As the leaves change color and the days grow shorter, fall is the perfect time to consider harnessing the power of the sun. Solar energy is not only a sustainable and environmentally friendly option, but it can also lead to significant savings on your energy bills. At Banterra Bank, we offer solar loans designed to make the transition to solar power as smooth and affordable as possible.
Why You Should Choose Solar Energy
Sustainable, renewable, and plentiful—solar energy can help you in multiple ways, including:
- Cost Savings: Solar electricity helps you gain greater financial returns and can possibly lower monthly utility bills. The savings you see are dependent on your electricity consumption, solar energy system size, direct hours of daily sunlight, size and angle of roof, and local electricity rates.
- Increased Home Value: Just like updating your kitchen or finishing a basement, solar panels are viewed as home upgrades, increasing your home’s value. Solar panels may increase your home’s value by $15,000 on average.
- Environmentally Friendly: If you are trying to live a more sustainable, environmentally friendly lifestyle, solar panels are the way to go. Each kilowatt-hour of solar that is generated will reduce greenhouse gas emissions like CO2 substantially. It also reduces water consumption and withdrawal.
- Affordability: Solar panels are more affordable nowadays and taxpayers could claim a tax credit on the cost of solar systems on their income taxes. Additionally, getting a solar loan through a bank like Banterra will help you fund your upgrade without the added stress of paying upfront for it.
- Generate Your Own Power: When the power is out and the lights go down, yours can stay up. Residential solar systems paired with battery storage provide power regardless of weather or time of day without relying on backup power from the grid.
Why Go Solar This Fall?
Now that you know more about why going solar is a great move, here is why you should do it this fall:
- Optimal Solar Efficiency: Fall provides moderate temperatures and clear skies, which are ideal conditions for solar panel efficiency. This means your solar panels can generate more energy with less heat stress.
- Energy Savings: With the shorter days and longer nights, your energy consumption might increase. Solar panels can help offset these costs by providing a renewable source of energy.
- Environmental Impact: By switching to solar energy, you reduce your carbon footprint and contribute to a cleaner, greener planet.
Five Benefits Of Banterra Bank’s Solar Loans
- No Money Down: Start your solar journey without any upfront costs. Our solar loans offer 100% financing, making it easier for you to invest in renewable energy.
- Competitive Rates: Enjoy fixed monthly payments with competitive interest rates, ensuring that your investment is both affordable and predictable.
- Federal and State Incentives: Take advantage of federal and state renewable energy incentives. The Federal Investment Tax Credit (ITC) allows you to deduct 26% of the cost of installing a solar energy system from your federal taxes. Various state incentives can further reduce the cost of your solar installation.
- No Prepayment Penalty: Pay off your loan early without any additional fees, giving you the flexibility to manage your finances as you see fit.
- Lower Monthly Payments: Use your tax credits to lower your monthly payments without the need to refinance or incur additional fees.
How To Get Started
Applying for a solar loan with Banterra Bank is simple and straightforward. You can start the process online by filling out a short form. A Banterra Solar Loan Representative will contact you within two business days to guide you through the next steps. You will need to provide proof of real estate ownership and income verification, which can be easily accessed through public records and your current pay stubs or tax returns.
Make The Switch Today
This fall, take the first step towards a more sustainable future with Banterra Bank’s Solar Loans Program. By investing in solar energy, you are not only saving money but also contributing to a healthier planet. Contact us today to learn more about our solar loan options and how you can start benefiting from solar power.
October 16, 2024 by Banterra Bank
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