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Last updated 2:32PM ET
June 22, 2018
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Low cost solar could be near in Santa Fe (Listen again)
(2011-05-02)
(KSFR) -
It's been several years since the legislature passed a law allowing local governments to offer low-cost financing schemes to buy and install alternative energy systems like solar and geothermal. It would be paid for by low-cost financing and repaid to the local government through a small annual increase in property taxes over decades.

Just about the time the law took effect, the idea hit a snag in Washington. Federal housing finance officials claimed the arrangement would create a new first mortgage for government-backed mortgages that would take first priority over the regular mortgage. That put a crimp in that plan. But what about businesses?

Duncan Sill, county economic development director, says he is putting finishing touches on a pilot program for business applicants to apply for alternative-energy financing. The first steps will be outlined publicly, perhaps later this week. Among the first steps -- asking dealers and installers of systems to identify possible types of installations to finance under a pilot program.

Listen.

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