Posted June 11, 2014 by Gabriel Posternak

Save Money! All You Need to Know about Loans and Financing

If you are looking to do an energy audit in your home, you have made a wise choice indeed. It may seem overwhelming at first as there is quite a bit to know. You need to be familiar with all the different ways that you can save money and save the environment and its energy when doing an energy audit. Next, you need to know which energy saving items are best for you, your family, and your home. Then, you need to look into the cost effectiveness of each and every program.

Moreover, you need to do your research when it comes to energy loans and energy financing. This may seem a bit daunting, but there are some things you need to know about energy loans and financing.

Years ago, it was only the affluent who could afford to save money and renewable resources by purchasing solar panels. Today, however, the incentives to save money and energy are on a fast and furious upward swing.

One such state, California, is getting in on that trend and helping to make energy efficiency more cost effective. The PACE Program, which is an acronym for Property Assessed Clean Energy is helping homeowners save money and save energy at the same time. Thanks to this program, homeowners will have access to more affordable energy efficient water saving projects, as well.

Thankfully, both the purchase of equipment and the installation is considered under the PACE Program. By utilizing a special tax assessment, homeowners can pay their energy saving project through a property tax bill for up to a span of almost two decades. This makes it more affordable and within reach for homeowners not only to go green, but also to save valuable resources and lower carbon footprints.

Choices such as solar panels, insulation such as batting insulation or dense cell packing, low flow shower heads, toilets, and faucets, and even consideration for windows and roofing are available to homeowners in California whereas it was not as easily accessible beforehand.

Another great example of good use of energy loans and financing is the HERO Program. The Hero Program, which is an acronym for Home Energy Renovation Opportunity, allows property owners to have access to funding to perform energy renovations in their homes.

The Hero Program offers low cost financing that is tax deductible to homeowners. This is a win/win situation as property owners gain the many advantages of energy renovation as well as long term, low cost, tax deductible financing. The financing is done through the property owners taxes over an extended period of time, perhaps up to 20 years.

Homeowners gain the advantage of saving money on energy bills, increasing the value of their homes, and low cost financing that is potentially something that future homebuyers can and will pick up through their property taxes.

Finally, one of the best ways to finance your home energy project is to finance through the company where you are receiving the services and installation. Some companies will offer you rebates and incentives as well as do the paperwork for your particular state’s home energy funding programs

So, as you can see, financing for your home renovation project is a win win situation.

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