Love the idea of solar panels but hate the idea of emptying your bank account to pay for them?
A new program approved this month by the Broward County Commission would allow residential and commercial property owners to install energy-saving improvements such as solar panels, insulation or high-efficiency air conditioners and pay for them over years with a temporary increase in their property tax bill.
But the program may not work for many homeowners because of restrictions on the practice by some mortgage holders, and it could make it more difficult in some circumstances to sell your house.
Known as a Property Assessed Clean Energy Program, these have been approved in more than 30 states to allow property owners an easier way to install expensive but money-saving improvements. The program would use no taxpayer money, relying on private companies to provide the financing, with the county’s role being primarily to collect the money. Read more.