Home Solar Power Installation Loans Approved by Berkeley City Council

photo: Scott Kraft

If you live in Berkeley, California and have been put off by the initial costs of installing solar panels on your house, this one’s for you. Yesterday the City Council unanimously approved a program to give city-backed loans to homeowners to install solar panels, with the loan being payed off over 20 years on the owner’s property tax bill ( New York Times). Each loan would likely be around $22,000. It’s not a done deal though, one obstacle still remains:
Wanted: Lender to Work With City
The city still needs to find a lender to work with the city on financing the program. Initially the city hopes to raise $1.5 million for a pilot program covering 50 homes. If that proves successful the full version of the program, where hundreds of homeowners would be involved, will be rolled out.

The expected increase to the property taxes of people participating in the program is expected to be about $180 per month.

Solar As Service, Another Alternative
If that still seems like a lot to you, or if you aren’t a Berkeley resident, a solar as service program, such as the Helio Green Energy Plan, may be a better option. Under this sort of program the solar panels are installed and maintained by a third party while you just pay for the power they provide.

via :: The New York Times
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