The house-owners of the Sonoma County are looking forward to add a solar energy system, get rid of the old furnace or even install an artificial turf very soon and will also have a variety of options that will fund all these improvements.
The Sonoma County is experiencing a development of government-supported and sponsored programs, which will provide finance to different water and energy efficient projects. However, determining the best option can be a difficult task.
Many house-owners are already aware about the six year old SCEIP, which is available in each of the nine cities of the county and even in the unincorporated area. For a very less finance down, the county-sponsored effort offers financing for different projects, with costs added to the house-owners’ bills of property tax. The approved contractors finish with their work, and further the owners return the borrowed funds over different periods between 10 and 20 years bearing an annual interest rate of 7%.
Apart from that, three more separate programs are adding to the SCEIP, which will compete for the residential projects and the fourth one will provide financing only for the commercial projects. Fees will be different and the interest rates will be from under 7% for a five-year loan to more than 8% for a 20-year loan.
Nevertheless, none of the recent residential programs presently are available in the Sonoma County, as the SCEIP is. For instance, two recent programs are taking applications today in Sebastopol and one of them is available in Petaluma and Windsor. However, none are as yet available in the Santa Rosa, though that may change this summer. The program officials have stated that they are hoping to progressively operate countywide, but that totally depends on getting the approval from each and every city council.