In 2009, the City of Saratoga joined the County of Santa Clara and other cities in the Santa Clara Valley as a member of the CaliforniaFIRST property assessed clean energy (PACE) program. Through the CaliforniaFIRST PACE program, property owners in Saratoga can receive a loan to fund energy efficiency, renewable energy, and water saving improvement projects on their home. The loan is then repaid through property taxes for a period of up to 25 years.
CaliforniaFIRST Program Features
100% financing option
Repayment terms of 5, 10, 15, 20, or 25 years with no prepayment penalties
Balance may transfer to new owner upon sale of home
Example Eligible Projects
Updating heating and air conditioning systems
Replacing inefficient lighting, doors, and windows
Installing drought tolerant landscaping
Installing solar panels or wind turbines
Adding an electric vehicle charging station
In addition to services available to residents, CaliforniaFIRST also offers financing for commercial properties. Loans are property qualified and can be paid back over a period of up to 20 years. Additionally, the balance can be transferred to a new owner upon sale.