LOS ANGELES, Feb. 12, 2016 /PRNewswire/ -- Los Angeles Mayor Eric Garcetti and Los Angeles Department of Water and Power (DWP) General Manager Marcie Edwards are encouraging local residents to use local Property Assessed Clean Energy (PACE) programs to finance home energy efficiency projects in light of rising electricity costs. The officials joined together at a Los Angeles home to feature a HERO-financed solar power and energy efficiency project and to raise awareness about how PACE programs and local DWP rebates can help homeowners to reduce their energy costs. PACE programs allow homeowners to finance energy- and water-efficiency and renewable energy investments with no up-front costs and to pay for the improvements over time through their property taxes.
"Angelenos want to make our City more sustainable," said Mayor Garcetti. "That's why I set ambitious goals in my Sustainable City pLAn to expand clean energy use, conserve more water and create new green jobs through residential rebates and programs like PACE. Every day, this program is helping more people save money on their power and water bills with smart upgrades that add to their property values and build a greener Los Angeles."
Since launching in the LA area in May of 2014, HERO has financed more than 10,000 energy- and water-efficiency projects in Los Angeles County, for a total of $239 million in financed projects. These renovations are projected to save homeowners more than 1.2 billion kWh of energy over the useful lifetime of the products, which will eliminate about 300,000 tons of emissions. This home renovation activity has also already created more than 2,000 local construction-related jobs and $414 million in economic impact.
"The HERO Program makes it feasible for homeowners to reduce their power use at a time when rates are increasing," said J.P. McNeill, CEO of Renovate America, the California company that administers the HERO Program. "Working in partnership with local governments throughout the Los Angeles region, PACE programs like HERO can help homeowners control household costs while providing significant economic and environmental benefits. This innovative partnership allows homeowners to pay for efficiency upgrades through their property taxes but costs taxpayers nothing."
A variety of energy-saving products such as solar power panel installations, whole-home heating and cooling (HVAC) systems, high-efficiency windows and doors and roofing and insulation can be financed through PACE. Products to cut down on water use are also available, including high-efficiency toilets, faucets and showerheads, drip irrigation systems, graywater systems and artificial turf and other drought-tolerant landscaping.
Cheryl and Gladstone Williams own an historic two-story home in Los Angeles. They decided to go solar to bring down their high energy bills. On the advice of their HERO-certified contractor, they chose to enhance their energy savings by including duct replacement and attic insulation as part of their project. The family financed 100% of the renovation through the HERO Program and local rebates to lower the total cost of the project. Mayor Garcetti and General Manager Edwards joined them at their home to discuss the programs in place to support these types of investments.
"LADWP offers many programs and rebate incentives to help our customers manage their utility use and costs," said Marcie Edwards, LADWP General Manager. "To help meet our energy efficiency and local solar goals as a city — and to help our customers save money — we encourage them to learn more about these programs and take advantage of them. From free energy saving refrigerators, to commercial lighting retrofit, pool pump rebates, and incentives for solar installations, we offer efficiency solutions for all types of customers."
HERO boosts the economy and supports emissions reductions and water savings. To date, the 53,000 California homes renovated with HERO financing are projected to reduce emissions by 2.1 million tons (the equivalent of taking 370,700 SUVs off the road for a year) and save 3 billion gallons of water (the equivalent of almost 1 billion showers). Since 2011, HERO has generated more than $2 billion of economic activity in California and utility bill savings of $2.25 billion.
In addition to providing training and certification for contractors, such as the company used by the Williams family, HERO provides pricing protections, dispute resolution services, and special protections for customers ages 65 and up. The program only funds products rated as highly efficient and only pays contractors after the homeowner certified successful completion of their project. For more information about the HERO Program, please visit www.HeroProgram.com.
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SOURCE HERO Program