Live Like An Eco Rockstar, Affordably

How cool are these eco-friendly, solar-powered homes?

While these homes are definitely not in the average consumer’s budget, it’s important to know that renewable energy, especially solar, IS definitely a possibility for those without expendable cash.

The Solarize program is wrapping up in Essex, CT but they will be planning what towns are coming next to welcome the campaign very soon. However, even if your home is not in the next group of cities chosen for the Solarize campaign, there are still a few ways to make solar affordable for every eligible homeowner in Connecticut.

Of course, buying a PV system outright definitely saves on interest and immediately gets you saving money on energy costs. There are a few other options for those that don’t have that much, or any, cash to put down.

The CT Solar Lease is a fixed rate, monthly payment after the first year and is owned by a third party, rather than the homeowner. There’s no money down required, and the lease is for 20 years. It can also be assigned to a new owner, if you happen to sell your home before that time is up.

The CT Solar Loan requires a down payment, but the good part about that, as with most loans, it decreases the interest as well as allows for the system to be paid off.

The Smart E-Loan is a loan with flexible terms and no money down. It does have a $25000 limit, but it can also be used for other purchases to make your home more energy-friendly. Although the loan is anywhere from 5-12 years, the homeowner can buyout on the lease after 5 years.

Additionally, programs like Solarize really work to bring rates down, as does the 30% federal tax rebate from each system.

So maybe you aren’t able to get a house that looks like this:

But at least if your home is eligible otherwise, you can afford solar and not break the bank.

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