The power behind solar financing

By Jillian Marshall

May 1, 2014 Updated May 1, 2014 at 7:17 PM EDT

Binghamton, NY (WBNG Binghamton) A local coalition is partnering with the state to help increase the use of clean energy and solar power in the Southern Tier.

Leaders from the NY Green Bank came to Binghamton on Thursday to meet with local banks and credit unions in hopes of bringing more solar power to the area.

"It's a great opportunity to improve the energy profile of your home, to reduce your bills, to invest in an asset that's going to grow in value over time," said Jessica Aldridge, of the NY Green Bank.

Members of the Southern Tier Solar Works said the solar market is in its beginning stages in the Southern Tier and the Green Bank can help get the ball rolling for hundreds of customers.

"One of the things that we had in mind was the eventual goal for financing these kinds of residential projects, just go to the bank and get a loan as if you were getting a car or a major appliance," said program manager Adam Flint.

Gov. Andrew Cuomo (D) opened the bank in January to work with financial institutions to help residents obtain loans from local banks.

There is a public meeting on Thursday, May 1 at 7 p.m. at Cornell Cooperative Extension that will focus on how to obtain funding for solar projects.