More Affordable Way To Put Solar Panels On Your House?

As I write this, there is a bill being discussed here in Los Angeles that would make it easier for people to install solar panels on their home. The major obstacle that most people face is the price; for a medium-sized home it would cost about $20,000 for installation (before state and federal rebates), which makes them a major purchase for almost anyone. However, if this bill gets passed, the city would loan homeowners money to install the panels and spread the payments over 20 years on top of their property tax bill. Personally, I think this is a brilliant idea as homeowners would not need any money up front to put solar on their house – they can have them installed and starting saving money (and possibly making money by selling power back to the grid) right away, no up-front investment necessary. If the homeowner moves, the loan gets transferred to the new owner. It’s a win-win for everyone, really. I hope we start seeing more of these types of incentives all over the country, as natural gas and oil prices are skyrocketing. People need all the help they can get!

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Comments (5)

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  1. Will says:

    Yesterday Boston Gal’s open Wallet wrote a post about a collaborative effort in a NH neighborhood to install solar water heaters in each other’s home for a fraction of the cost, by cutting out the middleman. Read it at http://www.bostongals.com/2008/05/neighbors-gather-to-install-solar-power.html

  2. David says:

    Cool, thanks for the info Will.

  3. Tyler says:

    This is such a great idea. Even here in not-always-sunny Ohio, I think a couple of panels on my house would at least make a dent in our electric bill. Cost is always the number one factor though. Any information on how readers aroudn the country could advocate for this kind of policy?

  4. david says:

    Maybe you could read the bill, and forward it to your local city council/representatives for them to start thinking about? More info:


  5. Patrick says:

    That sounds like a great idea. I love the idea of using green energy – it’s such an exciting field to generate power (and money) from free resources. I wish it were more widely available and more economically feasible. Thankfully, it is becoming more of each as the months go by. 🙂