California adopts innovative solar loan law

Cities and counties can now make low-interest loans available to homeowners, and businesses, for the installation of photovoltaic solar panels, high-efficiency air conditioners and other energy saving improvements. Participants pay back the loans as part of their property taxes, and if they sell the property, the loan balance and the improvement is transferred to the new owner.

The new law, that makes this possible was passed Monday, as the solar and energy efficiency financing law.  It was inspired by two California pilot programs, that have yet to get off the ground, in Berkeley and Palm Desert.

Read about it at: California adopts innovative solar loan law
Source: Los Angeles Times
July 22, 2008