East Bay Area Real Estate

The Berkeley City Council approved a plan to help property owners buy solar energy systems without paying any money up front.

The plan is likely to go into effect in about eight months, after the legal and accounting details are worked out. When it’s finalized, the city will borrow money at a relatively low interest rate to pay for solar panel installation for property owners who want to participate. Because the city would be borrowing a large sum of money, the interest rate would be lower than what a property owner could secure individually.

Links:
Berkeley Breakthrough on Financing Solar Energy - Berkeley Mayor’s Office
City Council unanimously OKs solar financing district Property owners could opt for tax to cover setup costs SFGate.com