Financial Options Team Leader: Jason Liechty
Financing options used by all partnering jurisdictions will be reviewed and documented in a revision to the Go SOLAR–Broward Financial Options Best Management Practices. With input from all partners and not-for-profits dedicated to Solar, the Best Management Practices document will be revised in a Florida Solar Financing Action Plan. The team will seek formal support of, or agreement to, the plan by the State Energy Office.
Broward County Board of County Commissioners voted unanimously on October 8, 2013 to establish a commercial and residential Property Assessed Clean Energy (PACE) Program. The County received permission to engage vendors to administer the programs which will be available once Broward County enters into these agreements in about six months. PACE programs allow property owners to pay for the cost of energy improvements and wind mitigation measures to their homes or businesses through a voluntary assessment on their property tax bill. This assessment stays with the property when it is sold since the new owner continues to receive the benefit and cost savings of the improvements.
Solar photovoltaic energy offers many potential benefits including:
• Lower electricity costs for homeowners, businesses, and governments
• Creation of local jobs and economic development
• Solar energy is a completely renewable resource
• Producing energy without producing global warming pollute the way that oil or coal does
• Energy security
• Energy independence since the “fuel” for solar panels can’t be bought or monopolized
• 92 percent of Americans think it is important to develop and use solar energy
While the costs of solar panels have reached all-time lows, the up-front cost of installing solar can still be high. To assist in finding ways to finance solar, Go SOLAR Florida has created the Go SOLAR Florida Financing Action Plan: A Menu of Options. This document compiles research for best practices regarding solar financing listing a summary of findings with links to reports, documents and references.