Though Cash for Clunkers may be zooming along, local initiatives to promote green energy alternatives are hitting a standstill because of cost.
Though Cash for Clunkers may be zooming along, local initiatives to promote green energy alternatives are hitting a standstill because of cost. The latest victim is Solar Santa Cruz, a countywide project aimed at assisting homeowners in installing solar panels in their residences. The original program planned to cover the cost through loans to participants, but now even the startup costs for the project are being questioned by county officials. While passing these initial costs on to the participants has been considered, officials suggest that this would raise borrowing costs to as much as 10 percent on the original $25,000 loan. The county’s Commission on the Environment is now investigating the possibility of obtaining a federal grant to get the project running. Read more at the Santa Cruz Sentinel.
