Revolving Loans for
Milwaukee is First to Offer Innovative Solar Power Revolving Loans
The Common Council’s Community and Economic Development committee unanimously approved an ordinance that allows the City of Milwaukee to create the state’s first property assessed solar power revolving loan program to make solar power a more attractive option for homeowners. The ordinance was approved by the Common Council on March 2.
Alderman Witkowski, a co-sponsor of the ordinance, says promoting solar power is beneficial for environmental reasons as well as job creation. “Homeowners are looking for green solutions, and the City of Milwaukee can only stand to benefit by exploring alternatives like the solar power loan program.”
“This loan program will reduce the up-front costs impediment, and for as little as a few hundred dollars, a homeowner could create energy efficiency in their home and begin saving money immediately,” Alderman Witkowski said.
Homeowners who take advantage of the loan program would have 15 years to repay the installation costs; money they can easily earn in energy savings, Alderman Witkowski said. Residents who would like to learn more about the property assessed solar loan program can click the following links to read its key points, read the manual, or read the text of the ordinance. For more information about how the City of Milwaukee supports solar energy, click on www.MilwaukeeShines.com.