I was reading the editorial section of the Sunday newspaper that I do with religious regularity and someone wrote in about an idea that makes so much sense.
Some consumers out there just have so much to share when they express their ideas and it can really make quite a difference, especially if the idea makes good financial sense.
The idea actually for this editorial came from the city of Berkeley California that has proposed setting up a program that creates superb possibilities and answers two of the biggest problems for consumers to be able to afford solar energy at their own homes.
Problem #1 - High initial solar panel purchasing and installation costs
Problem #2 - Recovering the cost of providing solar when selling the home
Berkeley's plan overcomes both problems for the homeowners in one rather remarkable solution and it involves selling bonds for revenue used for purchasing of the solar systems and also a shared part of the installation costs. The homeowner only pays a shared portion of the costs for installation. The city would recover its investment and also recover its costs with an assessment over 20 years on the property tax bills. It ends up costing the city virtually nothing as the annualized cost of its share of the installation costs is more than offset with energy output savings.
As you can see, both problems are solved for the consumer in one "WOW" solution-and then only a shared cost for the installation and also saving more on energy costs the first year than the installation costs. So even during year one, the consumer would enjoy the energy savings while offsetting the increased property tax of paying back their share of the bond and interest costs paid by the city.
Problem two is solved as well and the solar addition to the home may actually become an asset of the property in making it more of a standout for desirability with decidedly reduced energy costs.
I know that if San Diego were to ever set up a program like this, I would want to be first in line to have solar. Can you even begin to imagine what it would like across the entire country if every city could do this? Talk about going green, this would be a giant leap. My belief is that if Berkley can do this , then we should all be encouraging our own cities to consider this option.
The consumer who posted this editorial and is making others aware of this wonderful idea is truly an asset to our community. With all the talk of going green and the expense of it, this sounds like a workable plan and harkens back to the idea " If there is a will, then there is away".
I will update this post when the city of Berkley announces final passage of the proposal expected sometime in September.
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This is absolutely fabulous. This works just like a "front foot benefit" bond repayment. We have them here to pay for municipal installation of water and sewer hook-ups. It's paid off over 23 years and the unpaid balance is assumed by any subsequent purchasers.
Great plan.