How to Begin Planning For Solar Panel Financing

It’s very exciting that you have set a course to power your home through solar energy and in doing so will be increasingly saving on your utility bills. With a budget in hand and its particulars as ironed out as possible, you should have an idea by now about whether your project will require financing. If you do go the route of solar financing, it is best to have an understanding of the many options you can take.

No one knows your financial obligations and constraints better than you do, which means you (and your family and friends) are a great initial source for what version of solar financing will work best for you. Secondly, you should be consulting the experienced contractor working your project. They will at least have some institutional knowledge about financing solar home improvement projects and will definitely share anecdotal examples of the various choices you could make, based on what they have seen other homeowners do (complete with benefits and risks). Below, we’ll lay out some of the broad ways you could approach solar financing and how to best consider each avenue. Most importantly, just having looked up this guide means you’re doing the right thing and are in the right place — seeking out information about the financial nature of home improvement can be as impactful to your project as its nitty-gritty particulars.

Solar financing: Benefits from unique federal assistance

Unique to solar panel installations that homeowners partake are some credits, rebates, and incentives the government makes abundantly and relatively easy to get.

Chief among the incentives is the Residential Renewable Energy Tax Credit, which applies to up to 30 percent of your installation (that’s hard and soft costs combined). For example, Solar Energy International reports that a typical five-kilowatt solar system installation would drop from $ 15,428 to $ 10,800 after the rebate is applied. While such a discount is tempting, tax incentives apply during tax season—not before.

Some contractors agree to take on the full cost during installation and wait for the rebate themselves. Whatever the case, it’s important to have a clear understanding of how this and other incentives will apply to your present and future solar panel system costs. That knowledge is subsequently how you will plan and determine whether and how much financing is right for you.

Solar financing through existing credit cards or credit lines

Most Americans own credit cards and many of those are able to cover the costs of a smaller or minor home improvement project. Your existing credit card is mostly an obvious choice for financing solar panel installations because it’s readily available and you already know its ins and outs.

On one hand, swiping it for your home improvement project is easy and requires little extra work. On the other hand, credit card purchases could quickly amass and if you can’t pay the amount back before it kicks into the next payment period, you could be stuck paying interest on that purchase. Quick and easy could be attractive in the short term, but be sure the purchase fits into your budget (and your personal cash flow) before pulling it out of your wallet. While an unpaid balance or interest rates on any type of debt are not good for your credit score or personal financial health, ones tied to your home could affect your access to it. To best protect your home when considering using it for financing solar panel systems, be sure to consult someone you trust, ideally a financial expert or guide. A local and experienced contractor should be able to recommend financial institutions with experience in the field.

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Solar financing through federal housing loans

The Department of Housing and Urban Development (HUD) oversees private loans specifically aimed at home improvement and insures them up to $ 25,000, incentivizing lenders who might be assessing whether to lend a homeowner like you money for your project.

Since the government is involved, you’re likely looking at a lower interest rate than you would through a private loan or one through your contractor. And options from which to apply for a Title I abound, including banks, mortgage companies, savings and loans associations, and credit unions. Just ask your place of choice whether they’re approved to make these loans and they should be able to provide written certification to prove they’re qualified.

Notably, these loans cannot be applied to houses which were built less than three months before or occupied for less than three months. In other words, this is not intended for brand new houses. Additionally, if the loan amount requested is higher than $ 7,500, it “must be secured by a mortgage or deed of trust on the property,” so you’re again borrowing against the value of your existing equity. This is not necessarily a negative but it is something to keep in mind.

Solar financing through property-based loans

With a relatively good credit report and financial history or by simply leaning into a home you own, loans based on the property itself are likely the most useful type of loan for a home improvement project, but they require substantial planning and guidance. Be sure that the cost of your solar panel system installation is worth this type of loan.

Having said that, one of the results of a solar panel project is an increased home value, therefore you’ll see a return on the investment. And while all home improvement projects present some form of investment, ones in the value of your home are longer term and yield larger returns. If the improvement itself seems lucrative enough, it might be worth a home equity loan or otherwise refinancing your mortgage. Of course, a loan against the value of your home or your equity puts it on the line.

