Lincoln Educational Services Supports Home Run Financing's PACE Expansion in California Cities
- Home Run Financing gains approval from Lincoln's City Council to provide homeowners access to PACE funding for energy projects.
- Lincoln Mayor Holly Andreatta highlights PACE financing's role in empowering homeowners to adopt energy-saving measures.
- HRF's expansion of PACE financing offers homeowners in Lincoln greater opportunities for sustainable property investments.
Home Run Financing Expands Access to PACE Financing in California Cities
Home Run Financing (HRF), a prominent player in Property Assessed Clean Energy (PACE) financing, secures approval from the City Councils of Calabasas and Lincoln, California, to provide homeowners with access to PACE funding. This innovative financing option empowers residents to invest in renewable energy projects, enhance energy and water efficiency, and undertake seismic resilience improvements. The recent unanimous votes by both councils mark a significant step in broadening the reach of PACE financing, allowing Calabasas to join over 350 other municipalities in California that have embraced this initiative. The program aligns with the state's commitment to sustainability and energy efficiency, particularly as California grapples with ongoing environmental challenges.
Mayor Peter Kraut of Calabasas emphasizes the importance of the PACE program as a means to facilitate energy-efficient upgrades for local residents and businesses. By making financial resources available, the initiative not only fosters sustainability but also aims to enhance the overall quality of life within the community. Similarly, Lincoln Mayor Holly Andreatta underscores the role of PACE financing in empowering homeowners to adopt energy-saving measures. As the program gains momentum within these cities, it illustrates a collaborative effort to address environmental concerns while promoting economic growth through energy-efficient practices.
The expansion of PACE financing is particularly timely as California faces persistent drought conditions, prompting homeowners to seek funding for essential upgrades that can mitigate water consumption and enhance energy efficiency. HRF CEO Robert Giles highlights the significance of making PACE financing accessible in both urban and rural areas, noting its potential to assist homeowners in improving their properties and reducing energy costs. With stringent consumer protections established by state legislation and the Department of Financing Protection and Innovation (DFPI), homeowners can engage with registered contractors confidently, ensuring a secure financing process.
In addition to the approval in Calabasas and Lincoln, the PACE program has seen a notable extension within Placer County, where it is now available in four of the six cities. This development reflects a growing recognition of the financial and environmental benefits associated with energy-efficient upgrades. As municipalities increasingly adopt PACE financing, the program is poised to become a cornerstone in California’s strategy for fostering sustainable development while addressing pressing environmental issues.
With the backing of local governments and HRF's commitment to expanding funding options, homeowners in Calabasas and Lincoln now have greater opportunities to invest in their properties sustainably, contributing to a greener future for the state.