Homeowners in Artesia, Burbank, and Lakewood Can Finance Home Improvements with PACE Program

Innovative Funding for Home Improvements in California

The City Councils of Artesia, Burbank, and Lakewood have made an impactful decision recently by granting homeowners in these cities access to Property Assessed Clean Energy (PACE) financing. This initiative, led by Home Run Financing (HRF), allows residents to fund critical home improvements aimed at increasing energy efficiency, utilizing renewable energy, and boosting resilience against natural disasters.

What is PACE Financing?

PACE financing is designed to facilitate funding for home upgrades that not only improve property values but also promote environmental sustainability. Homeowners can utilize this financing for various projects like installing solar panels, enhancing roofing systems, upgrading HVAC systems, enriching earthquake resiliency, and implementing water conservation technologies. This move aligns with California's commitment towards reducing energy consumption and preparing its residents for the challenges posed by the climate crisis.

Over the years, homeowners across California have sought avenues to lower their utility expenses as energy prices continually rise. With the persistent issue of drought in the state, there's also an acute need for solutions that help conserve water. PACE financing addresses these challenges head-on.

Support from City Leaders

Mayor Rene Trevino of Artesia expressed strong support for the program, stating, "PACE is a valuable tool for Artesia residents to fund energy efficient home upgrades that help our community become more resilient against extreme heat, drought, and rising costs." Similarly, Burbank Mayor Tamala Takahashi noted the importance of the program in providing residents the opportunity to invest in their homes sustainably.

Burbank Water and Power, the local utility, collaborated closely with Home Run Financing to introduce PACE to Burbank residents. It's a marked initiative that demonstrates the commitment of local governments to facilitate greater access to green technology.

Consumer Protections and Accessibility

One of the prominent features of PACE financing is its robust consumer protection measures. This includes payments to contractors only upon satisfactory completion of projects, ensuring quality work for homeowners. Additionally, third-party inspections of finished projects provide an added layer of reassurance.

Furthermore, recognizing the demographics of Artesia, Burbank, and Lakewood, Home Run Financing emphasizes its commitment to assist Spanish-speaking residents. They provide all essential documentation and resources in Spanish and ensure that their customer service is adequately staffed with bilingual personnel.

Environmental and Economic Impact

Home Run Financing has a rich history, having provided over $694 million in PACE financing for nearly 22,100 home improvement endeavors across California in a decade. Projects funded through HRF PACE financing have substantially contributed to environmental sustainability efforts. For example, they've helped reduce greenhouse gas emissions equivalently to taking approximately 69,440 cars off the road for a year.

Moreover, the successful implementation of the PACE program has supported job creation and employment opportunities. HRF PACE-financed projects rely on a network of over 2,000 contractors, facilitating more than 6,200 sustainable jobs throughout the state.

Conclusion

With Artesia, Burbank, and Lakewood now onboard the PACE financing initiative, homeowners in these regions are poised to benefit immensely. This program not only promotes energy efficiency and crucial home improvements but also fosters a community preparedness that is essential amid emerging environmental challenges. As the state continues to navigate the complexities of climate change and rising utility costs, such innovative financing solutions like PACE are vital for the sustainable development of California’s communities.

To learn more about PACE financing and how to apply, visit Home Run Financing.