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Solana Beach property owners who wish to purchase energy-efficient products for their homes will soon be able to fund some of them with loans assessed on their property.
Due to the City Council's unanimous adoption of the California First Property Assessed Clean Energy, or PACE, program, purchases between $5,000 and $75,000 can now be paid for through a 20-year lien on property tax bills. The loans can be applied to additions such as solar panels, insulation and water efficiency products. The interest rate is predicted to be between 6 percent and 8 percent, depending on market conditions.
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