Solar financing directly through a solar contractor

The most efficient option when it comes to financing for solar panels is the person or company that brings in the panels and does the installing: your contractor. They have the most intimate knowledge of precisely what you need and the amounts needed to borrow to cover it. They also might offer you incentives to finance through them, from discounts on the work itself to lowered interest rates (if any at all) on the loan itself.

However, opening up your credit line to your contractor could result in less than savory practices. Some contractors who know how much you’re able to pay back might use that information in determining how to advise you about where to invest it, from products to services and into upselling you for more than you asked for or need. It might not even be malicious. It’s difficult for any organization that provides a service or product and the financing of those projects to completely separate the two. While this behavior is not necessarily typical, you should only consider financing a solar panel installation project through an experienced contractor whom you personally trust.

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Anything you share with a contractor is sensitive, of course, whether you finance completely outside of their suggestions or offers or not. It’s paramount that your contractor, the largest and most immediate benefactor of your financing (since they’re getting paid) is someone with local expertise and a history of trust. While we cannot lend you money, we are able to recommend the best contractor in your area and for your specific needs.

Modernize’s content is intended for informational use only. We make no representations to the accuracy, completeness, correctness, suitability, or validity of any information on this site, and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. All information is provided on an as-is basis. It is the reader’s responsibility to verify their own facts. By using our website, you are accepting the practices described in this Privacy Policy. Please review our Terms of Service for more.

The post How to Begin Planning For Solar Panel Financing appeared first on Modernize.

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Average Solar Panel Dimensions and Sizes

Solar panels used for residential projects generally come in a standard size, which meets the needs for most homeowners because they fit on most roof sizes and produce enough energy to considerably lower the electric bill each month. Of course, if your roof is irregularly sized, your solar contractor may be able to help you find alternately sized solar panels or install them on your land instead of your roof.

Below is a chart of ten of the most common brands of solar panels and their dimensions. Your solar contractor will be able to tell you the best solar panel model for your project.

Average Residential Solar Panel Dimensions

Average Solar Panel Dimensions

Different Solar Panel Sizes and Dimensions

The average dimensions for solar panels are 65 inches long by 39 inches wide, with the two exceptions:

  • Here you can see SunPower Corp’s E-series solar panels are smaller, making them a great choice if you have a smaller home or don’t need to convert as much solar energy into power for your home.
  • First Solar’s panels are a good option if you have more space to hold solar panels— like a large roof— or plan on installing solar panels on your land instead of your roof.
  • The depth dimensions vary a little more widely than the length and width because they are impacted by the base of the solar panels and any mounting equipment installed underneath the solar panels.

The reasoning behind having most solar panels be about the same size is that it creates an industry standard. That means that you’ll know what to expect, in terms of potential power, from a solar panel of a certain size. This also makes it easier to know how many solar panels you will need, or how many solar panels fit on your roof.

Find a Reliable Solar Installer

Finding a reliable and trustworthy solar installer is your first step in powering your home with solar energy. A knowledgeable contractor will help guide you through the process, answer questions about options, and ensure that you maximize both the immediate benefits of and future return on your solar panel installation.

At Modernize, we frequently speak to homeowners about their home improvement projects. In our recent interviews, 90 percent of homeowners requested a checklist to help them find and vet contractors. Modernize now offers homeowners a free, digital Contractor Checklist as a simple, step-by-step guide to assist with your solar panel project.

The post Average Solar Panel Dimensions and Sizes appeared first on Modernize.

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Pure Evil and Ben Eine host a panel talk in Brighton

artrepublic are excited to announce the launch of season 2 of our podcast ‘art related noise’ Hosted by Inspiring City, specialising in all things arty and interesting, focuses on bringing some of the most genuine and unique artist interviews from across the UK.

To kick off the new season, artrepublic are celebrating the unveiling of new artworks from Ben Eine and Pure Evil (Charlie) on the walls of the Brighton’s Artists Residence Hotel in style. We’re hosting a four-course tasting menu at The Set restaurant, which will precede a panel talk with Ben and Pure Evil themselves. The panel discussion will be recorded live for episode one of the new season of podcasts from Inspiring City.  After the panel talk, guests will be invited to explore the rooms and the new artwork with the artists. Tickets are £75 per person, including a welcome drink.

