Shine On!

Solar power has been around for billions of years, but Californians are finally being financially encouraged to harness the stuff. And Governor Schwarzenegger may finally found something to hang his political sunhat on - he started the "Million Solar Rooftops" initiative and now has the backing of California's Public Utilities Commission with a 3 to 1 approval of the measure.

The bottom line is that builders and homeowners can receive up to one-third of the cost of installing a solar system on their homes - one that will cost about $27,000. The system should provide enough power for a 2500 square foot home to zero out it's annual electricity costs by running the meter backwards during the sunny days (California gets a lot of sunny days).

Initially, the incentives will be targeted on larger projects (like new office buildings or apartment complexes) and over the ten year period, existing residences will begin taking their share of the $2.9 billion program.

But the issue here is, will it be worth it? It takes a lot of $200 electricity bills to make up for the $27,000 investment in free power - about 11 years worth (or 7 years with the rebates). But as energy costs continue to rise as they have in the past, it may be well worth it if you plan to be where you're at for a while.

Plus, it's the right thing to do for the environment - and that's not always the right economic choice...