Financing your Solar Panel System with Solar Loans
Solar Loans If you prefer not to spend the upfront money to install your solar panel system, solar loans are a great option for you. They allow you to finance the entire cost of your system. With a loan, you'll own your system and you'll be entitled to all rebates, tax credits and other incentives. These benefits allow you to maximize the return on your investment in solar. There are two types of solar loans, secured and unsecured. With both types, there are $0 down options so you won't have to put any money down.
Regardless of whether you use a secured or unsecured loan, your monthly loan payments are likely to be less than your current electric bill, so you will start saving money right away without any incurring any upfront costs. And, over time, as electricity prices continue to rise, your savings will continue to grow. the most common form of secured loans are home equity loans or home equity lines of credit, sometimes referred to as a second mortgage. With this type of loan, you borrow against the equity you've built in your home. Your home serves as collateral. These.
Loans have favorable terms and the lowest interest rates. Additionally, the interest on the loan is tax deductible. But, if for some reason you were to default on the loan, the bank has the option to foreclose on your home. A second, very similar type of loan is an FHA Title 1 secured loan. FHA Title 1 loans are guaranteed by the government. You would still use your home as collateral, These loans have favorable terms and low interest rates. If you default on the loan, the lender will have a lien against your home so that the loan will be paid when or if you sell your.
House. Your other option is an unsecured loan. These loans do not require any collateral. This makes them riskier for the lender, and that risk is reflected in the higher interest rate. These loans are similar to other personal loans or credit cards. Interest on these loans is not tax deductible. Also, if you were to default on an unsecured loan, your credit score would be impacted. Applying for a secured loan is a little more involved and takes slightly longer than an unsecured loan. Your bank may need the extra time to appraise the value of your home, since.
It will serve as collateral. Secured loans generally have lower interest rates because they are less risky. Lower interest rates translate to lower monthly payments and, you'll also be able to deduct the interest from a secured loan from your taxable income. Interest on unsecured loans is not tax deductible Now that you understand your options, you'll need to choose the one that's best for you. The EnergySage Marketplace is an excellent starting point. The Marketplace will help you get quotes from multiple prescreened solar installers and financial companies. It will also provide you with applestoapples comparisons of the.
Should you buy vs lease your solar panels
Should you buy or lease your solar panel system You already know that choosing solar has significant financial returns and environmental benefits but there questions you have to answer before you start to see your meter run backwards. Most importantly how will you finance your system There are solutions for every budget. There are two main financing options available when installing a solar energy system. You can either buy the system like buying a house or lease the system from the owner like renting an apartment. Both have benefits. Buying your system is the best way to maximize your financial savings and returns.
All of the savings come straight to you and you can save between 40 and 70 over the lifetime of your solar panels. Buying your system yourself usually costs between $10,000 and $20,000 after tax breaks and incentives. If you don't have that kind of capital, many lending institutions around the country offer loans that are specific to going solar. With loans you can own your system with zero money down. If own your solar panels, you can take advantage of the ITC. A federal tax credit that helps people pay for solar projects. The ITC lets you.
Subtract 30 of the cost of your system from your tax bill but it's only available for products that are installed by the end of 2016 so if you want to take advantage, you should act fast! If your tax bill is smaller than the value of the ITC for your system, leasing can be a great option. Leasing is also ideal if you don't want to pay the upfront cost or take out a loan. Or if your credit score is below 650. When your lease your system, you sign an agreement with.
The company that owns the solar panels. In exchange for a set monthly payment, they install the panels on the property for you to use and you enjoy the electricity produced for the length of the contract. Solar panels are very durable and require little to no maintenance during their 30year lifespan. However if you're worried about maintenance a solar lease may be a better option for you. The company that owns the panels will be responsible for any repairs and they'll come out and give you a hand. Now you know the different benefits of buying and.
The Future of Solar Energy is TINY Technology!
The future is huge for tiny technology. Miniaturization is, perhaps ironically, a huge deal. I mean, without it we wouldn't have had the personal computer revolution and we wouldn't have this world we live in now, where we have smartphones and tablets and other devices just as powerful as a computer, that can fit in the palm of your hand. But even these gadgets are gargantuan compared to nanotechnology! See, a nanometer is just one billionth of a meter. And that's kind of hard to imagine, so let me put it to you this way.
Your typical sheet of paper is about one hundred thousand nanometers thick. And at this scale, individual elements are so small you can't even see them with a light microscope. Now as we learn more about how materials behave on the nanoscale, we have more potential applications to use that knowledge practically. I'm talking about how nanotech could help solar panel technology. And fortunately, at a recent meeting of the American Association for the Advancement of Science, or AAAS, they had a panel on just this very subject. Now if you know anything about solar panels you know they have some drawbacks. For example,.
