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Sat12202014

Boeing successfully completes test flight with green diesel

Boeing successfully completes test flight with green diesel

Boeing has completed the world’s first flight using green diesel. On December 3,...

U.N.F.C.C.C. head urges climate action as Lima Conference begins

U.N.F.C.C.C. head urges climate action as Lima Conference begins

United Nations Framework Convention on Climate Change Executive Secretary Christ...

Philippines houses world’s largest solar-powered mall

Philippines houses world’s largest solar-powered mall

A mall in the capital city of the Philippines is now sporting a 1.5-megawatt sol...

U.S., China announce significant emissions reduction cuts

U.S., China announce significant emissions reduction cuts

The Governments of the United States and China have announced that they will be ...

Best Eco Cars of 2014

Best Eco Cars of 2014

Eco-friendly cars, also referred to as green cars, are vehicles that have a less...

Largest wind farm in Southeast Asia goes online in the Philippines

Largest wind farm in Southeast Asia goes online in the Philippines

The largest wind farm in Southeast Asia, a 150-megawatt installation in the Phil...

SPI Solar to acquire 360 MW worth of solar power projects in China

SPI Solar to acquire 360 MW worth of solar power projects in China

Solar Power, Inc. is set to become one of the largest solar developers in China....

Business

tenKsolar expands manufacturing capacity in Thailand

tenKsolar expands manufacturing capacity in Thailand

Friday, 19 December 2014

tenKsolar is establishing new production lines in Thailand for their manufacture of their solar modules. tenKsolar, which is based in Minneapolis, des...

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Technology

Bacteria producing sweet-smelling compound for greener fuels

Bacteria producing sweet-smelling compound for greener fuels

Tuesday, 02 December 2014

A sweet-smelling chemical compound primarily used in fragrances and flavoring is being studied for its potential as a clean and green biofuel. Methyl ...

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Politics

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

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

Wednesday, 17 December 2014

United Nations Secretary-General Ban Ki-moon hailed the results of the recently concluded Conference of the Parties in Lima, Peru. The Secretary-Gener...

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Living Green

Incandescent bulbs now entering their homestretch

Incandescent bulbs now entering their homestretch

Saturday, 06 December 2014

Nearly 125 years after the invention of the light bulb – technology that revolutionized the world’s way of life and living – the phased ban on sale of...

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Renewables

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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