Federal 30% and Georgia 35% rebates add up to 65% (see below under DSIRE). That’s for solar (PV or hot water), wind, and some other related items.
The other 35% is what stops most businesses and people. 35% of a $25,000 house solar system is still $8,750. People like that it will pay itself off in 9-15 years, but most people don’t have $8,750 to invest.
That’s a business opportunity for some enterprising local bank or banks. As Dr. Noll has explained, if you pay for that remainder yourself, the system will pay itself off in about 9 years. If you get a bank to finance it, more like 15 years. And local banks currently require collateral other than the system itself (they like real estate as collateral). The simplest business opportunity is for a local bank to accept the solar equipment itself as collateral. After all, it’s worth 65/35 or 185% of the total loan amount.
The Georgia Solar Energy Association (GSEA) can probably tell you more.
Other ways to finance renewable energy projects include: Continue reading