Berkeley to finance solar projects

On November 6th, civic leaders in Berkeley, California, will vote on a plan for the city to finance the cost of solar panels for property owners who agree to pay it back with a 20-year assessment on their property.

A story in Friday's San Francisco Chronicle outlined how the plan would work.

A property owner would hire a city-approved solar installer, who would determine the best solar system for the property, depending on energy use.

The city would pay the contractor for the system and its installation, minus any applicable state and federal rebates, and would add an assessment to the property owner's tax bill to pay for the system.

The extra tax would include administrative fees and interest, which would be lower than what the property owner could obtain on his own, because the city would secure low-interest bonds and loans, officials say. The tax would stay with the property even if the owner sold, although the owner would have to leave the solar panels.

The property owner would save money on monthly Pacific Gas & Electric bill because electricity generated by the solar panels would partly replace electricity delivered by the utility. After the assessment expired, the solar panels - of a simple technology that requires little or no maintenance - would continue to partly replace PG&E electricity.

According to Berkeley Mayor Tom Bates:

This plan could be our most important contribution to fighting global warming. We've already seen interest from all over the U.S. People really think this plan can go.

Let's hope it passes muster in Berkeley City Council Chambers on November 6th.

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