I personally have never been one who enjoys going out and spending a whole bunch of his money all at the same time. To be quite honest with you, I’m kind of a frugal sort who always agonizes over the major choices that I have to make. It’s served me pretty well over the years, though—so much so that I’m kind of proud of it! Now, this isn’t to say that I don’t ever have to drop a whole bunch of money all at once. I reckon this is why most homeowners that I know tend to prefer financing plans for major house investments instead of spending lump sums on upgrades.
Luckily for us in the Sacramento area, there are a whole lot of financing plans available, especially when it comes to upgrading your home’s HVAC system. These can, however, be a bit complicated, which is why I want to talk today about the HERO program air conditioner funding options and the most frequently asked questions homeowners have about it.
When you work with the HERO (Home Energy Renovation Opportunity) program to get your new air conditioner funded, you can have an HVAC tech out sooner than you may think, without having to pay for your new upgrade upfront or all at once.
The HERO Program: Air Conditioner Funding Frequently Asked Questions
Q: What Is HERO Financing?
The HERO program air conditioner funding options can cover up to 100 percent of energy-efficient or water-saving upgrades for your home. HERO offers up to 25-year terms for loans, along with fixed rates for money borrowed. Through HERO, homeowners can borrow up to 15 percent of their home’s value to use toward upgrades that are covered by the program.
Q: Does the HERO Program Air Conditioner Funding Cover a New AC Unit?
In a word, yes, but I think it’s also important to note that it covers more than that. Here’s a quick list:
- HVAC systems, including AC units and furnaces
- Windows and doors
- Plumbing and water heating appliances
- Solar panels
- Drought-resistant landscaping
Q: Who’s Behind the HERO Program Funding?
HERO is a local, government-approved PACE (Property Assessed Clean Energy) financing option. The next natural question is, of course, what exactly is PACE? PACE is a public-private partnership that makes energy-efficient upgrades affordable to homeowners. Basically, HERO financing is a type of loan offered by PACE.
Q: Where Are HERO Loans Available?
HERO is currently only available in two states: California and Missouri. Sacramento, the largest city in our area, was actually one of 16 cities and five counties across California that adopted HERO earlier this year, bringing the total number of Californians who can apply for the program up to a whopping 85 percent.
Q: Is the HERO Program Air Conditioner Funding a Good Deal?
Well, HERO financing is a good deal for any homeowner who is looking to make their home more energy efficient and lower their heating and cooling costs—as long as that homeowner is not planning to sell their house within the next 1-3 years. The loan is paid for through your property taxes, and it is possible to transfer it to the next owner, but it may make selling your home more difficult.
I’ve talked in the past about how the HERO program works for energy-conscious homeowners, but I don’t think a little refresher course on such an important topic would hurt. To learn more about the program, you can head on over to this handy HERO energy efficiency financing guide.
Q: Who Should I Call to Do My HERO-Approved Air Conditioner Installation Job?
Once you have your HERO financing in place and a basic idea of your desired renovations, it’s time to find the right contractor. Energy and water efficiency upgrades are complicated work, so you really want to take careful steps to find a contractor you can trust. These contractors should meet the following requirements:
- Have a valid California business license
- Maintain good standing with the HERO Program
- Adhere to industry-leading consumer safeguards
- Ask for payment only after you’ve signed off on the project
Now that you’re a HERO financing expert, it’s time for you to get busy planning the energy efficiency upgrades for your home. It’s an easy-to-access loan option and the requirements for applicants are simple.
One last thing I want to stress, though, is that I strongly recommend working with a contractor familiar with HERO financing. They can make sure the application is done right, and they’ll have plenty of experience installing the energy efficient touches you need. Luckily for you, our team at Bell Brothers is HERO approved! In fact, I bet we’ve even worked with some of your neighbors. Having questions about the HERO program air conditioning funding options available to you is only natural. It’s knowing who to ask that can make all the difference.
Contact the HVAC professionals at Bell Brothers to schedule a whole-house assessment for energy efficiency. We’ll offer recommendations and upgrades that are sure to increase your year-round comfort—and decrease your power bills.
Wondering how to finance a new HVAC system, windows, or plumbing? HERO is a unique financing option that helps California homeowners afford energy efficient upgrades to their home. Contact Bell Brothers, a HERO-approved contractor, to learn more. Our local HVAC, plumbing, and window specialists will walk you through the entire process, from applications to installation.
Image courtesy Goodluz