Solar Energy Financing

North Carolina PACE Financing

matthew — Tue, 19 Jan 2010 17:55:06 +0000

Congratulations, North Carolina property owners! You live in a state that supports property tax solar financing.

How does solar financing in North Carolina work?

Local governments across North Carolina are now allowed to create their own financing districts which would provide financing for the installation of renewable-energy systems and energy-efficiency improvements to buildings and homes. The loans can be repaid through an increased property tax assessment over a period of years. The loans will carry a fixed interest rate and stay with the house- so if you move, the next tenant continues to pay for the loan through property taxes. That means you don’t have to worry about paying for panels on a house that you don’t live in anymore.

That sounds great! How is North Carolina able to do this?

Thanks to North Carolina’s S.B. 97 law, enacted in August 2009, local governments that set up financing districts can offer loan programs to pay back investments in renewable energy systems through property tax payments.

Is solar financing available now?

Cities and counties have yet to implement their own property tax financing programs, but keep an eye out for local programs popping up across North Carolina soon!

Do you have more info on the status of this municipal solar and energy efficiency financing program? Let us know and we will update this page with your tips.

Vermont’s Feed-In Tariff (FIT)

tania — Tue, 01 Sep 2009 00:27:24 +0000

Congratulations, Vermont property owners! You live in a state with a feed-in tariff (FIT) program!

How does Vermont’s FIT work?

In an effort to encourage the rapid development of renewable energy technologies, Vermont has enacted a FIT that will apply to renewable energy systems that are up to 2.2 megawatts in capacity. The FIT allows for power purchase contracts of up to 25 years in duration for solar energy projects, and sets a statewide program cap of 50 megawatts, after which new generators will no longer be offered the incentives. While the law specifies a standard offer rate of $0.30 per kilowatt-hour of electricity produced by solar systems, it has also directed the Vermont Public Service Board (PSB) to conduct an economic analysis either to approve or adjust the rates based on criteria set for in the law. Since it’s expected that the tariffs will decrease as the technology progresses, the tariffs will be reviewed and reset every two years.

That sounds great! How is Vermont able to do this?

The FIT was established thanks to the Vermont Energy Act of 2009 (a.k.a. the H. 446 bill), which was enacted in May 2009.

Is the FIT available now?

Details of the FIT are still being mapped out, and the final rules will be issued by January 15, 2010.

Do you have more info on the status of this feed-in tariff program? Let us know and we will update this page with your tips.

Gainesville, Florida’s Feed-In Tariff (FIT)

tania — Wed, 26 Aug 2009 00:57:12 +0000

Congratulations, Gainesville property owners! You live in a city with a feed-in tariff (FIT) program!

How does Gainesville’s FIT work?

The City of Gainesville was the first in the nation to enact a solar FIT. The city-owned utility, Gainesville Regional Utilities (GRU), offers its electric customers—both business and residential—the chance to invest in solar photovoltaic systems and sell all the electricity that they produce directly to GRU. Participants signing up for the program before 2011 will be guaranteed a fixed rate of $0.32 per kilowatt-hour of electricity produced for 20 years, an estimated 4-6 percent return on investment.

That sounds great! How is Gainesville able to do this?

The FIT was established thanks to the City of Gainesville’s Ordinance No. 080566, enacted in March 2009.

Is the FIT available now?

GRU has received enough applications to reach their annual cap of 4 megawatts through 2015. They are now accepting and approving applications to fulfill targets for 2016.

If you have a reservation for some time in the future, you can now install your system immediately and get market rate for the energy your system produces until your FIT reservation becomes active, at which point the higher rate kicks in.

There is also a commercial net-metering system that allows people with solar panels to use their own electricity, and if there is any excess energy produced, GRU credits the bill. This allows people who missed the line for the feed-in tariff to still install panels with some type of incentive.

Click to check out GRU’s sign-up procedures.

Do you have more info on the status of this feed-in tariff program? Let us know and we will update this page with your tips.

New York PACE Financing

tania — Thu, 20 Aug 2009 23:51:21 +0000

Congratulations, New York property owners! You live in a state that supports property tax solar financing.

