The economic crisis has taken its toll on a number of real estate projects around the world. However, the good news is that ‘green’ projects may not have to bear the brunt of the financial crisis any more. U.S. Bank, a unit of Minneapolis-based U.S. Bancorp (NYSE: USB), is all set to offer new plans for home-equity loan and line-of-credit programs.

The new plans would perhaps make a good deal for the home improvement projects that qualify as ‘green’. However U.S. bank would only offer the new plans Colorado for the time being. The homes that qualify as ‘green’ are the ones that boast of solar energy systems like solar heater, solar generator, solar geezers, etc. Similarly homes with small wind systems, fuel cells and other energy efficient technologies. Green buildings that use solar power to generate electricity also form a part of this category.

U.S. Bank’s regional president in Denver, Hassan Salem said that the bank chose to offer the programs in Colorado as a part of Colorado’s commitment to promote energy efficient home building to its people. “There has also been increased consumer interest in tax incentives and rebates,” he further added.

Colorado is known for green living, eco friendly houses and buildings, and this move by U.S. bank comes as a measure to help folks from Colorado better their style of living. The bank plans to promote its new loan plans to various other states in the near future.

Source: http://cleantechlawandbusiness.com/cleanbeta/index.php/2009/09/green-mortgages-encourage-residential-solar/