Solar subsidies in San Diego

An amazing new program to help and encourage homeowners to install solar panels on their homes has been adopted by a Southern California City.  Solar subsidies in San Diego start in July of this year and it could not be easier to go solar, if you are lucky enough to live in the city limits!

The largest program of its kind (and hopefully the impetus for many more) allows property owners to pay for the cost of solar panels over 20-30 years through an addition to the property tax bill as an assessment.  If you wish, the loan can be paid off early, as well.

The cities of Berkeley and Palm Desert offer similar programs, which are allowed by California law (AB 811), that authorizes municipal loan programs for renewable energy systems, repaid through property tax payments.

The City will finance the loans for solar energy with a fixed interest rate.  No worries if you sell your home before the loan is repaid.  They are fully transferable, or you can pay off the loan in full prior to selling the property.

Its such a great deal, particularly when combined with federal tax incentives and other rebates, that San Diego expects thousands of residents to sign up.

“By offering these financing options, . . . (San Diego) is putting solar power in the same paradigm as your current utility bills, where you are basically paying a little bit each month,” said Monique Hanis, spokeswoman for the Solar Energy Industries Association. “This is a great recipe for opening the doors for way more installations.”

While I live north of California, in Oregon, I hope that other states will adopt laws similar to AB 811.  For those in the Golden State, other cities should take the lead of San Diego, Palm Desert and Berkeley!

Anything that helps homeowners implement renewable energy options is a win-win, in my book.

Would you do install solar panels if the program was offered by your city?  Please weigh in through the comment section below.

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1. Success for San Francisco Solar Energy Incentive Program