On December 5th, Mayor Jerry Sanders announced a plan that would allow San Diego residents to pay for solar energy installations through their property tax bills.
These long-term loans would carry a fixed interest rate and could be transferred to the new owner when a property is sold, meaning that the participating home or business owner need not be concerned with recuperating the value of the system if they move.
According to Andrew McAllister, CCSE's Director of Programs, "This approach could well be a game-changer by overcoming the first-cost barrier and enabling a wide range of San Diegans to go solar. We're very excited to assist the City on this program." Stay tuned for further developments early in the coming year.
Also, beginning January 1, 2009 the federal government will significantly raise its incentives by removing the existing $2,000 investment tax credit (ITC) cap for residential projects. Both residential and commercial projects will thus enjoy the 30% ITC on the full system value. “This is a huge incentive for people to go solar,” said California Solar Initiative Program Manager, John Supp. “The credit now will cover about 25% of the average system's cost, where as before it was 5% or even less.”
Find out more information about the California Solar Initiative in the San Diego region or attend a free workshop at the California Center for Sustainable Energy
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