New San Francisco Energy Efficiency Financing
Beginning in March 2010, the new GreenFinanceSF Program will make it even easier for homeowners to install green improvements.
The program will include energy efficiency projects, water conservation, and installation of solar energy systems. The word is that the administration is hoping for at least $150 million in funding for this program. If GreenFinanceSF is as successful as the GoSolarSF program was, you can expect every penny will be applied for and San Francisco will see another big wave of private sector solar and energy efficiency projects.
How it works:
- Home or business owner uses web site to research, calculate savings, and apply for the program
- If accepted the project is financed with a loan of up to 20 years. Payments are made via the annual property tax bill. Loan rate will be as low as possible and will depend on how many grants the city can obtain.
- Project is installed, owner sees immediate benefit in lower energy bills along with the good green warm fuzzies. The owner could also see some federal and state tax benefits.
- If the building is sold, the assessment for the project goes along with the building to the next owner, not the seller.
Keep an eye on the web site at: http://www.greenfinancesf.org/
Mayor's office press release: http://www.sfmayor.org/press-room/press-releases/press-release-mayor-newsom-signs-legislation-creating-new-green-financing-program/
More articles at: http://www.renewfund.com/node/233 and http://www.grist.org/article/2010-02-10-san-fran-commits-150-million-to-green-bay-area-buildings/
