GE Money today announced a new financing program for solar installations, and this could be just the ticket for lenders reeling from the mortgage debacle.

Yes, solar today is small potatoes compared to mortgages, but there's no reason why it can't be a profit center for years to come. For the solar industry to grow, innovative financing options are needed, and lenders burned by their aggressive expansion and risky loans should move towards more stable solar financing.

GE Money has created a new lending program that it will offer through Yes! Solar Solutions, a subsidiary of Solar Power, Inc of Roseville, California. It is a positive that GE, which is doing its part in sustainable innovation, is also pushing its lending division to offer solar financing.

“Installing a solar power system is equivalent to prepaying for 40 years of power at a fraction of the cost you currently pay,” said Jeff Winzeler, president for Yes! Solar Solutions.

Financing companies need to develop programs that consider solar differently from other types of home loans. Consumers who buy solar are a distinct demographic, and lowering a home's energy bills needs to be considered when calculating a loan.