Designed to provide low-interest rate financing that can reduce utility costs and boost the local economy, the HERO financing program gives homes in Riverside County and San Diego County a way to make their solar panel installation a reality. Qualifying for HERO financing requires no minimum credit scores, no income hurdles, and no personal guarantees.
HERO stands for Home Energy Renovation Opportunity. HERO financing is available for a wide array of home energy, water efficient products, and renewable energy systems – including solar panels and inverters.
Riverside County HERO Financing Opportunities
- Canyon Lake
- Jurupa Valley
- Lake Elsinore
- Moreno Valley
- San Jacinto
- The Western portion of the unincorporated area of the County of Riverside
San Diego County HERO Financing Opportunities
- Chula Vista
- Lemon Grove
- San Marcos
- Solana Beach
HERO financing lets you:
- Make payments with your property taxes
- Easily transfer your balance to the new owner if you sell your home, or relocate
In addition, eligible homeowners can combine the utility savings that HERO solar financing provides with the 30% Federal Investment Tax Credit for their solar panel installation.
Solar Financing Is Easier Than Ever
If you’re concerned about the cost of solar panels, HERO Financing is ready to lend a hand. It enables people to get solar panels now for zero down. You can pay off the cost of the panels through your property taxes, allowing you to benefit from solar power now instead of having to save up to make the purchase.
How Can You Save Money On The Cost Of Solar Panels Through Solar Panel Financing?
Many Southern Californians who are interested in going green know turning to solar power is an excellent way to conserve energy while decreasing dependence on fossil fuels. However, many believe that the initial investment costs are too steep.
But residents are finding it easy to switch to solar power through the local HERO financing program. They make their solar power technology payments through their property taxes at low, fixed-interest rates. If they sell their home before the financing is paid in full, they can arrange to pass the remaining payments to the next owner.
It would be a shame if homeowners in sunny Southern California were dragging their feet on adopting solar power technology simply because they didn’t know about their available solar financing options. The more people who can take advantage of these solar leases and power purchase agreements, the less we will be relying on fossil fuels and suffering from the pollution they create.
Other Solar Financing Options
At Baker Electric Home Energy, we have plenty of solar financing options to choose from. If you’re worried about the cost of solar panels, but you don’t know if HERO financing is for you, one of our solar energy consultants can walk you through all of our different solar panel financing choices so can enjoy the benefits of solar on our budget.
Qualifying For The Home Energy Renovation Opportunity (HERO) Program
In order to qualify for HERO financing, you must have over 10% equity in your home. A limited credit check is performed and the loan payment is made via your property tax bill which increases your tax write off for property tax. The payments can be made in 5, 10, 15 or 20-year terms and the interest rate varies from 6.75% - 8.75%.
If you’re interested in learning more about solar financing options or the HERO financing program, contact us today and one of our solar energy consultants will provide you with a free estimate and consultation.