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is your city offering you financing to install solar?

AB 811 is a unique piece of legislation which allows borrowers to pay back investments in solar panels through property tax payments over a 20 year period. Rather putting residents through the pain of obtaining the upfront cost to go solar, more cities are encouraging their local residents get started with green energy by offering low interest loans that removes the largest barrier to entry and increases the adoption rate of solar panels.

Since homeowners are used to paying their electric bills on a month to month basis, buying solar panels is nontraditional because the homeowner has to prepay their electric bill for the next 30 years. This is where the financing solves that problem by giving the homeowner the ability to make month to month payments on a solar electric system on their rooftop.

Berkley, Palm Desert and Sonoma (cities in California) already have programs in place to provide financing to its citizens. Now San Diego has jumped on the AB 811 bandwagon, their program is going to start in July of this year. What do you think about more cities offering financing for solar panels through property taxes? Would you purchase a solar electric system if your city offered financing? Do you think this financing method will catch on to more cities around CA?

Author: Deep Patel

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