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Affordable solar purchasing plans gather paceA solar panel financing plan launched in San Diego is attracting interestfrom across the US.Municipalities are catching on to an innovative plan started by the City of San Diego to make solar panels more affordable to city residents, with anumber of city governments expressing interest in the new financingscheme.The San Diego Clean Generation Program, announced in December, will bethe first of its kind in any major US city, according to San Diego's Mayor,Jerry Sanders. Under the scheme, the city will pay for residential solar  panels, which householders and businesses will then pay for over timethrough their property taxes.The up-front capital cost of installing solar panels can total around $25,000after installation fees, material costs and inverter equipment is paid for. Thisscheme gives residents the chance to pay for it over 20 years, according tothe Mayor, who added that because the panels are tied to the property, thecost would pass to the new owner if a house with installed panels was sold.Payment under the San Diego programme would amount to roughly $150 ayear on top of the existing property tax bill - a fee advocates of the schemeclaim will be largely offset by savings on utility bills.The scheme will not come into effect until July 1, but counties in Santa Fe, New Mexico are already considering rolling out the initiative, after theintroduction of a bill by State Representative Brian Egolf.The San Diego scheme will be conducted in partnership with a financing partner who will sell the loans as taxable bonds. It was made possible byAssembly Bill 811, which makes it possible for Californian municipalities tofinance residential renewable energy projects.
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