Feb 23, 2010

Market remains gloomy for solar panels

A small, solar electric system can run a homeowner around $26,000.HTML clipboardhttp://www.kawther.info/Imasb04.jpg
Public grants can cover about $10,000 of the construction cost, but homeowners are on the hook for the rest because banks don't lend money to build solar panels.... The city of Milwaukee is trying to break the cycle with loans to homeowners for installation of residential solar panels. Borrowers would pay off the debt through an additional fee on their property tax bills.

If approved by the Common Council and mayor, the city loan program would start with $150,000 from a federal grant and give loans of up to $20,000 per project, said Alderman Tony Zielinski, the main sponsor of the plan.

"There's a good chance a bank won't even give them a loan for this,"

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