Homeowners in Auburn, California, now have access to a groundbreaking financing option for making their homes more energy-efficient and resilient. The Auburn City Council recently approved the implementation of Property Assessed Clean Energy (PACE) financing, allowing residents to tap into this innovative program offered by industry leader Home Run Financing (HRF). This decision follows a similar move by Placer County, which extended the program for another five years in unincorporated areas, showcasing the county’s confidence in its benefits. Roseville, Placer County’s largest city, has also embraced PACE financing for its residents.
PACE financing provides a unique opportunity for homeowners to fund a range of improvements, including renewable energy installations, energy and water efficiency upgrades, and even earthquake-resistant modifications. This program joins a growing list of over 340 cities and towns across California that have made PACE funding available to their residents.
Robert Giles, CEO of Home Run Financing, emphasized the significance of this program in the face of extreme weather events like the recent heatwave in Auburn. “PACE can help build the community’s resilience to such extreme weather events,” Giles stated. “It can also allow more homeowners to add solar panels, energy-efficient HVAC, and other efficient and renewable energy systems to lower their utility bills and reduce the region’s carbon emissions.”
The program is designed to be accessible to a wide range of homeowners, with stringent consumer protections in place. Home Run Financing, with its eight years of experience in California, has already provided over $555 million in PACE financing for more than 18,000 home improvement projects across the state. These projects have collectively resulted in the reduction of 177,800 metric tons of greenhouse gas emissions over the lifetime of the upgrades, equivalent to removing over 42,000 cars from the road for a year or powering more than 23,000 homes for a year. Additionally, the water efficiency upgrades have saved an impressive 191 million gallons of water, enough to fill 9,000 backyard swimming pools.
In addition to its environmental benefits, PACE financing has also played a significant role in creating jobs. HRF-financed projects have created 5,000 good-paying jobs across California. To learn more about PACE financing and how it can benefit you, visit www.homerunfinancing.com.
