Posted at: 07/10/2009 1:19 PM
By: HEATHER CLARK, Associated Press Writer
Print Story
Albuquerque proposes solar program
ALBUQUERQUE, N.M. (AP) - Home and business owners in Albuquerque could afford to install solar energy panels under a proposed $5 million city loan program.
Albuquerque Mayor Martin Chavez said Friday the plan would make solar panels affordable through a combination of federal and state tax credits and short- and long-term loans to property owners.
He hopes the financial system will allow solar energy to be used in up to 500 homes within a year.
Chavez says energy savings would enable homeowners to repay the loans.
If the City Council approves the plan, Chavez says Albuquerque would become the fourth U.S. city to have such a system, after Berkeley and Palm Desert in California and Boulder, Colo.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
