Demand for solar energy subsidies puts stress on New York state program: "That should be good news for the 174 contractors registered with the state to install solar photovoltaic systems. But the demand has put such a strain on subsidies for residential solar that the state has reduced the amount offered, hoping to make a dwindling pot of money last through the end of the year.
A new round of funding for 2010 and beyond has not yet been approved, and that leaves solar power installers hanging. They can’t sign up customers until they know what the subsidy will be. And without customers, an emerging industry employing between 800 and 1,000 people statewide can’t create more “green-collar” jobs."
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Here is the most promising subside yet:
ReplyDeleteBusinesses and consumers want to buy clean energy technologies, but they are understandably hesitant about the high cost of efficiency upgrades. They need to see a return on investment in year one, not be promised a savings that pays off in year seven, eight or nine.
PACE Bonds backed by the US DOE provide the answer. The repayment period is up to 20 years. No personal debt is assumed because the lien is placed on the property and transfers with the property ownership. Since property taxes are usually deductible, the borrow should be able to derive a tax benefit.
For more information (See http://www.rollcall.com/features/Policy-Briefing_Energy-2009/energy_environment/39556-1.html)
Enjoy,
SCOTT LEWIS
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