Phoenix Mayor Phil Gordon has officially launched Solar Phoenix, a collaboration among the city of Phoenix, Arizona Public Service (APS), National Bank of Arizona and SolarCity. According to the organizers, Solar Phoenix is the nation's largest city-sponsored residential solar financing program.
The program is expected to allow up to 1,000 Phoenix homeowners to adopt solar power by the end of 2010. Solar Phoenix received $25 million in financing from National Bank of Arizona, and includes options for low- and moderate-income homeowners in Phoenix. The program allows qualifying Phoenix homeowners to install solar systems with no up-front investment and a small monthly payment that is lower than their previous electricity bills.
Solar Phoenix also incorporates incentives from APS' Solar and Renewable Energy Incentive Program, which is approved by the Arizona Corporation Commission and funded by APS customers.
SOURCE: Solar Phoenix