Clean Renewable Energy is Easy and Quick With Solar Power If you’re a homeowner, you should take advantages of all the benefits home ownership can offer to your finances. Owning a home can be expensive, but it saves you money when you consider that you don’t have to pay rent and the money you spend […]
Clean Renewable Energy is Easy and Quick With Solar Power
If you’re a homeowner, you should take advantages of all the benefits home ownership can offer to your finances. Owning a home can be expensive, but it saves you money when you consider that you don’t have to pay rent and the money you spend only builds your equity in your home over time and you’ll someday get it back if you ever sell your home.
There are many things you can do with your home to boost the financial benefits of owning a home even more. One great thing you can do can benefit not only your finances, but your environment as well. If you want to improve your home and finances in a variety of ways, you should consider upgrading your home to clean energy with the installation of solar panels.
The benefits offered by an upgrade to solar panels
You should know that there are multiple benefits to installing solar panels. You might make the assumption that this is only something that people do for the environment. In fact, it’s more than that. You should know that the government offers various tax credits to homeowners for having solar panels installed. This can make it so that having these panels installed is far more affordable than you ever could have imagined. In fact, tax credits can cover 30 percent of the costs of an initial installation of a solar panel system.
Homeowners will also save money after the installation of solar panels thanks to the fact that their energy bills will go down. Solar panels generate electricity, and a house with solar panels installed will not consume nearly as much power supplied by a local utility as a house that is entirely reliant on local utilities for energy. Therefore, homeowners will notice that their utility bills are significantly lower after solar panels installed. How effective your home is at producing solar electricity will depend on how much sunlight your area gets. In some cases, homeowners may be able to supply all or the vast majority of their electricity needs through solar panel installations.
If you’re interested in upgrading your home to clean energy, you should also be aware of the fact that solar panels can increase the resale value of your property. When you put your home on the market, its potential to create solar energy is likely to make it more appealing to prospective buyers. Solar panel installations make homes more attractive to buyers not only because of the potential to save on utility bills, but also because of the general desire of people these days to be more environmentally responsible.
Finding financing to pay for the initial installation
It’s clear that there are a lot of advantages to having a solar panel installation placed on your home. However, anyone who’s interested in solar panels should know that an installation is going to cost some money initially. Statistics show that an average size solar panel installation of 5 kilowatts could cost around $16,800 before any tax credit are taken off. A lot of homeowners may not have this kind of money lying around in savings, so the will need to be creative in figuring out how they can finance the system.
One great option to conveniently finance a solar panel installation even if you don’t have great credit is a title loan. This type of loan allows you to take out a convenient loan using your vehicle as collateral. Although your vehicle will be technically held as collateral on this type of loan, you’ll get to continue using it throughout the life of the loan. The only thing you have to hand over to the lender is the title, which you should only need when you purchase or sell a vehicle.
Important information about title loans
Before you seriously consider this type of loan to finance your solar panel installation, you should learn about what is a title loan and how it can benefit you in your particular situation. This kind of loan is a type of alternative lending product. It is also considered to be a secured loan. A secured loan is any type of loan involving collateral, and in the case of this type of loan the collateral is the borrower’s vehicle.
The borrower gives the title to the lender and the lender keeps the title until the borrower pays off the loan. Once the loan is paid off, the lender will give the title back to the borrower. The borrower gets full possession of the vehicle throughout the whole loan and the only way to the lender can possess the car itself is if the borrower defaults on the loan.
You’ll want to learn more about title loans to see if they can make your goal of having solar panels installed on your home possible.