Efficiency they max out at around twenty percent in the field under ideal conditions. They're also rigid, so you can't just put them anywhere you like. And they tend to be expensive because manufacturing them is complicated. But scientists hope that nanotechnology can help address all three of these challenges. Now with efficiency they're looking to nature specifically, moth eyes. You see, moths have these little tiny structures in their eyes that help reflect light back into the eye and it does two things it lets them see better in the dark, and it cuts down.
On reflection so predators can't spot them as easily. With solar panels it could actually make them more efficient by reflecting more of the sun's light into the panel so you lose less in reflection. And when we're talking about flexibility, well nanomaterials are really, really small, and there is the potential to create solar panels that are just a few sheets of molecules thick. They could be as flexible as a sheet of paper, and with that kind of flexibility you could put those pretty much anywhere you wanted to.
And as for price, well, that's the big one. And in the short term I don't think it's going to turn around. But scientists are cautiously optimistic that nanotechnology will let us use new processes, like printing solar panels directly onto a substrate using just a specialized printer. That would actually be less complicated and expensive than traditional manufacturing methods. Now at that meeting of the AAAS, a Dr. Wolfgang Porod gave a talk about Nanoantenna Thermocouples for Energy Harvesting. Which I admit sounds like technobabble straight out of a Star Trek episode.
But it's actually fairly simple once you break it down. A nanoantenna is just an antenna on the nanoscale. These resonate with longwave infrared radiation. And a thermocouple Well that's a component of circuitry that generates a voltage when one part of the thermocouple is a different temperature than other part. So you pair these two together and the antenna generates heat and the thermocouple generates voltage. It could actually help increase the efficiency of solar panels. Now like I said, nanotechnology is a young science and it has lots of different applications.
Across many disciplines. And I'm really excited how such a small technology could have such a huge impact. That leads me to this week's question. When I say the word nanotechnology what do you imagine What does that word mean to you Let us know in the comments below. Then, do me a nanosized favor and share this tutorial with your friends. If you enjoyed it make sure you hit the 'like' button and subscribe to our channel. Then check out these tutorials over here. There's some huge surprises in them.
DIY Solar Panel System Cost
The total of the system and materials was $22K. I ended up spending about another $1,800 in permit fees and a structural engineer and $400 for an electrician, several hundred dollars for a guy to come help me out for the two afternoons he spent with me. Xcel Energy gave me $16,538 rebate. Fix cost based on the number of kilowatts you are installing and has nothing to do with how much you pay the permit office or the electrician. My final cost after rebate was $7,237. I started my research in solar probably about a year before I actually installed it went.
And got a couple of bids from some of the local solar people both from contractors that my friends have used as well as just searching the internet and while talking to one of the guys I find of developed a good feeling from him, and I asked the question Would it be possible to do some of the work myself and kind of learn along the way he said Sure I absolutely support the doityourselfer DIY so I said why don't you throw me bids, what it would cost just come home and have solar one day and what it would cost to have.
It done where I do some or all the work myself. And throw them both to me and I said let's try the second one. The guys name is Steve Cross from Sun Spot Solar. I gave him my electric bills and said this is how much I think I need to generate and he said I agree and lets do these types of panels 180 watts each, you will need some where around 19 to 22 we figured out 21 fit pretty well. So I went and got all the permit information from Golden, filled it out. He came by 12.
Hour one day he type all the Xcel application on the internet and I kind of ran the process and when I had a question I would just send him an email and he helped me out. I think in parallel we order the equipment he dropped off in my driveway. Then one of his installers came out and helped me for two afternoons and I pretty much myself put in the whole rack system on the roof and the installer came out and helped me kind of a two man job carrying the panels up, putting the panels down and bracketing them down.
Advantages Of Solar Energy Renewable Power
Advantages Of Solar Energy Renewable Power thespottydoggreviewsolarpoweradvantages Advantages Of Solar Energy. The sun's energy or the solar energy is the most abundant form of energy available on earth. The sun is capable of giving us more than heat and light. The sun has been one of the biggest factors dictating every living being's stay on the earth. If we go the right path, we can harness more from the solar energy, like generating power for daily use. What are the advantages of solar power The solar energy solution is gaining popularity amongst the alternate energy solutions.
Green energy solution When you look at the solar energy solution, you will realize that it uses absolutely no fuel other than the sun's light. Moreover, it does not release into the atmosphere anything harmful. Cheapest renewable power solution First, the energy comes free. Then, the installation cost is a onetime cost. Finally, the investment is recovered within a few years of installation, making the power generated by solar energy absolutely free. Convenience of storage You cannot store conventional power but you can store solar power for future use. The sun's energy comes to rescue even in the times of darkness! Storing.
