By Daily Crux Editor Braden Copeland:
Business is booming for California-based solar panel installer SolarCity. Sales have doubled since last year. There are 3,000 installations in the queue and they have an 8-month waiting list.
This boom isn't because there's been a technology breakthrough or because people can pay cash for panel installation. Financial engineering and taxpayer subsidies deserve all of the credit.
In the craziest case of shoehorning solar panels into houses, the city of Berkeley is financing installations by making 20-year loans. That's on top of upfront rebates and tax credit payments. Madness.
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