PACE Funding helps communities reach climate change policy goals, reduce energy and water usage, prepare for natural disasters
LOS GATOS, Calif., Sept. 29, 2021 /PRNewswire/ — Residents in unincorporated areas of Placer County can now access Property Assessed Clean Energy (PACE) financing through the California-based company Home Run Financing. This innovative financing mechanism helps communities upgrade their housing stock to be more energy and water efficient and more resilient in the face of earthquakes and wildfires, while also creating good local jobs.
Home Run Financing was approved to provide PACE Funding to local homeowners by the Placer County Board of Supervisors in December of last year. PACE enables homeowners to make renewable energy, energy and water efficiency, and earthquake and wildfire related upgrades to their home, then pay over time through their property taxes. Because of this payment mechanism, PACE providers must be approved by each city and county.
Placer County’s approval means that Home Run Financing is active in 47 counties throughout the State.
“We’re excited to be active in Placer County and we look forward to working with homeowners to help them make wildfire preparedness and energy efficiency upgrades to their homes,” said Robert Giles, CEO of Home Run Financing. “We hope that the cities in Placer County will soon follow suit in giving their residents access to this powerful financing tool to upgrade their homes.”
In California to date, Home Run Financing has financed more than 13,000 projects, generated an annual reduction of 36,000 metric tons of greenhouse gas emissions and conserved 54 million gallons of water. The increase in home improvement work has created more than 3,400 living-wage jobs and generated $381 million in private investment in local communities across the state.
Home Run Financing also offers a more traditional, unsecured loan product, Home Run Loans, for a wider range of home improvement projects. For more information, homeowners, contractors, and local organizations are invited to visit https://www.homerunfinancing.com/.
About Home Run Financing
Home Run Financing (formerly PACE Funding Group, LLC) started in California in 2014 and has helped tens of thousands of homeowners across California, Missouri and Florida make upgrades to their properties. The company offers Home Run PACE financing for residential renewable energy, energy and water efficiency, and earthquake, wildfire and hurricane upgrades and repairs. They also offer Home Run Loans, a traditional unsecured product that covers a wide variety of home improvement projects. Home Run Financing projects have set in place 47,000 metric tons of annual carbon emission reductions, conserved 54 million gallons of water, created more than 4,500 living-wage jobs, and generated $453 million in private investment in local communities. The company works with a broad network of reputable, licensed contractors nationwide.