Improving water and energy efficiency and adding renewable energy features (conservation improvements) to a home are goals of many California homeowners to both reduce utility bills and help the environment. Solar panels and energy-efficient furnaces are examples of the types of conservation improvements many homeowners make which can serve both goals.
The cost of such improvements can be significant. The state of California has a strong interest in energy and water conservation efforts to help alleviate the state’s water consumption problems and to reduce greenhouse gas emissions.
To further these goals, California has instituted various financial programs to assist homeowners in making changes and additions to their homes. Private companies also offer reasonable leasing deals to allow homeowners to install solar panels with little or no upfront costs.
A new Legal Q&A from C.A.R. looks at two common ways for homeowners to install conservation improvements: PACE financing for residential one to four units and solar leases. The Q&A also specifically addresses the financing and transactional issues that arise from a homeowner’s use of these programs.