Barriers to Clean Energy Financing Could Fall with EPA PlanThe Energy Collective, November 7, 2014
Considering installing solar panels or weatherization to go along with the remodeling project you’ve been thinking about? Energy bills would drop and your carbon footprint would shrink, a true win-win.
Whether it’s financially doable may depend on where you live, of course. Clean energy financing in the United States is a hodgepodge of public and private-sector programs that vary considerably across, and within, state boundaries.
What will it take?
Connecticut homeowners in some – but not all – cities can tap into the state’s Smart-E loans available from five- to 12-year terms at an interest rate that won’t exceed 6.99 percent, and with no equity down.
In sunny Arizona, you can take advantage of SolarCity’s new loan program to finance your solar panels, also with no down payment. But not so in neighboring New Mexico, because the company’s loans are only available in eight states for now.
And then there’s Florida, a state where powerful utilities are pushing regulators to undo energy-efficiency targets and where policies, to this day, prevent so-called third-party power providers to enter the market. Result: The Sunshine State has virtually no solar energy – or other clean power for that matter. As for financing, it’s a moot point.