This is a novel idea for other cities to follow. Of course it's Berkeley..(snark). In a good sense and dollars, the City of Berkeley will upfront the money to home owners who are interested in participating in a city-backed solar loans in exchange for paying the cost spread over 20-year property tax assessments. What a concept!
Via Earth2Tech.
The program solves a number of problems that have been holding residential solar back. First and foremost, it removes the high upfront cost of going solar with a large, lump-sum loan, around $20,000. And it goes even further, by attaching the loan to the property title — which means that if a homeowner moves before paying off the loan, they can easily pass the payments along to the new owner. Residential solar installers, on the other hand, often require customers to pay an extra fee to break their contract should they move.
More about the program, here, here, and here.
What comes with the city initiatives - opportunities for green business and green collar jobs. The pilot starts with 50 homes. However, think about the upside potential over the long run.
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