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North Caucasus hydropower to increase with three new projects from RusHydro

North Caucasus hydropower to increase with three new projects from RusHydro

Three small hydropower plants developed by RusHydroare set to begin construction...

Discrediting advertisements on carbon pollution standards outrages organizations

Discrediting advertisements on carbon pollution standards outrages organizations

The Natural Resources Defense Council, and more than two dozen organizations, is...

Supercritical steam for super productive solar thermal plants

Supercritical steam for super productive solar thermal plants

By using supercritical steam, solar thermal power plants could produce enough en...

Nepal gets first wind-solar hybrid system

Nepal gets first wind-solar hybrid system

The Asian Development Bank has handed over the country’s very first wind-solar h...

Unsustainable urban life: What's next?

Unsustainable urban life: What's next?

Nutrition plays a critical role in everyone’s chance at a better future. Hunger...

Chile’s largest solar power project officially open

Chile’s largest solar power project officially open

The 100 megawatt Amanercer Solar CAP Power plant in Chile has been officially op...

Five gigantic things happening in sustainability

Five gigantic things happening in sustainability

Understanding this mainly becoming typical ‘S’ word has always been part of the ...

Business

Ascent Solar announces milestone agreement for their J.V. in China

Ascent Solar announces milestone agreement for their J.V. in China

Thursday, 03 July 2014

Thin-film solar module manufacturer Ascent Solar Technologies, Inc. has announced the achievement of a significant milestone for their joint venture i...

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Technology

Politics

Living Green

Elemooni: Eco-friendliness for kids

Elemooni: Eco-friendliness for kids

Tuesday, 08 July 2014

A new group of nano explorers could change the way children learn about positive values, the environment, and believe it or not, the periodic table of...

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Renewables

Senvion installs its first turbines in Nordsee Ost offshore wind farm

Senvion installs its first turbines in Nordsee Ost offshore wind farm

Tuesday, 08 July 2014

Suzlon Group’s wholly owned subsidiary Senvion SE has installed the first turbines for the offshore wind farm Nordsee Ost in Germany. The Nordsee Ost ...

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Low-Carbon

World Bank to help Kosovo, Kazakhstan become more energy efficient

World Bank to help Kosovo, Kazakhstan become more energy efficient

Thursday, 19 June 2014

The World Bank has approved a $31 million-project for Kosovo and a $21.7 million-grant for Kazakhstan that will both be increasing the countries’ ener...

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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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