Biden to model solar finance plan on Berkeley's

[Kadie]

Biden to model solar finance plan on Berkeley's
Carolyn Jones, Chronicle Staff Writer

Tuesday, October 20, 2009

The solar financing plan that originated in Berkeley in 2007 will become a national model, Vice President Joe Biden said Monday.

Biden's program, known as Recovery Through Retrofit, creates a framework for cities, counties and states to set up tax districts that allow residential and business property owners to install solar panels and make other energy improvements, repaying the investment over a 20-year property tax assessment.

"This is a remarkable validation of what Berkeley did," said Cisco DeVries, Berkeley Mayor Tom Bates' former chief of staff who drafted Berkeley's financing plan and now works at an Oakland firm that helps municipalities create similar plans. "For an idea that started in Berkeley, it's proven to be very non-ideological."

Since Berkeley adopted its financing plan, cities across the nation have adopted similar models, and California, New York, Texas and 11 other states have passed legislation making it easier for municipalities to create their own financing plans.

Berkeley's plan intends to eliminate the up-front cost of solar installation, which could total about $20,000 for an average bungalow, and the financial commitment that could follow property owners after they move from the home.

Under the plan, the assessment stays with the property, not the person. Property owners pay no money up front but pay about $180 a month on their property tax bill, an amount that is offset by the energy saved from generating solar power.

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/10/19/BAKT1A7R72.DTL&tsp=1#ixzz0UUHnTwT8

[GreenPartyVoter]

1. The up front costs are what keep a lot of people from trying to use solar panels. Yes, there is

the tax bill and that will still be a prohibitive cost to some, but at least the door has been opened a little wider than it was before.

[tk2kewl]

2. i like it...

and i assume you still get to write that local tax off as a fed income deduction.