How to Fund Your Solar Energy Conversion
If going green and converting to household solar power is in your future, programs exist to help fund it, including low-cost government loans, federal grants and stimulus program initiatives. Although most government-based solar energy funding programs come in the form of loans, other options are available, including tax breaks, rebates and both federal and state grant programs. The key to the process is having all necessary information ready before applying, including estimated costs, energy use and savings expected by switching to a home solar system Does this Spark an idea?
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Instructions
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Make a solar energy plan. It should take into account system requirements, how much electricity or hot water is used on average and desired goals for your household solar power system.
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Contact a solar energy installation professional. When applying for federal or other solar energy grants or assistance, a safe precaution is to have the home solar system professionally designed. When this home solar system planning is complete, you will have the necessary information to determine which solar energy funding program is best designed for your needs.
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Research the available solar energy grant and assistance programs you are eligible for. The U.S. Department of Energy and the American Solar Energy Society list numerous programs and grants to help defray solar panel cost, offer low-interest loan programs and tax credits. (See References 1, 3 and 4)
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Fill out the appropriate applications for grants, assistance or other programs. This is standard procedure; be sure to follow all rules and guidelines required for each program. Alternative Energy Sources lists 16 grant tips to help make the process as smooth as possible. (See Reference 2)
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Tips & Warnings
There are many programs available. The U.S. Department of Energy's booklet: "The Borrower's Guide to Financing Solar Energy Systems" is an invaluable resource for both financing programs and home solar system basics.
Be sure to cover all bases when seeking solar energy funding. Many states offer rebate programs, as well as programs from your local energy supplier.
The American Solar Energy Society is a good start, it will lead you to the appropriate sites by clicking on the categories listed.
References
Resources
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