It seems that solar power is finally registered on the US property radar, with the announcement of a further 12 new “solar cities” to bring the total of official Solar America Cities
located throughout the USA up to 25.
While the total figure is largely irrelevant in the overall picture of the US, it does offer an interesting option for those looking seeking US property markets set for future growth as these 25 cities are set to receive additional funding to achieve their solar goals and a greater profile within the market place if all goes to plan.
The US Department of Energy
(DOE) recently put aside some $2.4 million by way of future funding for the growing number of US cities which are embracing solar technology. Of the 25 cities, the Californian cities of Sacramento and San Jose have been named alongside Denver, Houston, Florida, Seattle and Washington as major hubs set to receive the additional funding, up to $200,000 per city, which will be used to compliment and improve ongoing projects and has been well received by a number of state and city authorities. So what affect will this have on these US cities housing markets?
On the surface the $2.4 million available will have a limited affect, but it is the funding possibilities which are attracting more and more attention. Following negative press coverage highlighting the US governments refusal as the only major western country not to ratify the Kyoto Protocol and despite 600 American cities signing up to the treaty regardless of Washington, it seems the US government have finally added their weight behind a number of environmental initiatives which will see the cost of installing solar panels on homes offset against local housing and property taxes. This offer has seen many US homeowners step forward, eager to do their bit for the environment and also reduce their future energy bills.
As time progresses these solar powered homes equipped with the latest energy saving mechanisms will be able to demand a premium in the market place on cost savings alone, not to mention the increased demand which will surely follow. Let us not forget that the recent rise in oil prices, no matter how long or short lived it may be, has focused the minds of many home owners towards their reliance on oil and gasoline. As the costs of home solar power technologies are driven down, adoption rates are set to rise.
Reduced energy costs and a less polluted atmosphere are sure to attract more and more home buyers to these selected cities.