Why Solar Energy Loans Make Sense

The financing of a change to solar power is one of the biggest obstacles to its adoption by the average homeowner

. But, there are now solutions available that allow most people to overcome this obstacle. Many banks, institutions and commercial companies offer homeowners the possibility of getting solar energy in a flexible and affordable way, thanks to loans based on federal taxes' credit for residential solar energy systems. If you want to improve your home with the installation of a solar panel system, or a thin solar roofing system, but you don't have the money available to do so, you may want to consider a solar loan program.

The E.E.M. (Energy Efficient Mortgage) program helps current and potential homeowners to significantly reduce their monthly utility bills. This results from the government's goal to make energy efficiency and conservation a way of life, and it allows the consumer to incorporate the cost of the solar system installation into the home mortgage loan. An E.E.M. loan is especially advisable for low and moderate income families, as it allows them to purchase an energy efficient home at an affordable initial cost.

Another possibility is leasing solar panels instead of buying them. This works pretty much as a car lease inasmuch as the solar company and the utility team install the panels without initial costs and the consumers then pay a utility fee for a predetermined time. The consumer is paying for the equipment not just paying for the energy it produces. And since you have proactive monitoring for the duration of the lease and any repair cost is covered, the consumer is free of worries. This solution also allows the consumer to upgrade to a new system with the latest solar technology. Plus, it will add value to a home, particularly if the owner is selling it, as more and more people are looking for energy efficient "green" homes.

by: E Lopes

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