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A.D.B. extends $100 million loan for India’s solar power projects

A.D.B. extends $100 million loan for India’s solar power projects

The Asian Development Bank is extending loans of up to $100 million to aid in pr...

Nebraska Supreme Court, House of Representatives supporting proposed Keystone pipeline route

Nebraska Supreme Court, House of Representatives supporting proposed Keystone pipeline route

Despite misgivings from the public and the White House, proponents of the Keysto...

Obama will not sign Keystone Pipeline bill

Obama will not sign Keystone Pipeline bill

President Barack Obama will not sign the Keystone Pipeline bill, saying that it ...

Senvion completes offshore wind farm over Christmas

Senvion completes offshore wind farm over Christmas

Senvion completed the installation of wind turbines for the Nordsee Ost offshore...

Vestas to supply wind turbines in Greece and Chile

Vestas to supply wind turbines in Greece and Chile

Danish wind turbine manufacturer Vestas ended 2014 with two supply contracts: on...

U.N. chief hails results of C.O.P. 20

U.N. chief hails results of C.O.P. 20

United Nations Secretary-General Ban Ki-moon hailed the results of the recently ...

Manufacturer’s perspective on the new U.S. emissions reduction target

Manufacturer’s perspective on the new U.S. emissions reduction target

The United States manufacturing sector may be opting for a more diversified way ...

Business

Technology

Advantage of green cloud computing

Advantage of green cloud computing

Tuesday, 13 January 2015

Green computing is the usage of computing resources in an energy- and resource-efficient manner. Part of it is using computers that have been Energy S...

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Politics

Living Green

Eco -friendly Flooring

Eco -friendly Flooring

Friday, 30 January 2015

The term eco – friendly is usually associated with high prices, dull and boring materials and lack of variety. Luckily, the reality is completely diff...

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Renewables

Hereford Wind Project in Texas begins commercial operations

Hereford Wind Project in Texas begins commercial operations

Wednesday, 28 January 2015

The 200-megawatt Hereford Wind Project in Texas has achieved commercial operation. EDF Renewable Energy, which purchased shares of the project in 2013...

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Low-Carbon

Seven eco-friendly home heating solutions

Seven eco-friendly home heating solutions

Friday, 12 December 2014

Environmentally friendly home heating solutions are valuable for the planet, and can lower your utility bills. With the numerous home heating alternat...

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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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