Over the past year, the increase in solar activity in Santa Monica and throughout California has given rise to new financing mechanisms. Potential solar owners are looking at these as they look at their choices: use cash for the investment, keep their cash invested and borrow at today's low rates, lease the system, let someone else own the system on their roof, etc.

As part of its commitment to education about all things renewable, Solar Santa Monica is sponsoring a panel discussion:

Solar by the Numbers: 2008 Financing Options for Home Solar Systems

Monday, June 16, at 7 p.m.

Santa Monica Main Library, 601 Santa Monica Blvd. Multipurpose Room (2nd floor)

The panel will feature experts on different financing arrangements including solar loans and residential PPAs (Power Purchase Agreements). Our speakers:

· Gary Groff, Vice President, New Resource Bank
· Nat Kreamer, President, Sun Run
· Maurice "Mo" Rousso , Chief Executive Officer, Helio Micro Utility, Inc.

The financial products offered by New Resource Bank, Sun Run and Helio Micro Utility are not officially "approved" by the City of Santa Monica or by Solar Santa Monica. They are made available directly to participants through Preferred Providers.

If you're a homeowner considering solar, a member of the financial community, a solar manufacturer or installer, a member of the press or a real estate investor, here's your chance to compare and contrast and ask your questions of the people who know the answers!

The event is free, but because seating is limited, please call the Solar Santa Monica office to reserve your place: (310) 458-4992.

By Michele Joyce, REC Solar

This article was contributed by our Preferred Partner. It describes a Northern California PV owner who used a Sun Run Power Purchase Agreement to finance his installation. Come to our June 16 panel discussion to hear from the President of Sun Run and from representatives of other firms about their new solar financing products.

The new 8-kilowatt solar power array on David Kokka's roof doesn't belong to him -- and he likes it that way.

Instead, David Kokka has rented his roof out, so to speak, to a Silicon Valley startup called Sun Run Generation LLC. For the next 20 years, Sun Run will own and maintain the solar panels, and Kokka will buy all the electricity his family uses that's generated by the photovoltaic power system over that time -- at a steep discount to the prices he'd otherwise be paying to utility Pacific Gas & Electric Co.

"I'm getting a system that's not only maintenance free, but they're guaranteeing the output of the system and components over 20 years," he said.

But the main bonus, he said, was the low up-front cost, which has traditionally been a key barrier to wider adoption of solar systems by many homeowners.

Such power-purchase agreements are fast becoming the model of choice for large-scale commercial solar systems. But with Sun Run's entry into the residential market -- the sights of investor-owned solar power systems are now centered on American homeowners' rooftops as well. Homeowners can arrange financing to purchase their own solar system in a way that avoids tens of thousands of dollars in up-front costs, with Sun Run making sure solar panels are working to maximum efficiency and replacing any worn-out parts.

If the home is sold, Sun Run will offer to remove the system if that's what the new owner wants. Nat Kreamer, President of Sun Run (who will be at the June 16 meeting), says he expects most will choose to continue the contract or take over the system at a discounted buyout cost, since market studies show most people consider home solar systems a valuable asset. One thing is certain, electricity rates are not getting any cheaper and the world is not getting any less polluted, so clean, affordable renewable energy programs are welcome news!

Solar Santa Monica staff member Michael Ware is visible on the roof of Co-Opportunity market at Broadway and 16th. The market is looking at adding more solar on its roof.

If you think your roof has potential, contact Michael to schedule a no-cost Site Check. He'll discuss your bills, check out the roof for orientation, shading, etc., and give you a report with efficiency as well as solar recommendations.

One interesting finding for Santa Monica: some commercial operations change their Edison rates and thereby significantly improve the payback on their solar system.