Berkeley, San Diego and Palm Desert have each recently started solar financing programs that allow their residents to borrow money for solar installations and then pay back the loan through their property taxes over 20 years. State nonprofit organization California Statewide Community Development Authority (CSCDA) wants to expand that solar love to the rest of the state.
The organization is launching their own financing program where the states' cities and counties can create initiatives like Berkeley's by joining the organization's project, meaning the cities and counties won't have to find their own investors.
The organization wants the project to eventually include improvements other than solar panels, like insulation and weatherizing. Right now cities and counties are the only entities that can join the project, but in the fall the initiative will open up to individual businesses and residents.
written by Solar Financing, July 14, 2010
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