Solar Power Financing Program For Commercial and Public Sector Announced by Helio mU
by Matthew McDermott, Brooklyn, NY on 08.19.08
We’ve written before about the Helio Green Energy program wherein homeowners can take advantage of solar power without having to worry about installing the panels themselves, doing maintenance or otherwise worrying about their renewable electric system.
Now comes word that Helio mU (that’s Micro Utility, not the mythical civilzation in the Pacific...) is partnering with Citi Community Capital to make financing solar power installations for the commercial and public sector a little bit easier.
Green Energy Community Investment Fund Finances Solar Power
The Green Energy Community Investment Fund will initially finance 4 megawatts of solar power through the end of 2008 throughout the United States. Four megawatts in the next four months? Some Federal renewable energy incentives are set to expire at the end of the year, remember?
Project Criteria
According to Helio, ideal criteria for participation in the program include:
1) Solar projects which can be completed by the end of 2008 so that Federal Incentive Tax Credit can be applied to the project.
2) Sites which are owner-occupied or have at least 10 years left on the lease.
3) Sites which have enough roof space for at least 50 kW or power capacity to be built—approximately 9,000 square feet.
4) Sites which have unobstructed sun exposure year round.
5) Sites which have electricity bills in excess of $2000 monthly.
6) Sites in California, New Jersey, or other sates with existing state-level solar incentive programs.
If that sounds like you, you can submit your project for consideration for this program through Helio's website.
photo by Kristin Resurreccion
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That's a great idea ! Solar power is the future of business and residential energy.