Kristy
09-18-2008, 11:30 AM
The loans, offered to property owners who install rooftop solar-power systems, would be paid off over 20 years as part of the owners? property-tax bills.
In a move being watched by other cities around the country, the Council unanimously approved a program to give city-backed loans to property owners who install rooftop solar-power systems. The loans, which are likely to total up to $22,000 apiece, would be paid off over 20 years as part of the owners’ property-tax bills.
While the more conventional approach of government rebates and tax breaks is being tried by the State of California and many other jurisdictions, this is the first time that a special property tax district has been created expressly to help retrofit homes and businesses to reduce electrical use. In Berkeley, these districts have previously been used to pay for neighborhood improvements, like burying electrical wiring.
More... (http://www.nytimes.com/2008/09/18/us/18solar.html?partner=rssnyt&emc=rss)
In a move being watched by other cities around the country, the Council unanimously approved a program to give city-backed loans to property owners who install rooftop solar-power systems. The loans, which are likely to total up to $22,000 apiece, would be paid off over 20 years as part of the owners’ property-tax bills.
While the more conventional approach of government rebates and tax breaks is being tried by the State of California and many other jurisdictions, this is the first time that a special property tax district has been created expressly to help retrofit homes and businesses to reduce electrical use. In Berkeley, these districts have previously been used to pay for neighborhood improvements, like burying electrical wiring.
More... (http://www.nytimes.com/2008/09/18/us/18solar.html?partner=rssnyt&emc=rss)