Financing Through Hero
HERO is a partnership between business and local government that helps more people make home upgrades that save energy and water. With this unique financing opportunity, homeowners pay for the improvements along with their property taxes over a period of 5 to 20 years. More homeowners qualify for HERO, as approvals are primarily based on home equity rather than their credit score.
Unlike a bank loan or a credit card, HERO financing involves homeowners paying for these upgrades through their property taxes. Rather than one more bill you have to pay each month, HERO financing allows homeowners to start saving water and energy right away and then to pay for their upgrades over time.
The financing process is simple and straightforward. You can apply online with the HERO program, and they provide quick approvals. From there, you choose your terms and sign the financing documents. Then, make payment through your property taxes. You choose your payment plan, with periods from 5 to 20 years. And you choose which upgrades would be the best investments for your home while saving you water and energy. There are no upfront costs, and no application fees. And if you sell your home before paying it off, the remaining balance may be able to transfer to the new owner.
Part of the HERO financing process is also finding a HERO Registered Contractor, approved by the program to install your upgrades. At Semper Solaris, we’re happy to help with all of your solar and roofing needs. We’ve served many homeowners that have used HERO to finance their Semper Solaris projects, and who are now enjoying their solar panels and greatly reduced energy bills.
Call Semper Solaris today and ask about HERO financing. There’s no reason to wait to start saving money and energy, and it’s an amazing feeling to watch the meter start running backwards once you install your new solar panels!
HERO Channel Partner
Not just anyone can install upgrades with HERO financing. HERO has developed an excellent reputation for protecting consumers from botched installations. Their consumer protection policies ensure that consumers purchase approved energy-efficient and water-saving products from contractors who are properly licensed and bonded. HERO also only approves products that are approved by the U.S. Environmental Protection Agency, U.S. Department of Energy, or other state and federal agencies.
Semper Solaris is proud to be a HERO Registered Contractor, and to provide HERO product installations. However, Semper Solaris has even gone one step above: we are now Channel Partners with the HERO program.
Channel Partners are selected from HERO’s Registered Contractors, and these partners have a special position that contractors have to qualify for. These qualifications are strict, and are based on sales numbers, establishing a good internal record with HERO, and most importantly—customer satisfaction. HERO looks at sales numbers, number of HERO projects completed, company culture, business practices, and customer reviews when selecting Channel Partners.
Semper Solaris is proud to offer top-notch service for your solar and roofing needs, and to do it in a way that is affordable for many homeowners thanks to HERO.
Solar Through HERO
One of the biggest roadblocks between homeowners and installing solar panels is simple: homeowners aren’t sure if they can afford the switch. Many homeowners love the idea of having no energy bill, of going green, and of investing into their home. But they don’t love the idea of paying a large chunk of money and not seeing the payback for a few years.
That’s where the HERO program comes in. The HERO program, or Home Energy Renovation Opportunity program, is a partnership between contractors and local governments. Contractors want work, and local governments want to see their cities become renovated, save water and energy, become more environmentally friendly, and to see neighborhood home values to go up. HERO creates a way for this to happen. Instead of paying for their solar panels up front, HERO participants receive financing plans from HERO, from five to twenty years long. And, instead of paying it off like a credit bill, homeowners pay it on their annual property taxes.
Semper Solaris has had a fruitful partnership with the HERO program. Many homeowners wouldn’t be able to afford the initial cost of solar panels, but can afford to spread out the cost via their property taxes instead. Thanks to the HERO program, Semper Solaris can install panels right away and homeowners can immediately slash their electric bills.
According to the HERO website, rooftop solar systems can offset electricity costs by 80% to 90%. For a three-bedroom home that runs the air conditioning and laundry often, electricity bills are usually around $150 per month. However, after installing a 3.75kW system, the bill could be only about $30. For a five-bedroom home, especially with a home office and pool, electric bills are often over $325. However, with a 4kW system installed on the roof, homeowners can expect a bill of just $65. Depending on your personal electric bill savings, and because Semper Solaris installs systems that last for decades, this could mean a savings of over $100,000 for the lifespan of your solar power system.
There’s no reason to wait, because your savings on your electric bill could start right away. Financing rates and solar costs are at a steady low, so now is the perfect time to make the switch.
Hero Program FAQ
HERO is an acronym that stands for Home Energy Renovation Opportunity.
The HERO Program offers a unique, affordable financing option for energy-efficient upgrades for increased efficiency, comfort and savings. Water-saving upgrades are also available in drought-impacted areas, such as California.
HERO Financing is a simple 4-step process:
1. Apply – Find out how much your home is approved for.
2. Select – Choose the eligible products and select the contractor for your job.
3. Sign – Sign your financing documents.
4. Complete – Finish the installation.
HERO is a PACE (Property Assessed Clean Energy) program that provides financing for energy-efficient and renewable energy products. In the state of California, HERO provides these same financing options for water-saving and drought-resistant products.
HERO offers more consumers access to energy-efficient options because HERO is financed as an assessment on your property. The interest on these payments may be tax deductible.* Approval for HERO is primarily based on the equity in your home and your debt payment history, rather than your credit score. HERO finances 100% of the cost to purchase and install eligible products, with fixed rates and flexible terms of 5-20 years, depending on the improvements you choose.
Should you decide to sell your property before your HERO assessment is paid in full, any remaining balance may be able to transfer to a new property owner.
*Property owners should consult their tax advisor regarding potential tax benefits
You will see a line item titled “HERO FINANCING” on your property tax bill. If you make property tax payments through an impound escrow account, your lender will adjust your monthly payment to include the amount due for HERO financing.
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 or call 855-HERO-411 (855-437-6411).
No. Only HERO Registered Contractors can install HERO eligible products. Each state has different qualification requirements in order to register for HERO. Contractors can determine applicable eligibility requirements on our website.
Specific eligibility requirements for residential properties include, but are not limited to, the following:
1. Applicant(s) must be the owner(s) of record for the respective Property.
2. Mortgage-related debt on the Property must not exceed 90% of the value of the Property.
Property owner(s) must be current on their property taxes and there must be no more than one late payment in the past three years.
3. Property owners must be current on all Property debt of the subject Property at the time of application and cannot 4. have had more than one 30 day mortgage late payment over the previous 12 months.
5. Property owner(s) must not have any declared bankruptcies within the past seven years, and the Property must not be an asset in any bankruptcy proceeding.
6. The Property must not have any federal or state income tax liens, judgment liens, mechanic’s liens, or similar involuntary liens.
Some criteria can vary state to state or city to city. For a full list of your eligibility requirements, give us a call at 855-HERO-411 (437-6411).
There are more than one million energy-efficient, and renewable energy products that qualify for financing through HERO. You can explore our list of eligible products for more information. Water-saving and drought-resistant products are available in some states, such as California. If you wish to install a product that is not on the list, contact us at 855-HERO-411 (855-437-6411) to get an application.