Cashing in on the Sun in San Francisco

According to CNN.com San Francisco may become the most affordable place to go solar in the US. San Francisco has developed an enterprising plan to help it’s residents and businesses use the sun’s limitless power to supply their energy needs.

It was announced Tuesday, Dec 10,2007 that they plan to offer additional rebates, along with state and federal, as well loans for the remaining cost. They would be available to both residents and businesses located in the San Francisco.

The idea behind only chosing solar for these perks may have something to do with what Mayor Newsom said. “The reality is the climate in the Bay Area, the climate in San Francisco specifically, is ideally situated for solar.” Unfortunately other alternative energy sources will not be recieving these additional benefits.

With this plan the up front cost of solar electric systems could be greatly reduced and then paid for over 20 years. Which could be under or around $100 a month, depending on interest charged, for the estimated cost left of $11,000 – $12,000 after all rebates are taken. Though rebates would be applied for by the homeowner, they are expected to be paid to the contractor who would then take it off the price of the system. These rebate can range from $3,000 to $5,000 for residential use and up to $10,000 for business. With the available $7,000 state rebate and additional $2,000 tax credit already available to residents of California that makes the estimated cost of a 3-kilowatt roof solar electric system of $24,000, a lot more manageable, $12,000 or less.

A thing to worry about is that as they are advertising this plan it still needs to be approved by the voters for the loan portion of the plan. With the rebate portion just needing the approval of the Board of Supervisors.

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