Louisiana PACE Financing
Congratulations, Louisiana property owners! You live in a state that supports property tax solar financing.
How does municipal solar financing in Louisiana work?
Municipalities across Louisiana are now allowed to create their own sustainable energy financing districts. Communities that take advantage of this opportunity will allow their residents to pay for solar panels and energy efficiency upgrades through their property tax bills, eliminating the upfront costs that are a stumbling block for many potential consumers of solar.
That sounds great! How is Louisiana able to do this?
Local communities can set up their own programs thanks to Louisiana’s unanimously-passed SB 224 law, which allows loan programs to pay back investments in renewable energy systems through property tax payments.
Is the solar financing program available now?
The legislation has passed, so now it’s up to cities and counties to institute local programs. Baton Rouge is likely to take advantage of these new provisions in coming months. Keep an eye out for municipal solar financing programs popping up around Louisiana!
Louisiana’s commitment to renewable energy
Municipal financing will combine with Louisiana’s excellent tax incentives to make the state an extremely appealing place to install solar. Louisiana already provides for income and corporate tax credits for up to 50% of renewable construction and installation costs. Municipal solar financing will provide the final piece of the puzzle for many consumers, making solar cost effective immediately from the moment of purchase.