant environmental benefits, including an estimated reduction of 261,300 metric tons of greenhouse gas emissions, which is analogous to removing nearly 61,000 cars from the road for a year or providing power to over 35,000 homes annually. Water conservation efforts have also been notable, with approximately 301 million gallons saved—enough to fill around 14,600 backyard pools.

Moreover, the projects financed through PACE have stimulated California's economy by creating more than 5,000 well-paying jobs. Over 2,000 contractors have benefitted from this financial model, relying on PACE to assist homeowners in obtaining critical upgrades.

Bob Giles, CEO of Home Run Financing, emphasized the success of the PACE program, saying, "PACE has proven itself again and again as one of California's most effective tools for empowering homeowners, strengthening communities, and accelerating our transition to a cleaner, safer future." The demand for PACE continues to rise among municipalities, illustrating its essential role in California’s clean energy strategy.

The Future of PACE Financing

As challenges linked to climate change intensify, Home Run Financing remains a critical resource, not just for individual homeowners, but for local governments as they adapt to new realities. "PACE is working exactly as intended," stated Giles. "It helps families afford improvements that make their homes safer, greener, and more efficient. It supports local jobs and gives communities the power to choose the solutions that fit their needs. That's why PACE continues to thrive in California."

In conclusion, the ongoing evolution and demand for PACE financing through Home Run Financing signify a promising direction for sustainable home improvement funding in California, empowering residents and promoting community resilience amid climate challenges.