How does New York’s financing program work?

New York allows counties, towns, and cities to set up loans for renewable energy and energy efficiency improvements to be paid back through property tax payments over a period of 15 to 20 years. The loans carry a fixed interest rate and stay with the house– so if you move, the next tenant continues to pay for the loan through property taxes. That means you don’t have to worry about paying for panels on a house that you don’t live in anymore.

That sounds great! How is New York able to do this?

Thanks to New York’s AB 40004A law, counties and municipalities can set up their own loan programs. Approved by the New York State legislature on November 16th 2009, this law expands the financing options authorized by the state under the previously-enacted New York AB 8862. The earlier bill permitted towns to include the operation of a home energy efficiency program within their refuse and garbage districts. AB 40004A is much broader, and allows counties, towns cities and villages to create loan funds for renewable energy systems or energy efficiency retrofits, repaid through property taxes.
Even more exciting, this law will enable New York municipalities to take advantage of federal funding. The U.S. Department of Energy announced in October that it would offer $454 million to support PACE pilot programs around the country through the Recovery Act, and now New York communities can join municipalities in other states applying to receive a portion of these funds.

Is the solar financing program available now?

So far, Babylon, Binghamton and Bedford have already established clean energy financing programs through AB 8862, and others are sure to follow with PACE programs. Keep your eye out for more locations popping up in the near future!

Do you have more info on the status of this municipal solar and energy efficiency financing program? Let us know and we will update this page with your tips.

Illinois PACE Financing

tania — Wed, 19 Aug 2009 00:07:22 +0000

Congratulations, Illinois property owners! You live in a state that supports property tax solar financing.

How does solar financing in Illinois work?

Municipalities across Illinois are authorized to create their own financing districts which would provide financing for the installation of renewable-energy systems and energy-efficiency improvements to buildings and homes. The loans can be repaid through an increased property tax assessment over a period of years. The loans will carry a fixed interest rate and stay with the house—so if you move, the next tenant continues to pay for the loan through property taxes. That means you don’t have to worry about paying for panels on a house that you don’t live in anymore.

That sounds great! How is Illinois able to do this?

Thanks to Illinois’s SB 583 law, municipalities that set up financing districts can offer loan programs to pay back investments in renewable energy systems through property tax payments.

Is solar financing available now?

Not yet, but SB 583 will be effective starting January 2010!

Do you have more info on the status of this municipal solar and energy efficiency financing program? Let us know and we will update this page with your tips.

Los Angeles County PACE Program

tania — Tue, 18 Aug 2009 21:31:33 +0000

We’re workin’ on it! Los Angeles County will soon support property tax solar financing.

How does L.A. County’s municipal solar financing program work?

In a nutshell, L.A. County’s program will allow homeowners to pay for solar panels and other energy efficiency improvements over a 10-20 year period through property tax bills. The loans will carry a fixed interest rate and stay with the house—so if you move, the next tenant continues to pay for the loan through property taxes. That means you don’t have to worry about paying for panels on a house that you don’t live in anymore.

That sounds great! How is L.A.County able to do this?

L.A. County’s program is made possible thanks to California’s AB811 law, which allows loan programs to pay back investments in renewable energy systems through property tax payments.

When Will the Program Start?

Program details are still being mapped out, but it is planned to start July 2010. Loan terms will be between 10 and 20 years, depending on the amount financed. Also, an exciting part of this program is that it will use State and Federal grant funds to help get the lowest interest rate possible for property owner financing. These grants require that the property be energy efficient with conventional energy before going solar, so the program will also make financing available for energy efficiency upgrades, with or without solar systems!

Do you have more info on the status of this municipal solar and energy efficiency financing program? Let us know and we will update this page with your tips.

Wisconsin PACE Financing

tania — Thu, 13 Aug 2009 22:05:50 +0000

Congratulations, Wisconsin property owners! You live in a state that supports property tax solar financing.

How does solar financing in Wisconsin work?

