Earlier this month, Austin Energy announced significant cutbacks to its solar rebate program. Under this rebate program, residents and business owners could install solar panels on their property and receive a rebate from the city that would cover up to two-thirds of the cost. However, the recent cutbacks suspended funds for pending projects and decreased the amount of money available for future projects.
On Friday, Austin Mayor Lee Leffingwell proposed a new financing option for solar panels. Under the mayor's plan, homeowners could receive a low-interest loan from the city that would cover the entire cost of installing solar panels. Residents who receive this loan would then pay back the city through a line item in their property taxes.
While other Texas cities have considered similar financing programs to encourage the spread of solar power, Austin would be the first city to implement such a plan if it is approved. The Austin City Council meets this Thursday to consider the proposal.
Monday, October 19, 2009
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment