DWP Solar Finance Would Increase Solar and Create Jobs in California

The Los Angeles Business Council promises excellent jobs and 600 MW of electricity if the city can institute a solar finance program. The proposed solar finance program would be funded by the Department of Water and Power. It would allow Los Angeles to create 3% of its electricity from the sun and attract solar companies to the area to create jobs.

The program, which has been implemented in Florida and Germany, is already a success. It will encourage business owners and homeowners to install solar on their homes and commercial buildings.

All excess electricity generated can be sold back to the utility company at a set rate for the next 20 years.

Solar has already created 4,300 local jobs, but investment by the city of Los Angeles through solar financing would further propel the solar industry.

Solar Financing

Using solar financing, homeowners have the option of switching to photovoltaic solar power without the necessary large up-front investments. Recently, General Motors used a solar financing model known as a solar lease to pay for a solar installation on top of a warehouse.

Here's how solar leasing works:

- Solar contractor and customer agree on a solar installation

- The customer contracts to buy solar from the installer at a competitive rate

- Steady income stream to the installer make it possible to finance the project

This solar leasing model of solar financing has benefits for both parties.

Customers can switch to solar at competitive rates.

Eliminates up-front investment of customer.

Protects customers from future rate-hikes by utility companies

Businesses get more business.

Businesses save money by negotiating for tax incentives.

Solar Finance

Learn more about solar finance at Rich Hessler Solar. We offer financing through a variety number of brokers. Coming soon: Determine if your solar clients are pre-qualified for solar financing instantly!