Slash Your Energy Bills Today With These Hidden Solar Power Programs

Solar power is a great way to help save the environment and reduce your energy bills, so it’s definitely worth the investment. Not all of us however have the ready cash to pay for the panels, installation, and any other costs that may come along. That’s where solar programs can really help. There’s a range of incentive and funding programs available in the US to help make solar power more affordable to you. There are also ways to benefit from solar power without having to make the purchase yourself.

Government-sponsored programs

Energy Efficient Mortgages are offered through the FHA and cover all of the purchasing cost, as long as the features are approved. Your monthly payments are offset by the savings in energy bills. FHA PowerSaver is similar, in that the FHA offers financing to cover the cost of energy-saving home improvements, currently upto a total value of $25,000. If you are a small business, the Rural Energy for America Program or REAP offers financial assistance to rural companies wanting to buy renewable energy systems.

State initiatives

These are definitely worth looking into and can save you even more money. The California Solar Initiative for example (CSI) offers cash back for installing solar panels in your home.

Private financing

Many solar energy system companies also offer financing via third parties, usually banks or national loan providers. It’s worth going to your own bank to see if they offer home loans to cover the cost, and they may offer lower interest rates as well.

Leasing and purchasing agreements

If you really don’t want to buy, solar leasing might work for you. Basically the solar system provider retains ownership and you pay a monthly fee that usually covers maintenance also. Alternatively, a PPA (Power Purchase Agreement) means that a third party owns the solar power system and you pay for the electricity at an agreed, set price.