Solar power is about to get a lot less costly in Baltimore, Maryland. Md. homeowners and business owners will qualify for photovoltaic equipment loans. Rents of solar energy equipment are going to last at least 20 years.
What Maryland will be doing with solar energy
Getting solar energy onto more roofs is the goal that a California-based business has in Baltimore. When it comes to photovoltaic systems, homeowners and companies could have the chance of getting zero down loans and rents. It will not cost as much as a short term loan to pay the loan over the course of 20 years. Less will have to be paid back if one thing is done. All you’ve to do is use municipal power to hook up your photovoltaic up to.
How solar energy rents out
Solar energy is something homes and companies have been unwilling to switch to. The cost of all this is the reason why. More than $20,000 is what a basic solar power system generally costs. Some cities and states have tried to encourage renewable power systems by offsetting the costs with tax credits. The idea has been taken private by SolarCity which is a CA company. SolarCity offers full photovoltaic systems for a monthly fee. A short term installment loan is made to all of the homeowners and companies that want the equipment while the business gets paid back over the years.
The effects solar power could have
Though the SolarCity power company makes its money with the leased power systems, are customers going to be making a good financial choice? This might be the case. It is possible. Solar power systems could be tied into city power and the excess sold back to the power company. The cost of maintenance and installing the power system needs to be balanced with the power bill savings that is coming in. The short-term loan of equipment can certainly be worth the savings if power rates are high.
Articles cited
Baltimore Sun
articles.baltimoresun.com/2011-01-24/business/bs-bz-solar-lease-20110124_1_photovoltaic-systems-california-firm-leasing
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