Nixon Peabody
Bank of America
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Novel plan may speed green building

By   /   Monday, April 12th, 2010  /   Comments Off on Novel plan may speed green building

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A new way of financing energy efficiency upgrades in buildings is gathering steam across Santa Barbara County and headed for a vote by supervisors on April 13.

Called emPowerSBC, the program allows property owners to borrow money from a funding pool set up by the county, install upgrades such as solar and pay off the loan through their property tax assessments.

Assessment-based financing of property improvements is a new concept that gained traction under California’s AB811, which allows local governments to fund energy efficiency projects.

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