Jan 23, 2012
The federal government gives a big tax credit for the installation of home solar panels – 30% of the cost can be deducted from taxes. What a good thing – cheaper electricity without pollution!
Not quite! The cost of putting solar panels on a home is $90,000. Only the well-off can afford it. This is where banks step in. They offer to put on the panels for free, then charge the homeowner for electricity. But the banks get all the tax credits.
And then run off! They sell the installed panels to investors, just like they did subprime mortgages and student loans. Rates go up and the consumer gets stuck with the electricity bills. All in the name of “green energy.”