Green Real Estate Appraiser

California is encouraging home builders that install rooftop solar energy systems to tilt hose panels westward toward the setting sun.

The goal is to capture more renewable energy in the waning hours of the day, when electricity demands are often highest, explained David Hochschild, a member of the California Energy Commission who specializes in renewable energy. The goal is to avoid more of the air pollution that comes from gas-fired generators at conventional power plants.

In the northern hemisphere, rooftop panels typically have been oriented toward the south to capture as much sunlight as possible throughout the day.

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West-facing panels generate about 20 percent less power overall. But can boost energy production by 50 percent or more between the hours of 2 p.m. and 8 p.m.

“Even though it is less energy on an annual basis, it’s more valuable from an air pollution perspective,” Hochschild said in an interview on Friday.

The new guidelines increase rebates for west-facing solar energy systems by 15 percent, or as much as $500 per home, under a program known as the California Solar Initiative. Hochschild said it appears to be the first incentive in the country based specifically on west-facing solar panels.

Read more at: http://www.utsandiego.com/news/2014/sep/06/incentives-west-facing-solar/

Disclaimer: for information and entertainment purposes only

Hundreds of thousands of home sellers have had their pockets picked at closings during the past decade: They’ve been charged interest on their mortgages after their principal debts had been fully paid off.

But thanks to a policy switch made final last week, charging extra interest payments on loans insured by the Federal Housing Administration will soon be banned. FHA, which traditionally has served as a major source of financing for moderate-income first-time buyers, many of them African American and Latino, for years has allowed lenders to charge borrowers a full month of interest when they sell or refinance a home. This has been the case even when borrowers pay off the mortgage weeks in advance of the end of the month.

Say you went to closing on an FHA loan Sept. 3. Under standard industry rules followed by Fannie Mae, Freddie Mac and the Department of Veterans Affairs, your interest charges cannot extend beyond that date. But under FHA’s long-standing policy, lenders have been allowed to hit you with interest charges through Sept. 30.

Here are the details of the policy reform: Starting Jan. 21, new FHA mortgages will require lenders to collect interest only on the balance remaining on the date of closing for a home sale or refinancing. Under the revised policy, if you’re selling your home and you have a $150,000 balance left on your FHA loan, the lender will have to stop charging you interest on the date of the closing, not compute the interest charges that would be due through the end of the month and roll them into your bottom line.

read more at: http://www.washingtonpost.com/realestate/fha-will-stop-lenders-from-charging-extra-interest-when-homeowners-sell-or-refinance/2014/09/04/478a2a04-32a6-11e4-8f02-03c644b2d7d0_story.html

Disclaimer: for interest and entertainment purposes only.