S.F. Supervisors OK city solar incentive program

[OKIsItJustMe]

http://www.bizjournals.com/sacramento/stories/2008/06/02/daily34.html

Wednesday, June 4, 2008 - 2:19 PM PDT

S.F. Supervisors OK city solar incentive program

Sacramento Business Journal - by Lindsay Riddell San Francisco Business Times

The San Francisco Board of Supervisors on Tuesday approved an ordinance establishing a Solar Energy Incentive Program to encourage the addition of 35 megawatts of solar power in the city over the next 10 years.

The program allocates $2 to $5 million of San Francisco Public Utilities Commission funds per year over the next 10 years that residents and builders can use toward installation of solar power on their homes and office buildings.

San Francisco's program is designed to piggyback on other solar incentives available from the state and federal government.

On average, a 3 kilowatt solar system costs about $30,000, including installation. With the maximum rebates available: $6,000 through the Solar Energy Incentive Program, $2,000 from the federal Investment Tax Credit, $4,500 from the California Solar Initiative at its current incentive levels, city residents can get up to $12,500. Residents are still on the hook for $17,500 but banks including New Resource Bank are offering low-interest loan programs for installing solar.

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[ladjf]

1. A "no brainer" move. Yet, such moves are slow to spread around the country.