Next Green Thing: Renewable Energy Funding

Municipalities all over the United Sates are trying to reduce greenhouse gas emissions. One of the biggest impediments to integrating renewable energy sources into the nation’s homes and public buildings is the cost. Residential solar installations can cost a homeowner somewhere between $12-25,000.

Conventional cost offsets come from local, state and federal government rebates and tax breaks, but a new funding model is in its infancy in – where else? – Berkeley, California. There the city will finance the cost of solar panels for property owners to be paid back over 20 years as a voluntary line item on their tax bills. It’s called renewable funding, and it’s catching on in other cities as well.

Cisco DeVries is managing director at Renewable Funding, and developed its model program, BerkeleyFIRST. He worked in the Clinton administration, including as an assistant to the U.S. Secretary of Energy. He joins Word of Mouth with more about the innovative financing plan.

(Photo by David TREBOSC)