It also ensures a 24x7 supply of power, thus saving you from any power outage. Low on maintenance The solar energy systems are easy to maintain. They do not involve high costs or too much effort, thus letting you reap the benefits of the solution comfortably. How can solar power be used Solar power can be used in our everyday lives by adopting the following solar power systems Solar cooking system Solar cooking is about cooking without lighting a fire or using electricity! Before you wonder, let me tell you that solar cooking is not about bland.
Food. You can cook in more ways than one boil, roast, or bake, cook the way you want! The only demand that solar cooking makes of you is being patient it is a matter of more than a few minutes. However, it is not asking for too much given that you will get tasteful and healthy food without worrying about paying your gas or electricity bill. Solar lighting system You can now light up the entire house, use every electrical appliance without thinking about cutting down bills. The solar lighting system lights up.
San Diego Solar Installers 619 7853211 Best Solar Panels
We get asked about the battery question almost on every job, and we tell them to wait. And I tell them there's some really exciting technologies that are coming down the pipe. There's flow batteries, potentially, high energy density flow batteries. There's nanotech enhanced lithium ion that's coming. There's liquid salt batteries that are coming. There's a number potentially, ultracapacitors. Batteries have a bad reputation, but what we're working on are supercapacitors, and supercapacitors you can think of as a charge storage device like a battery, except it charges and discharges 100 to 1000 times faster.
A supercapacitor is one which combines the best attributes of both. If you think about all the electronic devices you have, right now, every time you need one, you realize, oh, I forgot to charge it up. But imagine if you could take that same device, plug in the wall for 30 seconds or a minute, and be ready to go. There's a number of really exciting battery technologies all competing to fill the super battery space, or the battery of the future the battery that can power your whole house, last for 10 to 20 years, and not cost you too much.
That battery's coming, and it's not quite here yet. Cost of lithium ion has dropped precipitously over the last several years, but it's not quite there yet. And so we tell our customers to wait. The day will come, and it's not too many years in the future when you'll be able to power your life off of solar, not just during the daytime when the sun's shining, but also at night. You'll be able to put a battery in your garage that's the size of a refrigerator that'll run your whole house for a couple days.
Energy 101 Concentrating Solar Power
Bjbj Take the natural heat from the sun, reflect it against a mirror, focus all of that heat on one area, send it through a power system, and you've got a renewable way of making electricity. It's called concentrating solar power, or CSP. Now, there are many types of CSP technologies. Towers, dishes, linear mirrors, and troughs. Have a look at this parabolic trough system. Parabolic troughs are large mirrors shaped like a giant U. These troughs are connected together in long lines and will track the sun throughout the day. When the sun's heat.
Is reflected off the mirror, the curved shape sends most of that reflected heat onto a receiver. The receiver tube is filled a fluid. It could be oil, molten salt something that holds the heat well. Basically, this super hot liquid heats water in this thing called a heat exchanger and the water turns to steam. The steam is sent off to a turbine, and from there, it's business as usual inside a power plant. A steam turbine spins a generator and the generator makes electricity. Once the fluid transfers it heat, it's recycled and used over and over.
And the steam is also cooled, condensed and recycled again and again. One big advantage of these trough systems is that the heated fluid can be stored and used later to keep making electricity when the sun isn't shining. Sunny skies and hot temperatures make the southwest U.S. an ideal place for these kinds of power plants. Many concentrated solar power plants could be built within the next several years. And a single plant can generate 250 megawatts or more, which is enough to power about 90,000 homes. That's a lot of electricity.
Best Solar Panel Company Escondido 888 6881411 Solar Installation
Best Solar Panel Company Escondido, CA We are Solar Symphony Escondido so why should you choos Solar Symphony Escondido for your solar power services company we have raving fans Great customer service our customers receive the highest quality solar products expert solar panel installation in Escondido and low cost compelling value They are one of the best solar companies We could not be more pleased with Solar Symphony They really went above and beyond with their great customer service I made the best choice for solar panel install Escondido. These guys are awesome.
Google Invests $80M In New Solar Energy Projects
It's no headup display, or a selfdriving car, but Google's latest investment is keeping the future in mind. The company has partnered with investment firm KKR to funnel $80 million into solar energy installations in California and Arizona. Via Fox Business Recurrent Energy is building and maintaining the solar farms, which have a combined capacity of 106 MW enough to power 17,000 homes for a year when they go live. Google says it won't be using any of these 106 MW specifically for its own power needs, though. It's taking a more global view.
These investments are all part of our drive toward a clean energy futurewhere renewable energy is abundant, accessible and affordable. Which isn't to say Google won't see a direct benefit. After all, says GigaOM, the investment stands to make money on the generated electricity. Google can get renewable energy credits to offset its datacenter electricity costs. Softpedia explains Google's playing a long game with this investment. Any increase in the availability of renewable energy plays into Google's plans. The company has a goal of becoming completely carbon neutral, something that it now achieves.
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