Palm Desert, California has breathed new life into the solar business

From the City of Palm Desert:

February 2, 2010 The City of Palm Desert has announced the upcoming release of $6 million in new funding for its popular Energy Independence Program. Half of the new funds will be dedicated to loans for energy efficiency improvements with the other half reserved for loans for solar projects. The funding will be available to Palm Desert property owners who submit a completed loan application beginning Monday, February 8.

The City’s Office of Energy Management, 73-510 Fred Waring Drive, will accept applications from Palm Desert property owners on a first-come, first-served basis. Property owners can apply in person by appointment only. Applications submitted by contractors on behalf of property owners will be accepted by appointment with a limit of one application per company each day.

Applications will be reviewed by Office of Energy Management staff, with written notification of approval provided to customers when their application is officially complete. Staff will schedule appointments with customers whose applications are complete to review and discuss the loan documents and processing. If an application is deemed incomplete, notification will be sent to the property owner that they must resubmit. Resubmissions will be accepted while funds are available on a first-come, first-served basis.

The program makes these energy saving measures more affordable by allowing the City to loan money to residents and businesses at competitive interest rates without the credit checks or appraisals associated with home equity and other types of personal loans. Borrowers can repay the loans over time as part of their property taxes. If the property is sold, the improvements and the outstanding loan balance can be transferred to the new owner.

Check out the only Solar power and Energy Efficiency company owned and operated in Palm Desert, California: Renova Energy Corp.

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2 responses to “Palm Desert, California has breathed new life into the solar business”

  1. Mike Hall says :

    I continue to read of the solar program and the funding for residential properties. Is the city relying strictly on the home owners to improve the cities green profile? What has the city done to improve its power demand on all government,municipalities,schools etc? Other cities in the Coachella Valley will soon make the City of Palm Desert and its solar plan small potatoes in comparison.

  2. PEO says :

    I hope so. The more the better. The whole Coachella Valley is ripe for solar power. The financing for solar needs to be more accessible. It costs too much up front, but could be a great income engine for investors.

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