Fiscal Note
Funding for this initiative is included in the 2014 Capital Budget of Facilities Management under Project 14 “Implement Sustainability Plan”. Funds are available in account CB53-57700-810778.
Title
Authorizing the Facilities and Sustainability Manger to prepare and release a competitive Request for Proposals (RFP) for financial services for a residential solar loan and to recommend a cooperative agreement for City Council approval.
Body
Whereas, the City of Madison has been a Solar America City and committed to promoting solar technology adoption at the local level since 2007
Whereas, the City of Madison has been an active participate in the Grow Solar Wisconsin coalition,
Whereas, the Grow Solar Wisconsin’s mission is to make solar cost competitive with other forms of energy by the end of the decade
Whereas, the City of Madison has adopted a goal to achieve a 80% carbon emissions reduction by 2050 according to the Madison Sustainability Plan
Whereas, the further adoption of solar energy enhances the City of Madison’s commitment to reducing greenhouse gases
Whereas, a solar loan product available to residents of Madison through a private financial institution with the assistant of a loan loss reserve fund would further reduce the financial barrier to solar adoption
Whereas, the City of Milwaukee developed and implemented a solar loan product funded by the a loan loss reserve in partnership with a private financial institution
Whereas, the City of Milwaukee private financial partner has provided up to thirty solar loans thus far
Whereas, the City of Milwaukee, another active participate in Grow Solar Wisconsin, is willing to share and provide previously developed resources and templates for program implementation
Whereas, the Sustainable Madison Committee has passed and recommends the City of Madison implement a solar loan reserve fund in an amount not to exceed $80,000 from the appropriated funding for the “Madison Megawatt - Solar Energy Ge...
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