As we continue down the road to more green types of energy solar panels are touted as being the one way that individuals can do their part. The big problem with that though is the cost outlay to buy and install those solar panels. While many people might like the idea of being able to give the power companies the big index finger the vast majority just don’t have those type of funds.
Well it would seem that the city of San Diego has realized this and have come up with possible solution that just might encourage more people to go solar. Starting in July the city will being launching a new initiative that will see the city finance the cost of the solar panels and allow homeowners to pay back the loan with their property tax bills over 20 years.
The loans will be at a fixed rate and will be transferrable if you sell your home during the life of the loan.
It is nice to see that San Diego can realize the benefits of solar power – especially in the hands of individuals – and is willing to make this kind of investment. Not too mention as well that this would also see additional funds being added to the city coffers through the interest being charged on the loans. One would think that this is one of those win-win situations for everyone involved.
[hat tip to EcoGeek]
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