There has not been a better time to switch your house to solar. Not only have solar panel prices dropped significantly in the last few years, at the beginning of 2016 PG&E announced their largest rate hike in 10 years! This could push the average customer’s electric bill up by 7%. If prices continue to rise like they have been (about 4% per year on average), over the next 20 years your electricity bill could double! In addition, the incentive programs will start ending soon. Utilities are required to offer Net Metering offsets for home solar power systems only until the total capacity of renewable energy generated exceeds 5% of their demand, and that capacity is filling up fast.
If you have been considering solar power for your business, there has not been a better time to buy than now! Solar panel prices have dropped significantly in the last few years, and the federal government is currently offering a Federal Tax Credit of 30% of the cost of purchasing a solar panel system and the capability to depreciate the system over five years up to 50% of the total cost. Solar systems are a great investment for your business, giving you huge savings on energy costs. And they are available for just about any type of business, including commercial buildings, restaurants, agricultural operations, well pumps and warehouses. We can install both roof and ground-mounted systems, making it ideal for any application!
Due to the unpredictable nature of agriculture, a farmer, probably more than any other business person, must look at the long term when considering where to put his money. More and more farmers are turning to solar power not just to save on their power costs, but also as an alternate source of dependable income. The barns, shops and storage buildings present on farms provide large areas of roof space for solar panels. With the requirement for power companies to buy unused energy from solar power systems connected to the grid, many farmers are seeing money coming in from the power company instead of going out.
Solar power also simplifies expanding farm facilities as the need for power lines or trenches is eliminated. Electricity is now available in areas that would have required a large infrastructure investment.
Mortgage lenders have a unique opportunity to help customers fund solar power systems on their properties. Both Fannie Mae and the FHA offer loan packages to help fund new systems and to pay for existing contracts. This makes it much easier on the buyer, reducing the headache that can happen with a pre-existing contract or allowing them to roll the cost of a new system into their mortgage. Fannie Mae’s HomeStyle Energy program allows borrowers to finance up to 15% of a home’s value for clean energy improvements, including solar power!
Financing solar energy along with a mortgage has many advantages for consumers.