Fiscal Note
Budget authority for the $80,000 loan loss reserve is available in Account 10773-401-200 as part of the Sustainability Improvements capital project.
Title
Accepting the Terms & Conditions of an Agreement between City of Madison and Summit Credit Union to Establish a Solar Loan Program.
Body
WHEREAS, the City of Madison has, since 2007, been a Solar America City and is committed to promoting solar technology adoption at the local level; and
WHEREAS, the City of Madison has been an active participant in the Grow Solar Wisconsin coalition; and
WHEREAS, Grow Solar Wisconsin's mission is to make solar cost-competitive with other forms of energy by the end of the decade; and
WHEREAS, a favorable combination of Focus on Energy renewable energy incentives, a 30% federal investment tax credit, declining system installation costs, and rising customer demand will ensure a strong market for distributed solar generation through 2016 and beyond; and
WHEREAS, the City of Madison's Sustainability Plan contains a goal to achieve a 80% carbon emissions reduction by 2050; and
WHEREAS, the continued expansion of solar generation will enable the City of Madison to reduce its greenhouse gas emissions; and
WHEREAS, the City of Madison's solar program, MadiSUN, has helped hundreds of businesses and thousands of residents learn more about solar energy; and
WHEREAS, hundreds of residents and business have received free solar site assessments from MadiSUN to determine the potential and estimated cost of on-site solar energy; and
WHEREAS, MadiSUN has organized and offered residential solar group buying programs to spur on-site solar use across city neighborhoods well as drive down installation costs; and
WHEREAS, 35 homeowners have participated in prior MadiSUN's solar group buying programs, collectively installing more than 127 kilowatts of solar photovoltaic capacity on their residences; and
WHEREAS, the offer of additional residential solar group buying prog...
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