Solar Becomes Affordable with Weak Economy, Innovative Financing
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| (Photo: Go Solar California) |
With the slowing economy, strong new incentives, and innovative financing methods, now may be the perfect time for homeowners to go solar. In fact, June was a record month for state solar rebate applications by California homeowners. As the economic slump slows demand for solar systems, manufacturers have been forced to cut prices, making panels cheaper. In the U.S., wholesale prices for some top-quality modules have fallen by 50% over the last year. Also, as part of the economic stimulus package, the federal government has boosted tax credits to homeowners who install solar – offering credits for up to 30% of the cost. Combined with incentives from the state of California, those subsidies could slash the cost of some systems by 50% or more.
New financing methods are also aiding homeowners. In some areas, homeowners can choose to finance their solar systems through increased property taxes, helping them to avoid high up-front costs. Under this method, homeowners can also pass on the cost of the panels to future owners if the house is sold. Sonoma County has enacted a particularly successful local program.
Finally, homeowners in some areas can also benefit from group discounts. One company called One Block Off the Grid (1BOG), helps to organize homeowners into groups of 100 or more to get better deals from solar installers, leveraging the bargaining power of a bigger buyer. 1BOG is also looking to expand its services to include homeowners seeking energy-efficiency upgrades.
For more information check out the full article in the Los Angeles Times, and the solar installation calculators on the Go Solar California website.
- Visit Go Solar California’s website
- Visit One Block Off the Grid’s website
- Read background: “Weak Economy Makes Solar Panels More Affordable to Homeowners,” by Marla Dickerson, Los Angles Times (8/1/09)
- Related: “Neighboroods Unite to Save on Home Energy Retrofits” (e-Newswire, 8/10/09)
Posted by Megan Toth on 08/10/09. Email story
Story link | Filed under: Renewable Energy, Residential





















