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Loan Payday

Posted by Clark Williams-Derry
California's innovative energy efficiency loans are a model worth copying.

Loan Star - Trevor Blake FlickrA request:  if a) have anything to do with city or county government, and b) have any interest in, or authority over, property taxes, finance, or energy efficiency, please drop whatever you're doing for 2 minutes, and skim this article.

Oh, all right, I bet you didn't actually hit the link.  So to make your job easier, I'll pull a quote or two.

California [just] enacted a law that allows cities and counties to make low-interest loans to homeowners and businesses to install solar panels, high-efficiency air conditioners and other energy-saving improvements.

Participants can pay back the loans over decades through property taxes. And if a property owner sells his home or business, the loan balance is transferred to the next owner, along with the improvements. [Emphasis added.]

I don't think that I emphasize this enough, so I'll use capital letters: THIS IS TRULY GROUNDBREAKING.  In fact, it may well be among the top three climate policies ever adopted by the state.  I hope that other states follow suit soon -- even if it means fixing the state constitution.  (Cough*Washington*cough).

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