Berkeley FIRST Financing Initiative for Renewable and Solar Technology

April 23, 2009 at 4:15 pm 1 comment

 Berkeley FIRST is a solar financing program operating in the City of Berkeley. It provides property owners an opportunity to borrow money from the City’s Sustainable Energy Financing District to install solar photovoltaic electric systems and allow the cost to be repaid over 20 years through an annual special tax on their property tax bill. The tax will only be paid by Berkeley property owners who voluntarily participate in the Berkeley FIRST program.

Berkeley FIRST is intended to solve many of the financial hurdles facing property owners who want to install solar systems. To calculate the cost benefit of the Berkeley FIRST program for your household energy needs please see the UC Berkeley RAEL calculator on the UC Berkeley website. The advantages of the Berkeley FIRST program are:

* There is relatively little up-front cost to the property owner.
* The cost for the solar system is paid for through a special tax on the property, and is spread over 20 years.
* The financing costs are comparable to a traditional equity line or mortgage.
* Since the solar system stays with the property, so does the tax obligation—if the property is transferred or sold, the new owners will pay the remaining tax obligation. Read more.

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Entry filed under: Building & Remodeling, Political Action, Recycling & Conservation, Renewable Energy, Solar Electric, Solar Hot Water, Water. Tags: .

Green Initiative NYC video – Charlie Rose Green Hawai’i – Online Magazine

1 Comment Add your own

  • 1. Tony  |  April 25, 2009 at 3:22 am

    I think its very important that people really start to think about ways to save money and the planet by using multifuel,solar or wind.

    Reply

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