Sonoma County Municipal Solar Financing

September 21st, 2009 by Rebecca Geller

Sonoma County at this point has the largest municipal financing program for solar and energy efficiency, modeled after the Berkeley First program, but run by the city themselves instead of a program administrator. The program allocated $100M and they’ve burned through about $20M of it in a very short period of time, since this is peoples’ favorite flavor of financing for solar.

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It’s called the Sonoma County Energy Independence Program. They way this works is, you get a quote for a solar system or energy efficiency, and then you apply for their financing. You can get it over 5, 10, or 20 year periods, and the interest rate is 7% (or better, depending on the bond deals they get). You then pay it through your property taxes.

Why people love property tax solar financing:

There’s a couple reasons why homeowners love getting solar and energy efficiency through this municipal financing program:

First, it’s elegant if you decide to sell your home. The solar system goes with the home as does the tax bill… easy peasy.

Second, some people like to use it as a way to take cash out of their home. If they finance, say, a $20K solar system, at the end of the year when they claim their 30% federal tax credit for solar, they get $6K in cash. It’s almost like an equity line.

Third, it doesn’t require a credit check. If you can prove you own the home and your title is clean, there’s very few hurdles after that.

One thing that’s cool is that with our new solar panel discount program in Sonoma County with 1BOG, you can get an online estimate for solar, and then use that solar estimate to apply for the SCEIP solar financing program, with no one ever coming to your home.

How to sign up for 1bog’s Sonoma County Solar Campaign:

Sign up!
We get in touch with you to answer your questions and help you decide if solar is right for your home.
If you’re ready to move forward, schedule and receive a free home evaluation from the solar installer.
Get a proposal under the 1BOG Discount!

(You can always contact Cameron, the Sonoma County Campaign Specialist, cameron@1bog.org or 707-703-1330.)

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Tags: 1 block off the grid, 1BOG, community buying power, Municipal Solar Financing, Sonoma County, Virgance

About the Author

Rebecca Geller

BigVolt

If 1BOG is getting 10 to 15% percent of list, that’s a great deal for them and a poor deal for the solar installer.

Gross Margins for a residential solar install are typically in the high teens to low twenties. The residential solar business is – as I like to call it – a low margin, low volume business.

How adding a middleman to this equation reduces the cost for a system is to me . . . suspect.

1BLOG positions itself as a feel good .org company, but they are a for profit enterprise. So do your solar research, get three quotes and then make an informed decision.

Or better yet, start your own neighborhood solar drive; Anyone can approach a solar installation company with a community proposal. These types of grass root efforts have been done in Portola Valley (the first such community program in CA), Mt. View and Downtown San Jose to name a few.

Granted it’s going to be some work, but you’ll save the middleman’s 10 to 15% take.
BigVolt

If 1BOG is getting 10 to 15% percent of list, that’s a great deal for them and a poor deal for the solar installer.

Gross Margins for a residential solar install are typically in the high teens to low twenties. The residential solar business is – as I like to call it – a low margin, low volume business.

How adding a middleman to this equation reduces the cost for a system is to me . . . suspect.

1BLOG positions itself as a feel good .org company, but they are a for profit enterprise. So do your solar research, get three quotes and then make an informed decision.

Or better yet, start your own neighborhood solar drive; Anyone can approach a solar installation company with a community proposal. These types of grass root efforts have been done in Portola Valley (the first such community program in CA), Mt. View and Downtown San Jose to name a few.

Granted it’s going to be some work, but you’ll save the middleman’s 10 to 15% take.
russ

What I have read is 10 to 15% of list is what 1BOG manages to get. That is cheaper than paying and maintaining a salesman so it is great for the solar companies. Hucksters come in all colors!

In my opinion it is a lousy discount compared to what they should be able to get for a more or less ‘bulk purchase’.

The point of – SHOP AROUND – is very valid.
russ

What I have read is 10 to 15% of list is what 1BOG manages to get. That is cheaper than paying and maintaining a salesman so it is great for the solar companies. Hucksters come in all colors!

In my opinion it is a lousy discount compared to what they should be able to get for a more or less ‘bulk purchase’.

The point of – SHOP AROUND – is very valid.