Solar Phoenix Finance Program Launched

Phoenix Mayor Phil Gordon this week, kicked off Solar Phoenix, one of the nation’s largest city-sponsored residential solar financing programs. The program, a collaboration among the city of Phoenix, APS (Arizona Public Service), National Bank of Arizona and SolarCity, is expected to allow up to 1,000 Phoenix homeowners to adopt solar power by the end of 2010.

As part of Gordon’s 17-point Green Phoenix plan, the Mayor will join program organizers to announce Solar Phoenix today at the historic Esser Property in the heart of the city’s Roosevelt Row. The house’s recently completed solar installation is representative of those that will be undertaken as part of Solar Phoenix.

Solar Phoenix is made possible by US $25 million in financing from National Bank of Arizona, and includes options for low and moderate-income homeowners in Phoenix. The program allows qualifying Phoenix homeowners to install solar systems with no upfront investment and a small monthly payment that is lower than their previous electricity bills.

The program also incorporates incentives from APS’s Solar and Renewable Energy Incentive Program, which is approved by the Arizona Corporation Commission and funded by APS customers.

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