Many Americans are looking for ways to reduce their carbon footprint and live sustainably. Is it possible to help the protect the environment, reduce your carbon footprint, AND save money? Yes, it is! One way is to consider installing solar energy system on your property. By adding this renewable energy system, you’ll not only decrease your impact on the environment, but you’ll also decrease your energy costs and increase your home’s value.
Although a solar energy system will pay for itself over the long run, the cost of installing it can be quite expensive. Home Equity Loans can help finance the installation of the system at your home.
According to the U.S. Solar Energy Technologies Office, the monthly payment for these loans is often smaller than a typical energy bill.
Buying a solar energy system also has tax benefits. Installing a system makes you eligible for the Solar Investment Tax Credit, allowing you to deduct a certain percentage of the installation cost from your federal taxes. Currently, the credit is 26% and will decrease to 22% by 2022.
If you are considering “going green” by installing solar panels, but need help paying for the upfront cost, then talk to one of our loan officers about our solar loans.
