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Green Energy Financing Programs for Solar



If you are a homeowner and are looking to get your home greener, you should be very interested in what is going on right now.

Currently, over 20 states have decided to pass legislation which would move forward with Property Assessed Clean Energy(PACE).  Even the federal government is behind this program in a major way.  And the idea is a good one.  Here it is:

Local towns and cities would begin to issue municipal bonds, and the proceeds would be divided up as loans to homeowners to acquire clean re-newable energy systems like solar systems.  The homeowner would end up paying off the loans via a special property tax assesment over time.  Not a bad idea right?  I think it’s great, and thousands of homeowners all over the country agree.

But, as you would expect there is always something in the way of a great idea.  This time it’s another usual suspect.  The lending companies and mortgage brokers of America.  That’s right, those guys who put our country into total financial troubles in the not too distant past.  The mortgage companies are worried that when a home which has one of these governement loans gets forclosed, they government loan will get paid off before the homeloan, potentially causing the private lenders to lose out on some more money.

In recent weeks, the issues surrounding these programs have come to the attention of the yet another federal department, the Federal Housing Finance Agency, and this group of course is taking the side of the lenders.  So, who knows, it looks like unless someone starts to think more about the earth another good financing idea for solar power might hit some more roadblocks.  I just wonder how the large banks are going to feel when there is no more oil on the planet to fly their private jets around the globe each day.  How will they feel about that?

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