Local governments across Wisconsin are now allowed to create their own financing districts which would provide financing for the installation of renewable-energy systems and energy-efficiency improvements to buildings and homes. The loans can be repaid through an increased property tax assessment over a period of years. The loans will carry a fixed interest rate and stay with the house- so if you move, the next tenant continues to pay for the loan through property taxes. That means you don’t have to worry about paying for panels on a house that you don’t live in anymore.

That sounds great! How is Wisconsin able to do this?

Thanks to Wisconsin’s AB 255 law, enacted in May 2009, local governments that set up financing districts can offer loan programs to pay back investments in renewable energy systems through property tax payments.

Is solar financing available now?

Cities and counties have yet to implement their own property tax financing programs, but keep an eye out for local programs popping up across Wisconsin soon!

Do you have more info on the status of this municipal solar and energy efficiency financing program? Let us know and we will update this page with your tips.

Oklahoma PACE Financing

tania — Thu, 13 Aug 2009 21:23:49 +0000

Congratulations, Oklahoma property owners! You live in a state that supports property tax solar financing.

How does solar financing in Oklahoma work?

The State of Oklahoma authorizes counties to create and manage “County District Energy Authorities” to provide financing for renewable energy and energy efficiency improvements. Property owners can pay for solar panels and other improvements over a period of time through property tax bills. The loans will carry a fixed interest rate and stay with the house- so if you move, the next tenant continues to pay for the loan through property taxes. That means you don’t have to worry about paying for panels on a house that you don’t live in anymore.

That sounds great! How is Oklahoma able to do this?

Thanks to Oklahoma’s SB 668 law, enacted April 2009, property owners statewide can participate in such county-run programs.

Is solar financing available now?

There’s word that Tulsa County is developing a property tax solar financing program, but details have yet to be mapped out. Keep your eye out for county-run programs popping up across Oklahoma!

Do you have more info on the status of this municipal solar and energy efficiency financing program? Let us know and we will update this page with your tips.

Ohio PACE Financing

tania — Thu, 13 Aug 2009 18:38:50 +0000

Congratulations, Ohio property owners! You live in a state that supports property tax solar financing.

How does solar financing in Ohio work?

The State of Ohio authorizes municipalities to establish special energy improvement districts that offer property owners financing for solar power. The property owner repays the loan through a special assessment on the property tax bill over a 25-year period. The loans will carry a low interest rate and stay with the house—so if you move, the next tenant continues to pay for the loan through property taxes.

That sounds great! How is Ohio able to do this?

Thanks to Ohio’s HB 1 law, enacted July 2009, property owners statewide can participate in such municipality-run programs.

Is solar financing available now?

Not yet, but soon! The idea of municipal solar financing in Ohio was pioneered by the city of Athens, which is in the process of finalizing details of a municipal program based on the new legislation. The program—called the Athens Solar Initiative—aims to utilize existing state and federal incentives to significantly reduce the cost of solar systems.

Do you have more info on the status of this municipal solar and energy efficiency financing program? Let us know and we will update this page with your tips.

Texas PACE Financing

tania — Wed, 12 Aug 2009 01:17:05 +0000

Congratulations, Texas property owners! You live in a state that supports property tax solar financing.

How does solar financing in Texas work?

Municipalities across Texas are now allowed to create their own financing districts which would provide financing for the installation of renewable-energy systems and energy-efficiency improvements to buildings and homes. The loans can be repaid through an increased property tax assessment over a period of years. The loans will carry a fixed interest rate and stay with the house- so if you move, the next tenant continues to pay for the loan through property taxes. That means you don’t have to worry about paying for panels on a house that you don’t live in anymore.

That sounds great! How is Texas able to do this?

Thanks to Texas’ HB 1937 law, enacted in May 2009, local governments that set up financing districts can offer loan programs to pay back investments in renewable energy systems through property tax payments.

Is solar financing available now?

Cities and counties have yet to implement their own property tax financing programs, but keep an eye out for local programs popping up across Texas soon!

Do you have more info on the status of this municipal solar and energy efficiency financing program? Let us know and we will update this page with your tips.