Book your place at our panel talk with Ben Eine and Pure Evil

The aim is to bring the admirers of art and the artists closer together, to create the opportunity for open discussion of their works and influences. To be able to meet world-class contemporary artists in such an intimate setting and hear first-hand about their work is a rare opportunity, and artrepublic are very excited to make this happen!

The panel talk will be kicking off with a discussion about street art vs fine art, the influences the two have had respectively on the work of Ben and Charlie and debating their places within our society at the moment. With 25 years in the game, Ben Eine is often regarded as a pioneer in the type space. Innovating the form with his own exploration of graffiti, he developed his unique typographic style that can be seen within our gallery and on the streets of Brighton and London respectively. Charlie was also heavily influenced by graffiti culture, his ‘most important artistic discovery’, one that is still prevalent within his best-known work. The iconic blotch of dripping paint underneath the eye of his muses lends itself to the influence of street art, a trademark that is now globally recognised as his.

The conversations look to get under the skin of the art world and see what makes it tick. Season one featured huge names of beloved artists such as Sara Pope, Jason Lilley and most recently Mark Vessey. We’re excited to see what season two has in store.

Art Related Noise podcast

Tune in for equal parts arty banter, insightful discussion and fascinating facts from two of the leading contemporary artists in the UK!

Download our ‘Art Related Noise’ podcast

 

For more news stories and events visit our Brighton Gallery page.

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U.S. House technology panel heads seeks delay in 5G spectrum auction

Leaders of the U.S. House of Representatives’ Science, Space and Technology Committee on Wednesday asked the Federal Communications Commission to delay a planned radio frequency spectrum auction for 5G wireless communications.


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House Panel Probes White House Plan To Build Nuclear Reactors In Saudi Arabia

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We revisit a classic in this #MarvelUnlimited panel of the week!…

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Senate panel delays vote on nominee to lead immigration agency

The U.S. Senate Homeland Security Committee postponed a vote on Wednesday on whether to approve Ronald Vitiello, President Donald Trump’s nominee to lead the U.S. Immigration and Customs Enforcement (ICE) agency.


Reuters: Politics

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Whitaker says he will not appear before House panel unless he gets guarantee he won’t face subpoena

The House Judiciary Committee on Thursday voted to authorize a subpoena for acting Attorney General Matt Whitaker ahead of his Friday testimony, which House Judiciary Chairman Jerry Nadler said he would use if Whitaker would not answer the committee’s questions.


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SPECIAL NEWS BULLETIN:

http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

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Watch the Context Summits’ global economics panel

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What To Expect During Your Solar Panel Installation

You have done extensive research, decided that solar paneling is a good choice for your home and are looking to hire a great solar contractor. Congratulations! You are now ready to begin the process of solar panel installation. Like any home renovation, the solar panel installation process will vary depending on your home’s unique attributes, so working in tandem with a seasoned contractor will ensure smooth sailing. Read on for advice on what to expect during the entire solar installation, and how to prepare for the installation process.

The Solar Panel Installation Process, Step By Step

In general, home solar panel installation and activation follows this process:

Site Assessment and Design

  • Timeframe: 1-4 Weeks
  • This step begins with an initial site inspection, where your contractor will visit your home to get a better understanding of your needs. Your contractor will then design your solar panel system based on your home’s unique attributes. If necessary, most contractors can also work with you to address any issues that might hinder panel installation, like pruning nearby trees or making roofing repairs.

Permitting

  • Timeframe: 2-8 Weeks
  • Your solar panel designs must now be submitted to your local government for permitting. The process for approval varies from region to region, but never fear: Your contractor should work closely with you during permitting, and will likely be very knowledgeable about your area’s permitting process.

The Solar Panel Installation

  • Timeframe: 1-7 days
  • After receiving approval, your solar contractor can begin work. This includes ordering your solar panels, as well as making sure your roof is structurally sound and free of obstructions. On the big day, an installation crew will install the proper wiring and mounting equipment and then place and connect the solar panels themselves. Depending on the size of the solar panel system being installed, this process can be done within a day.

