Orlando votes to approve PACE financing

orlando solar PACE finance

The Orlando City Council voted to join the Florida Development Finance Corporation’s (FDFC) residential PACE Program.

“Orlando is committed to being the most sustainable city in America and to accomplish this it takes everyone, from our residents, business and government, doing all that we can to conserve, preserve and reuse our valuable resources,” said Orlando Mayor Buddy Dyer. “Adding this new financing option to our PACE program is another way we are providing the necessary tools to help our community reduce our impact on our environment.”

The FDFC has initially partnered with Renovate America, the company that administers the HERO Program, to bring the most extensive experience in PACE financing and the most comprehensive consumer protections to make Florida more energy efficient and hurricane-resistant.

RELATED: Small business solar: Q&A on shorter term, project-backed $1M loans with Wunder Capital 

HERO, which stands for Home Energy Renovation Opportunity, will enable homeowners in Orlando to make energy efficiency, renewable energy and hurricane-protection improvements and to pay for them at a fixed interest rate over time through their property taxes. HERO financing payments may have tax benefits, and many property owners who use HERO to finance home improvements see immediate savings on their utility bills.

Since HERO launched nearly five years ago, more than 80,000 homeowners have used it to finance more than $1.9 billion in energy and efficiency improvements throughout the United States. And by stimulating home renovation activity, the HERO Program increases demand for contractor services and boosts the local economy – all at no cost to government budgets.



The HERO Program is scheduled to launch in Florida early next year.

Have you checked out our YouTube page?

We have a ton video interviews and additional content on our YouTube page. Recently we debuted Power Forward! -- a collaboration with BayWa r.e. to discuss higher level industry topics as well as best practices / trends for running a solar business today.

Our longer running side project is The Pitch -- in which we have awkward discussions with solar manufacturers and suppliers about their new technology and ideas so that you don't have to. We've discusses everything from residential rail-less deck attaching and home solar financing to large-scale energy storage value stacking and utility-driven new home solar + storage microgrids.

We also post our Project of the Year announcements there! Interviews with this year's winners will be up starting the week of Nov. 8. Head there and subscribe today to stay on top of all this extra stuff.

Tags: , ,

Comments are closed here.