|Posted by madayerf on February 12, 2013 at 8:50 PM|
If you didnt have a chance to hear the webinar from Ontario Sustainable Energy Association about Municipal Financing check out their whitepages on the presentation. In short it was a look at Halifax's Solar City program that allowed for Local Improvement Charges to be used to finance solar thermal systems. In the same way the LIC's are used for neighborhoods to pay for local upgrades like road/sidewalk improvements, homeowners could access municipal financing to pay for their solar thermal systems and pay for them through property taxes. This way the financing is tied to the property and could transfer to the next homeowner. Also this is not a burden on the general tax payer, as only those who benefit pay for it.
Local Improvement Charges (LICs) were originally established as a means for capital development for the benefit of multiple properties, with the cost being amortized between those properties over time. Amendments put forth in late 2012 by then Minister of Municipal Affairs, Kathleen Wynne, (Ontario's new premier) allow one property the ability to undertake a capital investment alone - the responsibility for repaying the municipality then falls on the single property owner. With these amendments, the term "capital investments" has been broadened to now include energy efficient and renewable energy projects, the groundbreaking reason why this can be wildly successful. (1)