Government Inspection

  • Timeframe: 2-3 Weeks
  • A final inspection by your local government and/or municipal utility must occur before your new solar array can officially be turned on. An inspector will visit your home to ensure that your solar panel system is properly installed. They may also install a net meter, which tracks production and allows your home to send excess power back to the electrical grid.

Activation

  • Once you receive final approval, you can immediately flip the switch and begin harvesting solar energy for your home.

Factors That Impact Solar Panel Installation

There are several factors of your home’s design to take into account before beginning installation. Solar panels work best on large, rectangular, south-facing sections of roof. Also, mitigate shade cast by trees or nearby buildings, as that can reduce your solar panels’ efficiency.

Last, the type and age of your roofing material is an important consideration. Solar panels can be installed on almost any roofing, but the material itself will determine the mounting system that works best for your home. The material should be sturdy and rot-free. If a roof replacement is necessary, that job can often be completed in tandem with the solar panel installation.

Don’t be daunted by these considerations. A good solar contractor will understand your home’s unique properties and find the right number, size, and style of solar panels for you. Modernize is an excellent place to start your search for a trusted, local solar contractor to partner with for your solar panel installation.

How to Prepare Your Home For Installation Day

You might be wondering how you can physically prepare your home and family for installation day. The good news is that solar panel installation itself is a fairly convenient, hands-off home renovation that requires very little preparation on your part. Small thing to keep in mind include:

  • Work with your contractor to make sure your roof is free of obstructions before installation day. This might include pruning tree limbs or relocating your satellite dish.
  • Solar panel installation can be noisy, so consider how the sounds of hammering will impact your daily routine. For example, small children or pets might be more comfortable staying with family during installation.
  • Make extra space in your yard and driveway for the installation team. Remove decorations and outdoor furniture from the vicinity to allow room for scaffolding. You should also relocate your vehicles, so construction crews can park as close to your home as possible.

Solar panel installation can be a long journey, but it’s one that ends with a significant increase in home value. If you’re interested in reaping the financial and environmental benefits of a solar-powered home, our tools can help you get started.

The post What To Expect During Your Solar Panel Installation appeared first on Modernize.

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Trump panel wants to give USPS right to hike prices for Amazon, others

The United States Postal Service should have more flexibility to raise rates for packages, according to recommendations from a task force set up by President Donald Trump, a move that could hurt profits of Amazon.com Inc and other large online retailers.


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U.S. House panel sets Google CEO hearing for December 5

The U.S. House Judiciary Committee will hold a hearing with Google Chief Executive Sundar Pichai on the Alphabet Inc unit’s social media practices on Dec. 5, the committee said on Wednesday.


Reuters: Politics

SPECIAL NEWS BULLETIN:

http://www.acrx.org -As millions of Americans strive to deal with the economic downturn,loss of jobs,foreclosures,high cost of gas,and the rising cost of prescription drug cost. Charles Myrick ,the President of American Consultants Rx, announced the re-release of the American Consultants Rx community service project which consist of millions of free discount prescription cards being donated to thousands of not for profits,hospitals,schools,churches,etc. in an effort to assist the uninsured,under insured,and seniors deal with the high cost of prescription drugs.-American Consultants Rx -Pharmacy Discount Network News

CHARITY UPDATE:

Click today to request your free ACRX discount prescription card and save up to 80% off of your medicine!

SPECIAL DONATION REQUEST UPDATE:

Please help American Consultants Rx achieve it’s biggest goal yet of donating over 30 million discount prescription cards to over 50k organizations in an effort to assist millions of Americans in need. Please click here to donate today!

Global panel grills Zuckerberg for failing to appear at hearing

Lawmakers from around the world on Tuesday excoriated “frat-boy billionaire” Mark Zuckerberg for refusing to testify at their hearing in London — leaving his minions to take a brutal grilling next to an empty chair reserved for the CEO. Politicians from Argentina, Belgium, Brazil, Canada, France, Ireland, Latvia and Singapore converged at the British Parliament…
Business | New York Post

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