Placer County Treasurer-Tax Collector Jenine Windeshausen was joined today by the Placer County Board of Supervisors as they officially launched mPOWER Placer, a financing program to help property owners install water and energy efficient technology. With approval by the Supervisors and an initial commitment of $33 million from the County treasury, the program will help lower utility bills and create thousands of local jobs.
|Placer County Supervisors F.C "Rocky" Rockholm (left),Kirk Uhler (right) and Treasurer-Tax Collector Jenine |
Windeshausen (seated) listen to Placer County homeowner Michele Skupic speak during the launch of
mPOWER, a County-funded program to help homeowners finance energy and water efficiency upgrades
to their homes.
"mPOWER Placer provides financing for Placer county property owners to make water and energy efficiency improvements including high efficiency windows and insulation, tankless water heaters, low flow water devices and smart sprinklers; heating ventilation and air conditioning (HVAC) zone control systems and solar energy systems,” Windeshausen said. “They can save 10 percent to 50 percent on home energy bills by making smart energy improvements. And during these difficult times, Placer County is investing in our community to create jobs, support small businesses and help residents.”
On July 21, 2008, Governor Arnold Schwarzenegger signed Assembly Bill 811. The legislation gives local governments the authority to finance the installation of energy efficiency and water efficiency improvements that are permanently affixed to residential, commercial, industrial, agricultural or other real property. Placer County is only the second county in California to take advantage of AB 811 and create a comprehensive financing program to increase conservation and create jobs. Through the $33 million County investment, mPOWER Placer is expected to support hundreds of local jobs.
“I signed AB 811 to enable local governments throughout California to create their own incentive-based approach to economic development, job creation and energy conservation,” Governor Arnold Schwarzenegger said. “mPOWER Placer is a great example of putting the purpose of the legislation into action and can serve as a model for other areas throughout the state. This program will have a positive impact on the local economy at a time when it is needed most.”
The financed amount is amortized and the annual amount due is added to the owner’s property tax bill each year until paid in full. If the property is sold, the unpaid amount stays on the property tax bill and the new owner assumes payment of the balance on the property tax bill each year. The money saved on water and energy could be more than enough to repay the additional amount on the property tax bill. Moreover, REALTORS® note that water and energy efficient homes sell faster and have a higher resale value. Property owners are encouraged to fill out an application online at mPOWERPlacer.org or in person at 3091 County Center Drive, Suite 130 in Auburn. The phone number is (530) 745-3590.