County Issue 1A was adopted in Boulder County at the polls. This measure is a great opportunity for homeowners who would like to install renewable energy, but do not have the capital reserves. Homeowners will be able to obtain low interest, no-money-down financing for renewable energy, energy efficiency improvements, including solar photovoltaic systems.
The Boulder County Energy Options Local Improvement District (LID) will authorize Boulder County to increase debt by $40 million to be used for energy-efficiency projects. The loans will be repaid by the homeowner through a voluntary special assessment on the property. The plan allows for little up-front costs to the homeowner, and if the property is sold prior to the end of the 20-year repayment period, the new owner takes over repayment as part of the property tax bill.
Many details of the program must be ironed out, and other counties will be monitoring the program closely before adopting similar measures. Let’s hope Boulder County becomes the model to follow.
So this is a test balloon of sorts? Is there someplace online I can find more info about this; are there maximums or minimum specs to qualify for the assessments / loans?
I haven’t seen much lately about the program. Details on the loan process are in progress, but may not be available for a while. Also, the economic situation and instability in the bond market may delay the roll-out.
This program is a test balloon. It has been attempted in California in the past, but was not successful. Supporters say the problems with the California program have been corrected, and see no reason why it should not be successful in Boulder County.