HERO Financing: Solar Savings for select cities in Southern California

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 practical reality. Qualifying for HERO financing requires no minimum credit scores, no income hurdles, and no personal guarantee.
HERO stands for Home Energy Renovation Opportunity and HERO financing is available for a wide array of home energy and water efficient products and renewable energy systems – including solar panels and inverters.

HERO stands for Home Energy Renovation Opportunity and HERO financing is available for a wide array of home energy and water efficient products and renewable energy systems – including solar panels and inverters.

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Riverside County HERO Financing

  • Banning
  • Calimesa
  • Canyon Lake
  • Corona
  • Eastvale
  • Hemet
  • Jurupa Valley
  • Lake Elsinore
  • Menifee
  • Moreno Valley
  • Murrieta
  • Norco
  • Perris
  • Riverside
  • San Jacinto
  • Temecula
  • Wildomar
  • The Western portion of the unincorporated area of the County of Riverside

 

San Diego County HERO Financing

  • Carlsbad
  • Chula Vista
  • Lemon Grove
  • Oceanside
  • San Marcos
  • Solana Beach
  • Vista

 

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, they may think that the initial investment costs are too steep.

But many 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.

 

Solar Financing Options

At Baker Electric Solar, 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.

Monthly Lease:

Why buy the equipment when what you really want is the low-cost power it produces? If this sounds like you, a low monthly lease payment may be your right fit. When you lease residential solar panels, you see immediate savings with $0 up front costs and monthly payments typically 25%-35% less than your current average electric bill (assuming 100% energy offset).

Prepaid Lease:

This low risk, high return investment allows you to pay for 20 years of electricity up front for an incredibly low rate, giving you the benefits of owning the energy your residential solar panels generate without actually owning the system.

Lean toward leasing solar panels for your home for:

  • 20-Year Production Guarantee
  • 20-year bumper to bumper warranty, including inverter replacement
  • Easy transfer to incoming owner during sale of the home
  • Monthly Option or Cash Option (Prepaid)
  • Buyout Options
  • 700+ minimum credit score

Buy Your Home Solar System:

For homeowners who want to own the energy they create, financing a home solar power system to own, or a cash purchase, has great financial benefits and can result in an immediate increase in the value of your property.

Benefits of Buying:

  • Slightly more maintenance than a lease, potential to replace inverter
  • Performance Guarantee by Manufacturer
  • 10-year warranty for installation through contractor
  • Responsible for certain labor costs if they arise after 10 years
  • Panels Warrantied for 20-25 years
  • Own the residential solar system outright with no strings attached for the estimated 35-40 year lifespan

 

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.