Los Angeles County PACE Program

posted by Dave Llorens on August 18th, 2009

laWe’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.


Facebook Comments


Leave a Reply

High electricity bill? We can help.

At One Block Off the Grid, our job is to help homeowners save money and go solar by providing the best options straight from the nation's leading solar providers.

Free Home Solar Quote
FIND OUT HOW MUCH YOU'LL SAVE BY GOING SOLAR


Like this? Click the "like" button to share it on Facebook.

Los Angeles County PACE Program

[X] Close

Share on Tumblr