Benefits of Investing in Solar Panels for Your Home
Having a reliable source of energy to keep your air conditioning running is crucial for maintaining comfortable indoor temperatures during the scorching summer months. If you live in a sunny state, you’ve probably heard a thing or two about the benefits of going solar. Especially in states like California where the risk of widespread blackouts during the summer months can leave you and your family vulnerable.
If you’re still wondering whether a renewable energy system is a wise investment for your home, consider these benefits:
Depending on the size of your home and your overall power usage, the average solar user may see between $20,000 and $50,000 in savings during the 25 to 30 year lifespan of the solar panels.
Renewable Energy Certificates
Homeowners with solar panels that create more energy than used may be able to sell it back to utility companies with net metering in the form of a Renewable Energy Certificate or use it as credit against future power usage.
The U.S. Energy Department recommends researching incentives available to you with the Database of State Incentives for Renewables & Efficiency (DSIRE). It will determine which incentives like tax credits, cash back, property tax exemptions, waived fees or even expedited permits you’re eligible for when you install solar panels.
Increasing Resale Value of Home
The financial benefit of lower electricity bills and the increasing unpredictability of utility companies have made homes powered by renewable sources in demand. Your home will also be more appealing to buyers who don’t want to go through additional financing and the installation of solar panels.
The more homeowners switching to solar from traditional energy sources will reduce the amount of carbon and other pollutants that get released into the atmosphere, translating into cleaner air and water.
Financing Your Solar Installation
Are you sold on the benefits but unsure how to finance your solar project? The Property Assessed Clean Energy (PACE) program is a unique financing solution that allows homeowners in eligible communities to finance 100% of energy efficiency and home safety projects with:
- Zero upfront payments
- Low-interest rates
- Terms of up to 30 years
There are many unique safeguards and benefits built into PACE financing, so homeowners can feel confident in achieving a more dependable and efficient energy source with solar panels.
Are you looking to learn more about financing your solar installation with PACE? Call us today, at 844-736-3934.
PACE financing is subject to approval. Underwriting requirements and restrictions apply. PACE financing is secured by a lien on the subject property and often required to be repaid upon refinance or sale. PACE financing is private financing that must be repaid in full. PACE financing is not a government subsidy. Renew Financial Group LLC, a Delaware limited liability company (Renew Financial), is a private company and not a government entity. The installation or construction of property improvements financed with a PACE assessment is provided through an independent third-party home improvement contractor or other third-party provider, and not by Renew Financial or a government entity. Homeowners should perform due diligence before selecting a home improvement contractor or source of financing. Financing provided in California through Department of Financial Innovation and Protection License No. 60DBO-90653.
All content provided on this blog is for informational purposes only. Renew Financial makes no representations as to the accuracy or completeness of any information found by following any link on this site. Renew Financial is not a financial or home improvement advisor and information contained in this post should not be viewed as legal or financial advice.