Berkeley moves ahead with solar-financing program

subscribe

The city of Berkeley has made a big step toward starting a pioneering program to provide city-backed loans to homeowners who install rooftop solar-electric systems.

The city council approved a new tax district that residents can join to finance solar energy systems through their property taxes.

Under the plan, the city will provide money for installation and material costs, which homeowners would pay back at a fixed rate over 20 years.

Residents would pay about $180 a month through their property tax bills for a typical $22,000 solar-electric system, but they should eventually recoup the money through lower electricity costs.

Next, Berkeley officials will select a lender to provide financing for the program. The city also plans to start holding workshops for interested homeowners.

Related News

texas electricity reforms

Texas Weighs Electricity Market Reforms To Avoid Blackouts

HOUSTON - The Public Utility Commission of Texas is discussing major reforms to the state’s electricity market with the purpose to avoid a repeat of the power failures and blackouts in February 2021, which led to the death of more than 100 people and left over 11 million residents without electricity for days.

The regulator is discussing at a meeting on Thursday around a dozen proposals to make the grid more stable and reliable in case of emergencies. Proposals include paying power generators that are on standby when the grid needs backup, and requiring companies to pre-emptively buy capacity to meet…

READ MORE
doe logo

U.S. Launches $250 Million Program To Strengthen Energy Security For Rural Communities

READ MORE

bill gates

Bill Gates’ Nuclear Startup Unveils Mini-Reactor Design Including Molten Salt Energy Storage

READ MORE

geothermal power

Swiss Earthquake Service and ETH Zurich aim to make geothermal energy safer

READ MORE

tagenergy-launches-france-largest-battery-storage-platform

TagEnergy Launches France’s Largest Battery Storage Platform

READ MORE