| The Los Angeles Business Council promises excellent | | | | you consume to get yourself out of electrical tiers 3,4 |
| jobs and 600 MW of electricity if the city can institute | | | | and 5. By promising a set rate for electricity, property |
| a solar finance program. The proposed solar finance | | | | owners can sell their electricity during the middle of the |
| program would be funded by the Department of | | | | day (when they are producing more than they |
| Water and Power. It would allow Los Angeles to | | | | consume) and buy it back at night. A set rate on |
| create 3% of its electricity from the sun and attract | | | | purchasing solar ensures that this occurs profitably. |
| solar companies to the area to create jobs. | | | | Solar has already created 4,300 local jobs, but |
| The program, which has been implemented in Florida | | | | investment by the city of Los Angeles through solar |
| and Germany, is already a success. It will encourage | | | | finance would further propel the solar industry. |
| business owners and homeowners to install solar on | | | | The program will be paid by the Department of Water |
| their homes and commercial buildings. | | | | and Power. It is estimated that the program will cost |
| All excess electricity generated can be sold back to | | | | $35 million a year from its $4 billion budget. Already, the |
| the utility company at a set rate for the next 20 years. | | | | budget includes $800 million for renewable energy |
| This allows property owners to ensure their | | | | programs. By teaming up property owners, Los |
| investment. The idea behind a solar investment in | | | | Angeles can deploy solar with this robust finance |
| California is that you reduce the amount of electricity | | | | program. |