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San Francisco Launching Largest Green Loan Program in U.S.
Good news for San Francisco-based property owners: the city has officially announced that GreenFinanceSF, the country’s largest green loan program, will launch on April 12. The program allows property owners to fund environmental improvements — think low-flow toilets, solar water heaters, solar panels, and double-paned windows — by attaching the bill to the property and allowing residents to pay it back over time on the property tax bill.
The advantages to the program are twofold: residents don’t have to pay for green improvements upfront, and they don’t have to continue paying for, say, solar panels if they move. Since the loans stay with the property, whoever owns the building continues to pay for improvements.
San Francico’s list of eligible projects is extensive, to say the least. Potential upgrades include geothermal heating pumps, solar panels, low-flow showerheads, greywater irrigation systems, green roofs, air filtration systems, and more. The full list is available here (PDF).
Still have questions? Mayor Gavin Newsom is hosting an Internet town hall on April 12. Otherwise, start thinking about your next green home improvement!
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