Hawthorne Homeowners Now Have Access to PACE Financing for Home Upgrades

Exciting Development for Hawthorne Homeowners

In a significant move to enhance the sustainability of residential areas, the Hawthorne City Council recently voted unanimously to implement Property Assessed Clean Energy (PACE) financing for homeowners. This new funding avenue is particularly aimed at facilitating energy efficiency upgrades, renewable energy installations, and essential home improvements that contribute to water conservation.

What is PACE Financing?

PACE financing is designed to assist homeowners in funding a variety of home improvement projects that enhance energy efficiency and promote environmental sustainability. By leveraging this financing option, homeowners can upgrade their HVAC systems, install solar panels, and make significant renovations with minimal upfront costs. The costs are paid back through property taxes, making it a manageable option for many.

Hawthorne aligns with over 340 other municipalities across California, joining a growing movement towards greener housing solutions. Notably, the City of Los Angeles was among the pioneers in adopting this program, and now numerous cities in Los Angeles County, including Hawthorne, have embraced its benefits.

Community Response

Robert Giles, CEO of Home Run Financing (HRF), which spearheads the financing program, expressed his optimism regarding this decision, stating, "It's great to see Hawthorne homeowners gaining this additional option for making needed energy, water, and safety upgrades." The enthusiasm surrounding this initiative reflects a collective effort to enhance the livability and safety of the community in the face of rising energy costs and increasing drought challenges in California.

Homeowners in Southern California are increasingly motivated to lower their utility expenses and invest in renewable energy sources, particularly as climate issues persist. HRF is supporting these homeowners by providing resources and guidance throughout the project execution process.

A Focus on Diversity

Recognizing the diverse population within California, HRF emphasizes its commitment to serving Hispanic and Latino homeowners, who represent a substantial proportion of the state’s demographic. All program materials are available in Spanish, ensuring that language barriers do not inhibit access to crucial funding options. Additionally, the HRF customer service team is bilingual, enhancing their service capabilities and ensuring clear communication with all homeowners.

Consumer Protections in Place

Homeowners utilizing PACE financing can rest assured knowing there are stringent consumer protections in place. These protections include measures such as identity verification, rigorous contractor oversight, and additional safeguards for vulnerable populations, including the elderly and low-income homeowners. Homeowners must engage registered contractors, ensuring that all participants are well-equipped to manage the financing and project processes efficiently.

A Positive Environmental Impact

Over the past nine years, HRF has facilitated more than $600 million in PACE financing across 19,500 projects throughout California. The environmental benefits of these upgrades are striking; the improvements are expected to result in a reduction of 230,500 metric tons of greenhouse gases. To put this in perspective, that’s equivalent to taking nearly 53,800 cars off the road for a year or powering around 31,000 homes. Furthermore, HRF-enhanced projects have preserved over 253 million gallons of water, equal to filling approximately 12,000 backyard pools.

Future Prospects

As California faces ongoing climate challenges, initiatives like PACE financing represent crucial steps toward fostering energy resilience within communities. Local leaders, including Hawthorne City Councilmember Angie Reyes English, have voiced the need for robust funding options to support homeowners in upgrading their properties for greater energy and water efficiency. She states, "As Southern California continues to face more extreme heat, people need access to funding options to make their homes more energy and water efficient."

The implementation of PACE financing not only aims to provide financial support but also enhances community resiliency against adverse environmental conditions. By investing in home improvement projects, homeowners not only contribute to their savings but also to the broader mission of sustainability in their neighborhoods. For further information about the program, please visit Home Run Financing.