Banks will offer all current mortgagees-in-good-standing the money needed to install a sufficient number of rooftop-solar-panels to take the home "off grid." This "tacked on" loanmoney will be added to the existing mortgage by fiat. There will be no appraisal fee nor closing costs. We now know that solar installation is "money in the bank." It is likely that no other investment is as sound as solar energy with its demonstrated track record as a rock-solid money-maker. Whichever major American bank promotes this scheme first will reap a propaganda bonanza, simultaneously making a handsome profit.
Participating lenders will contribute to The Common Good in ways that were previously inconceivable.
India, which uses competitive bidding to select companies offering to generate clean energy at the lowest cost, awarded 750 megawatts of permits on Feb. 21, half of that eligible to use imported equipment. The government also offeredgrants to offset project costs for the first time, helping attract bids for triple the capacity auctioned.
Winners of the import-eligible capacity, who bid seeking the least from the 18.75 billion rupees ($302 million) of subsidies, priced electricity from solar panels at an average 6,500 rupees a megawatt-hour, down 25 percent from a national tender two years ago, said Jasmeet Khurana, head of market intelligence at solar consultancy Bridge to India Energy Pvt.
India plans a sixfold increase in solar capacity drawing $11.7 billion of investment by 2017 to reduce blackouts as plunging panel prices help photovoltaic projects compete with coal- and gas-fired plants.
The average price of silicon solar modules has fallen more than 7 percent since June, according to data compiled by research company PV Insights.
Solar panel and cell makers are jostling for market share amid rising stakes after the U.S. lodged a complaint at the World Trade Organization this month, accusing India of imposing trade barriers on the auction.