HERO Launches in Florida: A New Financing Option for Energy and Hurricane Resiliency Home Improvements
ORLANDO, Fla. — Homeowners in communities across the state of Florida now have access to an innovative form of financing called HERO, which allows them to make residential energy, efficiency, and wind-resistance improvements and pay for the upgrades over time through their property tax bill. Eligible improvements include solar panels; energy-efficient HVAC systems, roofing, and windows; and roof-to-wall connections, storm shutters and other products that can protect against wind damage and meet Florida Building Code requirements.
HERO, which stands for Home Energy Renovation Opportunity, is the nation's largest form of Property Assessed Clean Energy (PACE) financing and its launch is expected to bring multiple benefits to Florida communities and to individual homeowners. With the availability of HERO financing, local contractors should see greater demand for home energy and resiliency projects, providing a boost to small businesses. That in turn will create new jobs in the construction and installation sector—jobs that can't be outsourced or automated. For homeowners, the products eligible for PACE financing can lower utility bills or insurance premiums, while making homes safer and more comfortable. HERO is a public-private partnership between participating Florida cities and counties, the Florida Development Finance Corporation (FDFC) and Renovate America.