Summer solstice an occasion to promote solar power for homes

Summer solstice 2010 could be a turning point for the solar energy industry as well as a seasonal transition. A California utility holding company chose the summer solstice, when the sun shines longer than any other day, to announce a $ 100 million fund to finance solar power systems for the home. Clean energy companies are also using the summer solstice to draw attention to public opinion about solar power as it relates to energy legislation currently being debated in Congress.

Article Resource: Clean energy firms choose summer solstice to promote solar power by Personal Money Store

Summer solstice fuels solar energy

PG & E Corporation’s summer solstice announcement of a $ 100 million tax-equity fund to finance solar power systems for homes is the largest solar leasing pool yet created, the company said. PG & E’s summer solstice announcement, The New York Times reports, signals that clean energy financing is an emerging trend. PG & E preceded its summer solstice announcement in January when it established a $ 60 million tax-equity vehicle for SolarCity, a company in the Silicon Valley that also provides solar energy systems on lease to homeowners. And in May, President Obama chose to deliver an address promoting the climate and energy bill at Solyndra, a clean energy company in northern California.

Lease solar panels for your home

Solar energy systems financed by the $ 100 million dollar fund will be installed in up to 3,500 homes in Arizona, Colorado, Massachusetts and New Jersey. The program essentially provides free solar panels for your home. Homeowners don’t pay for the solar energy systems, which can cost more than $ 30,000. Instead they sign a deal to buy power from SunRun at a fixed rate for up to18 years. SunRun, in return, installs, owns and takes care of the solar arrays.

Growing public acceptance of solar energy

The summer solstice was also appropriate for the clean energy company Applied Materiasl to publish a survey on solar power attitudes. It found that two-thirds of American’s say solar power needs to be used more for U.S. energy needs. MarketWatch reports that according to the survey, three-quarters of Americans feel that increasing renewable energy and decreasing U.S. dependence on foreign oil are the country's top energy priorities. Other findings from the survey’s sample of 1,000 people include that 67 percent would pay more for power if their utility used more renewable energy, and 49 percent think an extra $ 5 isn’t too much to use more renewable energy.

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