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Malibu Launches HERO PACE Program to Help Homeowners
Conserve Water and Energy

Program allows financing through property tax payments to help residents install water & energy-saving technologies.

(Malibu CA) - The City Council has officially launched the HERO Property Assessed Clean Energy (PACE) Program, which enables homeowners to make energy- and water-efficiency improvements and pay them off through their property tax bill. Property owners repay the assessment over five, 10, 15 or 20 years with tax-deductible interest, giving homeowners an immediate savings on their electric and water utility bills.

“With mandatory water reductions taking effect, HERO is coming to Malibu at just the right moment,” said Mayor John Sibert. “This innovative water and energy conservation program makes it easy for homeowners to do the right thing for the environment and the smart thing for their pocketbook.”

Launching HERO is in keeping with Malibu’s high priority on environmental sustainability initiatives. HERO-funded renovations can dovetail with existing home energy rebates, landscaping incentives, and water conservation requirements for Malibu residents.

Malibu is one of 37 cities within Los Angeles County that, along with the unincorporated areas of the County, recently launched HERO. They join 47 additional L.A. County cities that have already launched HERO over the past year, with over 2,000 projects completed for more than $47 million in financing. Taking part in the HERO Program is 100% voluntary for both jurisdictions and property owners. Because the program is cost neutral to participating local governments, it made sense to bring this program to Malibu as soon as possible. HERO's success in California is part of a national trend, with PACE programs now flourishing in 31 states.

“Homeowners know that investing in energy and water efficiency saves money in the long run. Now most homeowners can access affordable financing to make these efficiency upgrades,” said Blair

McNeill, Vice President of Community Development for Renovate America, the company that administers the HERO Program.

As California's drought drags on, eligible retrofits give homeowners a fast, affordable way to lower their water bill and conserve a crucial and dwindling resource. HERO has more than 50 product lines to help homeowners save water, including high-efficiency toilets, faucets and showerheads; rainwater catchment systems; graywater systems; and drought-tolerant landscaping retrofits with efficient irrigation systems.

A wide variety of energy-saving products are available through HERO as well, including solar power panel installations, whole-home heating and cooling (HVAC) systems, energy-saving windows and doors, and roofing and insulation.

HERO is now available to more than 10 million households in 318 communities in California. It has helped fund almost 33,000 residential efficiency projects, totaling more than $639 million in financing. By stimulating home renovation activity, the HERO Program increases demand for contractor services. In this way, HERO has helped to create 5,426 jobs in the state since December 2011.

To learn more about the HERO Financing Program, and to apply, property owners can visit www.HEROProgram.com/Malibu [www.HEROProgram.com/Malibu] or call 855-HERO-411 (855-437-6411).

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