A Green & Solar Loan is a type of personal loan specifically for projects intended to boost energy efficiency in your home, and provide cost savings. They are typically larger scale projects that require significant investment for the cost-conscious and environmentally aware homeowner.
Help The Planet And Save Money
With sustainability loans, now is the perfect time to consider “getting off the grid” and switching to renewable green energy. Whether you install solar panelling or go with a water preservation system, your energy savings can be significant when you green your home.
Every little bit helps – for your budget and our planet. But the initial technological costs of going green can often prove daunting to many of us. It’s a worthy cause: helping the environment through green energy initiatives benefits everyone.
Consider starting with small steps, going green may not demand a complete remodel of your home. Energy efficient green roofing and green windows can help drastically lower your cooling and heating costs. If you live in a drought affected area, consider switching to green landscaping with native plants and flowers. Not only will you enhance your garden appeal, but you’ll significantly lower your water bill and spend no time ripping up dead plants.
Make the decision to explore both green and solar loans online and keep more money in your pocket at the same time you, personally, are making the world a better place for future generations.
How can I use a green loan?
If you’re doing major remodeling to multiple rooms, it’s the prime opportunity to make your home eco-friendly from top to bottom. Big renovations could include these green projects:
- New window designs to increase natural light
- Added insulation, including for walls, floors, and ceilings
- Energy star certified systems
A green loan makes a lot of sense if you are installing solar panels. More than 2.7 million Australian homes have solar panels according to a solar energy industry report; a sharp increase in just three years. While the cost of installation is between $3,000 and $10,000 for the average home, the upshot is that you have control of your energy supply, and you’re saving money over a long period of time.
What are the terms of a green loan?
The terms of a green loan vary by lender. When comparing the terms of different green loans, be sure to compare whether providers charge origination fees, closing costs, or prepayment penalties. Those additional costs can quickly add up if you’re not careful, and every lender offers different benefits.
There are flexible repayment terms and some have no fees as long as you pay on time.
Keep in mind that if you pay the loan off in a shorter amount of time, repayments will be higher, but the interest paid will be less. Paying off over a longer period will have lower rates, but a much higher total interest amount.
Overall Advantages
There are many advantages to creating a green home. You’re creating a more comfortable place to live, reducing your carbon footprint, and keeping money in your pocket year after year.