Saturday, June 2, 2012

Nation's Largest City-Sponsored Solar Financing Program Re-Launches in Arizona

The second phase of the nation's largest city-sponsored residential solar financing program launched today thanks to the infusion of a $25 million commitment from National Bank of Arizona (NBA).

U.S. Energy Secretary Steven Chu and Phoenix Mayor Greg Stanton took part in an event to unveil the details of a program that will allow up to 1,000 Arizona homeowners access to affordable solar power. Secretary Chu formally recognized the program as an ideal national model of private solar funding that can be easily replicated in cities across America.

"Solar Phoenix 2 leads the way for a brighter and more secure energy future, a future for which I, as Mayor, intended to aggressively advocate on behalf of our residents," Phoenix Mayor Greg Stanton said. "We are tapping into Arizona's greatest resource, we're making solar happen and we're creating real jobs in our city. Solar Phoenix 2 reaffirms that Phoenix is the definitive place for investment in solar energy and opportunity and for a sustainable and successful economic future."

Solar Phoenix 2 allows qualifying homeowners throughout Arizona who are within the APS (Arizona Public Service) and SRP (Salt River Project) service territories, to install a solar system on their home with no upfront investment. Homeowners simply pay monthly to lease the equipment and enjoy the clean solar electricity the system generates.

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