byPAUL ESCOBEDO

San Diego new homes or Riverside new homes. We have the most comprehensive list of California home builders you will find.”>Several major cities across the nation have adopted programs that allow homeowners and businesses to receive financial assistance to “go green”. The program will allow individuals to pay back up front costs for green items like; solar panels and other environmentally friendly additions over time as special assessments on their property taxes.

The slow rush to transform homes and businesses has been attributed to the steep financial burden that most of this new technology requires. Many Americans are struggling just to stay in their homes; it is no wonder that necessity has trumped environmentally friendly upgrades.

Boulder County, Colorado is a country that is leading the way. The country creates a district to issue bonds to raise capital to lend to property owners. The county then attaches a special assessment to the property taxes that is paid over 20 years. If the property is sold during the repayment period the payments are passed along to the new owner for the remainder of the 20 years. Currently Boulder County has raised $10 million dollars to lend to 612 property owners and in Berkeley, California they have launched similar programs in 2008 as part of the pilot program.

With the economy beginning to show minuscule improvements it would be tough for most Americans to come out of packet for eco-improvements on their properties. Most lending institutions have yet to un-freeze its loan approvals. This program and others like it are making it possible for homeowners to reduce their carbon footprints. There are additional advantages to making eco-upgrades. In many states there are rebates that are offered to homeowners in the form of tax deductions and tax rebates. The benefits come over the long haul as well. Installing these eco-friendly improvements will reduce a property owner’s monthly electric bill and over time the saving will more than pay for the initial costs.

Currently there are 16 states that have adopted the PACE (Property Assessed Clean Energy) program and another 10 are working on programs similar in content. As in any loan there is a debate over what interest rates should be for the loans. Most of the participating counties have chosen to offer loans that are 6% or below. In California some interest rates have reached 7%. Many of the founders of the idea believe that these rates are verging on the high side. At this time there is no regulation stipulating what each county can charge, but is the hope of many of the program creators that the rate will settle below 5.5%.

We are a great resource whether you are looking for San Diego new homes or Riverside new homes. We have the most comprehensive list of California home builders you will find.

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