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California's Cap-And-Trade Money Helping Put Solar Panels On Low-Income Homes

OAKLAND (CBS SF) -- A new program in California is aiming to put pricey solar panels within reach of low-income families.

The cost of a solar panel system for a single home can reach over $15,000.

Oakland nonprofit Grid Alternatives is using nearly $15 million raised through the state's cap-and-trade system to install the panels in lower income neighborhoods for free, SFGate reported.

The organization hopes to install the systems on more than 16,000 homes with low-income families by the end of next year.  Homeowners could save as much as $1,000 per-year on their utility bills.

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