Think You Can't Afford A New Air Conditioner? Preferred Plumbing, Heating and Air Conditioning Explains New Financing Programs That Can Help

June 19, 2014 - Did you know that that you can pay later for something that saves you money immediately? The Clean Energy Upgrade program provides 100% financing to business and home owners for energy efficiency, renewable energy and water conservation improvements. What makes this program different is that the payments are linked to your property taxes.

This means if you need a new air conditioning system, you might be able use this program to purchase and install the unit now, but your payments are spread out and paid through your property taxes. The financing program, called PACE ("Property Assessed Clean Energy"),is managed through a company called Ygrene that has a partnership with the Coachella Valley.

Bruce F. Smith, president and general manager at Preferred Plumbing, Heating and Air Conditioning explains how it works:

Old Systems – if you are spending more than $300 per month on your air conditioning costs, your system is running inefficiently and should be replaced. You may be eligible to participate in the Ygrene PACE program.

Inspection – contact a certified Ygrene air conditioning specialist, such as Preferred Plumbing, Heating and Air Conditioning, to give you an inspection and recommendations on how the program might work for you.

No paperwork – Preferred Plumbing, Heating and Air Conditioning completely manages the process for you. We submit all the paperwork, requests, etc. to Ygrene for you. If Ygrene agrees that your property is eligible, we continue to manage any other necessary components. In fact, when the job is done, Ygrene pays us directly. No upfront out-of-pocket for you.

Payments – the loan amount is added to your property taxes and spread over many years.

Benefits – the benefits of the program are different than other financing options:

Your Ygrene-accredited A/C company manages the entire process for you

Your credit score has no impact on eligibility or interest rate

Funding is paid over a long period of time through your property taxes

Funding it is linked to the home and the property taxes, meaning the project does not have to be paid off if you sell or transfer the property (i.e., the new owner takes responsibility for the payments within the property taxes)

The improvements may increase the value of your home if you decide to sell

Ygrene is great resource if you need to replace your system, but can't afford to do so right now. However, remember that the company you work with must be Ygrene certified to implement the program. For more information about PACE and to schedule an inspection, call Preferred Plumbing, Heating and Air Conditioning at 760.863.0832.