County homeowners stand to benefit from a new state program that will help them become energy efficient, and even install costly solar panels to reduce energy costs. The new program, CaliforniaFIRST, signed onto by the Board of Supervisors, enables property owners to finance such improvement to their homes through their property taxes. State funds would be used to pay for home improvements, including solar panels, insulated doors and windows, and even energy efficient appliances up to the amount of $70,000. The money would be a loan, paid back as part of property taxes over a 20-30 year period at a rate of 7.5-9.5 percent. According to the proposal, the loan remains with the home, even if it is sold.
Financing for the program is expected to come from federal stimulus funding. Read more at Santa Cruz Sentinel.
