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Funding for Homeowners to go Solar: AB811

California bill AB811 was passed a year ago.  It allows cities and counties to make low interest loans to homeowners for the purpose of installing permanently attached energy efficiency and solar electric systems.

Renewable Funding

What makes the idea different is that homeowners would pay the loans back though assessments on property tax bills.  The liens transfer to any subsequent owner if the property is transferred.

It should be easier for cities to raise bond money to finance these programs because the loans are secured by liens.  With property values lower, and more people out of work, perhaps many homeowners will get a better rate for funds if they get it through this new type of program compared to a traditional second mortgage.

Now cities need to step up to the plate and implement the program for their residents.

A company called Renewable Funding is promoting this financing arrangement.  Check their link below to learn more.

CityFIRST Overview

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