February 22, 2010
By Julie Schmit
Putting solar or other green upgrades on homes and businesses is getting less painful in more cities that are rapidly launching programs to enable owners to pay back upfront costs over years.
The programs let property owners borrow money for upgrades, then pay it back over up to 20 years as a special assessment on property tax bills.
The long payback removes a hurdle to going green: big initial costs, especially for solar panels, that can take years to recoup in lower energy bills.
The idea “seems to be catching on like wildfire,” says Ann Livingston of Boulder County, Colo., which started its program last year.
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