Going solar on installment plan for Monterey County
From the Californian:
Supervisors to consider allowing upgrade costs for property-tax addition
BY LESLIE GRIFFY lgriffy@thecalifornian.com
By next year, one of the biggest barriers to going solar — start-up costs — may disappear. In a move that officials hope will create jobs, save water and lessen the community's carbon footprint, Monterey County officials will consider joining a statewide effort allowing landowners to tack green improvements onto their property taxes.
The Board of Supervisors on Tuesday will discuss the measure. The voluntary program, enabled by a pair of state laws, joins together California communities that will issue bonds. The money raised by the bonds will then be loaned to property owners for solar or other green upgrades. The loan payments will be added to tax bills. That cash would then be funneled back into the program.
The plan will "increase green jobs, increase energy efficiency ... promote economic activity and reduce greenhouse gas emissions," Tim McCormick, the county's building services director, wrote in a letter to the California Energy Commission supporting the program.
Renewable Funding, California Communities and RBC Capital Markets would handle the bonds, as well as marketing and some administration duties related to the program.
Joining forces with other communities would ease the cost of issuing the bonds and setting up standards for the program, county staff wrote in a report for supervisors.
The new program, called CaliforniaFIRST, should begin operating by the end of 2010, whether Monterey signs on or not.
According to CaliforniaFIRST staff, paying for installation of solar panels or other green updates to homes and businesses is the main barrier for property owners considering such projects. Under the plan, payments are attached to the parcel and will be added to the property tax even if the original owner sells.
The program is based on similar project in Berkeley that issued its first bonds in 2008. There are similar programs in Los Angeles and other communities.
To attend:
The Monterey County Board of Supervisors will discuss joining a statewide solar initiative at 1:30 p.m.
Tuesday in the County Administrative Building, 168 W. Alisal St., Salinas.