AB811 is a unique piece of legislation which allows borrowers to pay backinvestments in solar panels through property tax payments over a 20year period. Rather putting residents through the pain of obtaining theupfront cost to go solar, more cities are encouraging their localresidents get started with green energy by offering low interest loansthat removes the largest barrier to entry and increases the adoptionrate of solar panels.
Since homeowners are used to paying theirelectric bills on a month to month basis, buying solar panels isnontraditional because the homeowner has to prepay their electric billfor the next 30 years. This is where the financing solves that problemby giving the homeowner the ability to make month to month payments ona solar electric system on their rooftop.
Berkley, Palm Desertand Sonoma (cities in California) already have programs in place toprovide financing to its citizens. Now San Diego has jumped on the AB811 bandwagon, their program is going to start in July of this year.What do you think about more cities offering financing for solar panelsthrough property taxes? Would you purchase a solar electric system ifyour city offered financing? Do you think this financing method willcatch on to more cities around CA?