Clayton: Setting the PACE for energy efficiency
Contra Costa Times, January 28, 2015
The city may approve a Property Assessed Clean Energy program allowing homeowners to make energy-efficient home improvements that are financed as a property tax assessment instead of a regular loan.
Homeowners could now take advantage of a program first offered to commercial and multiresidential property owners. Funds for water- and energy-efficient projects such as windows and water pumps requires no credit or income verification because homeowners essentially tax themselves.
Jack Cooper, of Custom Exteriors Inc. explained the Home Energy Renovation Opportunity program to the Clayton council at their Jan. 6 meeting because city approval is required before the program can be authorized by the state in each municipality.
“Everybody benefits,” Cooper said later. “It reduces water and energy use, improves home values, and creates jobs. Lower utility bills help cover the cost of the payment and you get a tax deduction.”