Renovate America, the company that created the fast-growing HERO Program, announced the launch of HERO Direct Pay, a service that enables contractors to grow their businesses faster while running numerous HERO financed solar projects without credit constraints.
The HERO Program makes energy efficiency affordable for property owners as HERO partners with local governments to provide safer, smarter financing for home upgrades. For many contractors, the opportunities to install solar systems through the HERO Program have grown faster than they can secure product because of their credit limitations. HERO Direct Pay, in conjunction with leading solar distributors, removes credit limit barriers for contractors.
The HERO PACE Program provides affordable financing solutions for not only solar but also water- and energy-efficiency improvements where customers pay for the improvements over time through their property taxes. The HERO program has financed more than $850 million in solar and other efficiency programs since 2012, with a life-time energy savings of 5,798,907,980 kwh in California.
“HERO Direct Pay is a great solution for small- and medium-sized solar contractors who have high customer demand because of HERO PACE financing, but can’t fulfill that demand because of credit constraints,” said Greg Memo, Executive Vice President of Business Development and Product Strategy for Renovate America. “Now these companies can obtain the products and financing they need to fuel the growth of their businesses.”
HERO Direct Pay does not affect a contractor’s existing credit limit or access to credit with a participating distributor because payment is secured through HERO and then processed directly through the distributor. HERO Direct Pay is available only to HERO registered contractors who are approved by a Direct Pay distributor.
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