What does “HERO” in HERO Program stand for?
The HERO, in the HERO Program, stands for Home Energy Renovation Opportunity.
What is the HERO Program?
The HERO Program offers a unique financing option, repaid through your property taxes, for upgrades that increase energy efficiency, comfort and savings. Water-saving upgrades are also available in drought-impacted areas, such as California, and hurricane protection upgrades are eligible in Florida.
How is the HERO program different from other forms of financing?
HERO is a PACE (Property Assessed Clean Energy) program that provides financing for energy-efficient, water-conserving, renewable energy and hurricane protection home improvements. Types of products that are eligible for HERO vary by state, depending on local legislation. HERO offers consumers access to these products because the HERO financing program is repaid as an assessment on your property taxes. The interest on these payments may be tax deductible*, and high efficiency or performance ratings mean installed products may lower utility or insurance bills.
Approval for HERO financing is primarily based on the equity in the property owner’s home and their debt payment history, rather than their credit score. HERO finances 100% of the cost to purchase and install eligible products, with fixed rates and flexible terms of 5-25 years, depending on the useful life of the improvements and the state in which they are financed. Should the homeowner decide to sell their property before their HERO assessment is paid in full, the responsibility for any remaining balance may be able to transfer to a new property owner (please see Selling and Refinancing for more details).
*Property owners should consult their tax advisor regarding potential tax benefits.
How is the HERO program financing paid through my property taxes?
Property owners will see a line item titled “HERO FINANCING” on their property tax bill. The payment will be due in accordance with their property taxes, which can vary by state or region. If a property owner makes property tax payments through an impound escrow account, their lender will increase their monthly payment to include the amount due for HERO financing. For the first year, once payments start, that amount may be higher while their mortgage servicer pays prior amounts due and escrows the next tax payment.
Who can apply for the HERO program?
Any property owner who lives in a city or county where HERO has been approved by the local government can apply for HERO financing. To find out if HERO is available in your community, please check our communities list.
Are all contractors qualified to install products financed through HERO?
No. Only contractors registered and in good standing with HERO can install products financed through HERO. Each state has different qualification requirements in order to register for HERO. Contractors can determine applicable eligibility requirements at our contractors page.
iPERMIT ERATERS is a proud partner with HERO
Am I required to get an energy audit for my property?
While a residential or commercial energy/water audit is not required to participate in the HERO Program, it is recommended in certain cases, particularly when a homeowner is looking to do whole-property improvements for the purpose of maximizing their energy and water-cost savings. An energy audit by a certified auditor may be the best way for a homeowner to determine which eligible products are best suited for their property. In addition, the cost of the audit is eligible for financing through HERO, along with the eligible products themselves.
Do I need to obtain a building permit?
If a property owner’s city or county has building permit requirements, both the homeowner and contractor are responsible for obtaining all necessary permits and completing inspections, including final inspection sign-off, from the appropriate city or county building department. Property owner’s should speak with your contractor for further information.
Can HERO be used to finance more than one project?
Yes, property owners can finance multiple projects. However, all projects must be approved in order to make sure they meet efficiency standards.
Can I view a sample of my HERO Financing Documents in Spanish?
Yes. Please visit our sample documents page. Then, enter your ZIP code to find the Spanish language version of our sample financing documents for your area.
What happens if a property is sold?
Please see our frequently asked questions about selling and refinancing.