Berkeley Approves City-Backed Loans for Solar Panels. By Felicity Barringer, NYTimes, September 17, 2008. "The Berkeley City Council moved late Tuesday to eliminate one of the biggest obstacles to making homes more energy-efficient: the upfront cost. In a move being watched by other cities around the country, the Council unanimously approved a program to give city-backed loans to property owners who install rooftop solar-power systems. The loans, which are likely to total up to $22,000 apiece, would be paid off over 20 years as part of the owners' property-tax bills... This is the first time that a special property tax district has been created expressly to help retrofit homes and businesses to reduce electrical use. In Berkeley, these districts have previously been used to pay for neighborhood improvements, like burying electrical wiring. Property owners can opt to join the new district, which was established by the council vote. The final piece of the puzzle, however, is still missing: a deal with a lender whose capital the city would use to finance the program. At first, Berkeley seeks to raise $1.5 million for a pilot program for about 50 homes. If its program is successful, the kitty could eventually contain tens of millions of dollars, and hundreds of property owners could be eligible."
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