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Wed08272014

Vestas, EP Global Energy partner for donor-funded wind farm in Jordan

Vestas, EP Global Energy partner for donor-funded wind farm in Jordan

Wind turbine manufacturer Vestas and private energy asset developer EP Global En...

World Bank commits $5 billion for African renewable energy projects

World Bank commits $5 billion for African renewable energy projects

The World Bank Group has committed US$5 billion towards supporting energy projec...

Seven creative ways to teach your kids about eco-living

Seven creative ways to teach your kids about eco-living

According to Bureau of Labor Statistics, 3.1 million jobs in the United States w...

$50 million A.D.B. loan to develop Indonesia’s geothermal potential

$50 million A.D.B. loan to develop Indonesia’s geothermal potential

The Asian Development Bank will provide Indonesia a loan of up to $50 million to...

Iberdrola completes its first three renewable energy projects in South Africa

Iberdrola completes its first three renewable energy projects in South Africa

Iberdrola has completed two wind farms and a photovoltaic power plant in South A...

Former Irish president appointed as special envoy for climate change

Former Irish president appointed as special envoy for climate change

Former Irish President Mary Robinson has been appointed by United Nations Secret...

The truth about the forthcoming endangered cities

The truth about the forthcoming endangered cities

Gone are the days when the term ‘endangered’ was being cascaded to animals or di...

Technology

Water “dirtying” the biofuel production process

Water “dirtying” the biofuel production process

Friday, 22 August 2014

Water is well known as a cleansing agent but – when it comes to biofuel production – too much water is dirtying up the process. Researchers from the U...

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Politics

Living Green

Nature's Herbicides: How to kill weeds without poisons

Nature's Herbicides: How to kill weeds without poisons

Thursday, 21 August 2014

No matter how much time and care you put into your lawn and garden, you're going to have to deal with weeds at some point. Because they're often tough...

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Renewables

Low-Carbon

Opinion

Unsustainable urban life: What's next?

Unsustainable urban life: What's next?

Wednesday, 11 June 2014

Nutrition plays a critical role in everyone’s chance at a better future. Hunger, said Benjamin Franklin once, is the best pickle. Some say “pickle”...

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SunWize solar financing upfront costs-free


The idea, based on the SunWize’s statement, is for residential solar energy systems to be provided with sufficient time to be eligible for the 30% federal tax credit. Photo Courtesy of SunWize Technologies, Inc.

A solar power installer for California and Oregon said its new financing program for customers does away with one of the biggest barriers to solar energy adoption—system upfront cost.

In a press release, SunWize Residential Power Systems said its program is designed to make residential solar power installers benefit from a 30% federal tax credit for residential solar energy systems.

In SunWize’s program, homeowners can get a same-as-cash loan of up to $45,000 with no collateral. There will also be no principal payments or interest for up to 12 months.

The idea, based on the SunWize’s statement, is for residential solar energy systems to be provided with sufficient time to be eligible for the 30% federal tax credit.

The Energy Improvement and Extension Act of 2008, which is part of the US’s $700-billion economic stimulus program when its finance sector broke in September last year, entitles buyers of residential solar electric systems to a tax credit of up to 30% of the net installation cost.

But homeowners, SunWize said, will not realize the tax savings until 2010 when they file their 2009 taxes.

“SunWize customers who participate in the residential solar financing program have up to 12 months without payments or interest accruing, during which they can realize the tax credit and apply it toward the loan,” SunWize stated.

SunWize is a subsidiary of the US branch of Japanese Conglomerate Mitsui & Co., Ltd., one of the world’s largest trading companies, and is currently the premier installation division of SunWize Technologies, Inc. It was founded in 1992.


- Eric Dorente


Source:

1 http://www.sunwize.com/news/solar-news-financing.php

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