Austin City Council Approves New Solar Rebate Plan

In a unanimous vote today, the Austin City Council approved Mayor Lee Leffingwell's plan to revive the city's foundering Solar Rebate Program with a new property tax financing plan. Under the new program, homeowners can take out a low interest, property tax based loan to cover the entire upfront cost of installing solar panels on their homes.

According to the mayor, this new financing option will "help make solar energy accessible to many more local residents, help them save money on their home energy bills almost immediately, and continue to build on Austin's growing reputation as a national leader on renewable energy initiatives."

A final vote will occur early next year to determine the details of the program's final implementation. However, today's vote makes Austin the first Texas city to establish a solar financing program.