August 18, 2009

State nonprofit organization California Statewide Community Development Authority (CSCDA), is planning to launch a solar financing program that could make the technology a lot more affordable all over California. According to Greentech Media, the project is a similar but larger version of the one launched by the city of Berkeley recently.

In a nutshell, the city will sell bonds to finance residents borrowing money for solar installation, to be repaid (along with the corresponding interests) in a span of 20 years through property taxes. This project planned by CSCDA will allow California's cities and counties to launch initiatives similar to Berkeley's; by joining CSCDA's project, individual towns wouldn't have to find their own investors.