Melvin Ladousier: Why would government-backed groups get in solar business?
Re “Brown rips Fannie, Freddie loan stance” (Page 3A, July 20): I do not understand why Freddie Mac (Federal Home Loan Mortgage Corp.) and Fanny Mae (Federal National Mortgage Association) should even be involved at all in the solar business. Several solar-panel companies are jumping at the opportunity to install solar panels on your home at no cost. Their residential installation contracts put no liens on the property. You pay roughly 15 cents per kilowatt of power produced. PG&E currently charges 18 cents per kilowatt on tier one and the price goes higher as you consume more and move into higher tiers.
One such company offers a 20-year guarantee that your cost will not climb more than 1.99 percent per year. Commercial power companies can escalate as much as the California PUC (Public Utilities Commission) will allow. Vivint and Origin are just a few of the many solar power companies in California offering such contracts. There is no reason to involve any finance companies. Shop around all of the big-name solar companies.
Melvin Ladousier, Merced
This story was originally published August 3, 2016 at 1:13 PM with the headline "Melvin Ladousier: Why would government-backed groups get in solar business?."