Where Do You Get the Money to Finance Your Solar Heating System?

Financing the cost of a solar heating system is not hard; in fact, there are some special programs that are available to help many homeowners purchase their systems.

However, there are also very familiar financing options available also. One very common option is to finance the solar heating system through a home-equity loan. These loans offer lower interest rates and provide longer payment schedules than many conventional bank loans. In addition, man home-equity loans are tax-deductible. If you decide to go with a conventional bank loan, make sure that you look for one that offers longer terms and very low interest rates.

Depending in what state you live, there may be state offered incentives for purchasing solar technology. To find out, check with your state of local energy office or Department of Revenue. In addition, several electric utilities offer rebates to consumers who install solar energy equipment, which help reduce energy usage during peak demand times.

To find out more information about incentives offered in your state, please check the National Database of State Incentives for Renewable Energy (DSIRE). DSIRE offers information on financial and regulatory incentives to promote renewable energy technologies. The website for DSIRE is: www.dsireusa.org

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