Municipal Financing

image: Solar Panels 365

Affording solar panels for the typical American home can cost nearly 50,000$. The money to get those panels usually is covered by some home improvement loan...putting the home owner at risk if they decide to move...usually leaving the panels with the house, while hanging onto the loan.

Municipal Financing sees the implementation of solar panels in a community as a more infrastructural issue: ICC explains:

"Under municipal financing of solar power systems, initial solar power investments are covered by a loan from the city, which is secured by property taxes and paid back over time, generally with interest. The advantage of this system over private borrowing is two-fold. First, any homeowner is eligible (not just those with good credit), and second, the loan repayment obligation attaches to the house, not the individual. This means that if a homeowner invests in a solar power system and then moves, they are no longer covering the cost of the upgrade, but instead the loan repayment obligation passes to any future buyers."

Californians already have this option for increasing their local production of energy...with cities in states such as Texas, Colorado and Virginia tagging along.

Novel idea....treating energy production as real estate...and being financed by the city, it becomes a community investment...as energy that isn't consumed by the individual homes is fed back into the grid...

sources:
Institute for Southern Studies
NYTIMES: Harnessing the Sun, With Help From Cities

other energy sources:
wind: Staten Island Harnessing the Wind