Solar Panel Loans Through Local Government

Solar panel financing through property tax assessments

Solar panel financing is getting more common, as well as more creative!  We all know that one of the biggest hurdles to going solar is the upfront cost to do so.

Fortunately, there are a number of cities across the United States that are helping consumers install solar panels with a unique financing structure.  Homeowners may now apply for low-interest loans for solar improvements, through local government, which are then paid off through a property tax increase.

Want to know how it works?  Here is a video explaining California Assembly Bill 811:

Tap into solar financing loans through local government programs

California is not the only state that offers solar panel loans through local government.  If you live in Colorado, Florida, Louisiana, Maryland, Nevada, New Mexico, North Carolina, Ohio, Oklahoma, Oregon, Texas, Vermont, Virginia or Wisconsin your state legislature has also passed legislation that authorizes municipalities to establish Property Assessed Clean Energy (PACE) programs.

Yet, individual cities within these states must step forward to set up a solar panel loan program.

It is easier than you might think.

Here’s what you need to do (set aside 1/2 hour and you are done):

1) Download the sample support letter and our Vote Solar PACE guide that walks cities through the process of establishing a PACE program (or download UC Berkeley’s more detailed PACE Guide here).

2) Personalize the letter, including your mayor’s address.

3) Print the documents

4) Send the letter and the Introduction to PACE to your Mayor.

5) Email Annie annie@votesolar.org to let her know you took action so she can follow-up with your Mayor’s office.

Take a small amount of time to make a big difference.  Helping to set up solar panel loan programs through local government can encourage many more people to convert to the renewable energy resource – particularly when the upfront cost is minimized.

Do you live in an area that offers solar panel loans?  Have you or a friend tapped into the program?

We want to hear from you!

Tags: install solar panels, local government property tax, PACE, property assessed clean energy, solar panel financing, solar panel loans, solar power financing