New Innovative Solar Financing Option Now Available for Poway Residents

POWAY, CA (Dec. 2, 2014) – Residents living in the City of Poway are now able to participate in a new government-backed solar financing program. Home Energy Renovation Opportunity (HERO) financing provides an opportunity to fund residential solar projects through property taxes. The innovative program allows residents to go solar for no money out of pocket and does not create personal debt. Local solar firm, Sullivan Solar Power, says that the program provides tax incentives and benefits that will be highly attractive to Poway residents.

The local government sponsored program is repaid annually through a tax assessment and the interest is tax deductible. This allows homeowners to tie their solar investment to property taxes, and the investment stays with the property when a homeowner moves. Annual payments are lower than current electric utility bills, and homeowners will secure a lower electricity rate for the term of the financing. HERO’s five year loan option when combined with the federal tax credit and additional tax benefits will typically offset the interest on the loan. The City of Poway and most of San Diego County have opted into the Property Assessed Clean Energy program.

“Property Assessed Clean Energy is a game changer for Poway property owners who have thought about going solar,” said Daniel Sullivan president and founder of Sullivan Solar Power, “Residents who thought they may be moving or don’t know how long they will be in the home can start saving money today.”

Poway homeowners that participate in the program will still receive the Federal tax credit that covers 30 percent of the total solar project cost. The solar payments will not be paid until property taxes are due.

“HERO is an innovative way for homeowners to go solar. For the first time, you are able to actually get tax deductions through your property taxes for the payments that you make on the system,” said David Savarese, Director of Project Development.

Sullivan Solar Power is a contractor partner of the new property tax solar program in Poway. To see if you pre-qualify for HERO, and to learn how to apply, call 1.800.SULLIVAN. Sullivan Solar Power will provide Poway residents a preapproval finance amount and give you an in depth evaluation to show you the great benefits of this new program.

For additional information call 1-800-SULLIVAN or visit www.heroprogram.com/sullivansolar