Residential >> Financing Options

HOMEOWNER ASSOCIATION SOLAR POWERED CITIES

Homeowner Associations are a unique opportunity to provide up to 100% cost-effective solar power to its members. The PermaCity design features the highest quality photovoltaic and construction, automated monitoring and maintenance notification as well as integrated energy control and networking with reserve power supplies. Additional options include super high-efficiency HVAC or Geo-Exchange heat pumps and solar thermal hot water for domestic or swimming pool usage.

Under the PermaCity program, each home empowers an integrated solar generation and reserve power storage system. Each home will generate 100% of its own power using roof mounted photovoltaic in combination with an inverter with limited fixed power storage. The home is also designed to be ready for a solar electric hybrid vehicle running on solar, batteries and a back-up, fuel filled generator that can run on direct vegetable oil, ethanol, etc. A neighborhood electric vehicle (NEV) can also be used. The result is that each home can export up to three times its annual usage with available power during peak shortages. Because electric vehicles already need batteries and are cost-effective for local transportation, the power storage in the batteries comes at no additional cost to the household.

ECONOMICS

Solar Electric is installed at no cost to the developer. Solar benefits from large tax credits, depreciation benefits and the PermaCity Power Fund (PPF) are being formed to use these tax credits as partners with not-for-profit entities such as Homeowner Associations. PermaCity Solar operates and maintains the system. A 10 year power purchase agreement (with 10 year options) is signed between the PPF and the Homeowner Association offering discounted electrical rates, generally from 20-40%. The Homeowner Association can buy out the PPA at the residual value. By designing and building long-life solar electric power on buildings, electric bills can be reduced by up to 70% over the life of the structure.