Solar Energy is a "Hot Spot" in Today's Economic Scene
August 6, 2009
There was a big headline in Sunday's Los Angeles Times that stated "You Can Go Solar Without Going Broke". It was a very informative article. If you would like to read it in full you can find it on http://www.latimes.com/. The reporter was Maria Dickerson.
The rebates available for homeowners installing solar power have been widely publicised. There are both State of California and Federal rebates available. For customers of the state's three large investor owned utilities, rebates started at $2.50, but these rebates shrink each year and by the time the rebate program ends in 2016 they are expected to be only 20 cents per watt . This is meant to be an incentive to go solar now rather than at some future date. The big rebate comes from the Federal government and is approximately 30% of the cost of the system after the state rebate has been deducted. Still, these systems are pretty pricey, $20,000-$30,000.
It was interesting to note that the number of residential solar applications are up with the month of June being a record month for applications.
There are now companies who will install a residential system and lease it back to the homeowner. Up front costs for a leased system are said to be minimal and there is no maintenance expense since the leasing company is responsible to keep the system in good working order. However, the lease is lengthy, typically from 15 to 20 years.
There is also a bill approved by the state legislature last year that grants California cities and counties the ability to offer low-interest loans to residents, who then repay them through assessments that appear on their property tax bills. So far, in our area, only Palm Desert has set up the program.
It seems that homeowners are investing in their homes even in this depressed real estate environment.
There was a big headline in Sunday's Los Angeles Times that stated "You Can Go Solar Without Going Broke". It was a very informative article. If you would like to read it in full you can find it on http://www.latimes.com/. The reporter was Maria Dickerson.
The rebates available for homeowners installing solar power have been widely publicised. There are both State of California and Federal rebates available. For customers of the state's three large investor owned utilities, rebates started at $2.50, but these rebates shrink each year and by the time the rebate program ends in 2016 they are expected to be only 20 cents per watt . This is meant to be an incentive to go solar now rather than at some future date. The big rebate comes from the Federal government and is approximately 30% of the cost of the system after the state rebate has been deducted. Still, these systems are pretty pricey, $20,000-$30,000.
It was interesting to note that the number of residential solar applications are up with the month of June being a record month for applications.
There are now companies who will install a residential system and lease it back to the homeowner. Up front costs for a leased system are said to be minimal and there is no maintenance expense since the leasing company is responsible to keep the system in good working order. However, the lease is lengthy, typically from 15 to 20 years.
There is also a bill approved by the state legislature last year that grants California cities and counties the ability to offer low-interest loans to residents, who then repay them through assessments that appear on their property tax bills. So far, in our area, only Palm Desert has set up the program.
It seems that homeowners are investing in their homes even in this depressed real estate environment.
posted by shirley harry at 8:58 AM
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