Proposed solar financing program hopes to give Santa Cruz a boost
Solar technology is nothing new, but a new loan and incentive program is attempting to make it more worthwhile than ever.
Santa Cruz City and County leaders are supporting the CaliforniaFIRST plan, which would allow home and business owners to install solar panels and have the loan payments added to their property taxes. The program appeals to home and business owners who might have difficulty qualifying for a traditional loan. Owners would pay back the loans over a period of up to 20 years. The loan remains with the building and is paid through property taxes, even if the owner decides to move.
In addition to cutting greenhouse gas emissions and energy costs, supporters also say the plan would provide a much-needed boost to Santa Cruz's construction companies.