Solar Financing | Green Energy News

September 8, 2002 – Vol.7 No.24

SOLAR FINANCING.

Whether or not you buy a solar system for your home or business may be determined as much by your accountant as the technology available.

The net cost of electricity from a solar system is really the cost of the system itself (the energy needed to operate the system - sunlight - is free of course) and its ability to produce electricity (its efficiency and available sunlight.) That cost also includes the cost of financing the system (interest paid), applicable government incentives that can reduce system cost along with insurance and maintenance. Those costs can be compared with the cost of electricity NOT bought from the grid or other source over the lifetime of a system.

The net cost of the system can help determine whether or not a solar system is a viable electricity alternative. (Other factors such as environmental concerns can also sway a decision in favor of a solar system, especially if the accountant’s buy-or-don’t-buy figures are borderline.)

GenSelf Corporation is offering solar system packages to residents and businesses in Southern California that, according to the company, can offer net electric costs lower than those charged by electric utilities operating in that market. The company offers a program where a system that could provide 20 - 80 percent of electric needs could be paid for with a second mortgage, with the system cost reduced by solar power incentives offered in that state. The second-mortgage is paid for by savings in monthly electric bills.

The company plans to offer programs in the rest of the state and eventually to all of the U.S. Review the entire website and links for the full scope of the GenSelf program to see if it fits your pocketbook at http://www.genself.com/