Grants Renewable Energy Solar Power Energy Generation Guide
Grants Renewable Energy Help You Buy New Technology
By J K Hellios
For years, state and federal grants made it possible
for ordinary citizens to afford some of the newest (and
most expensive) technology. Often people want to reduce
their carbon footprint, make the transition to energy
independence and do something to benefit society, but
they simply cannot afford it.
The cost of solar designs and alternative wind energy
are still fairly high, although it’s estimated that
eventually prices will come down and subsidies will
no longer be necessary. For right now, grants renewable
energy can help pay for new heaters, solar panels, roofs,
appliances, windows and more.
Up To 35% Of The Resources Renewable Energy Cost
Of A Project
Rather than approve outright grants renewable energy
checks, state and federal governments often like to
offer tax rebates instead. However, House Bill 473 provides
money up front, rather than after-the-fact tax credits.
The new measure could pay for up to 35% of the resources
renewable energy cost of a project or as much as $100,000
to $500,000, depending on the technology.
Federal grants are also available for up to 30% of
a project’s cost, making the total subsidy 65%. So if
business renewable energy was something of interest
to a business owner, he or she would only have to pay
35% of the cost to install turbine wind energy or solar
energy sources.
Must Meet Certain Technical Requirements
Before beginning on an ambitious generators wind power
project or a solar designs project, it’s important that
homeowners read up on the grants renewable energy stipulations
first. Some awards mandate that the new systems meet
certain technical requirements, perform to specified
standards or are endorsed by a certain program.
For instance, many of the appliance grants must be
for products with the "Energy Star" logo.
Some grants offer money for purchases made several years
back as well, so it’s important to note the date of
the purchase and also to keep applicable receipts. To
find out about federal grant opportunities and requirements,
citizens are urged to check out www.grants.gov.
Loan Programs For Renewable Energy Upgrades
In addition to state/federal grants renewable energy
programs, there are resources renewable energy loan
programs that help individuals make biomass, hydro,
geothermal, solar or wind purchase investments too.
These loans may come from banks or the state government
and offer reduced interest rates on money borrowed explicitly
for energy upgrades.
Some interest rates may be as low as 0% if the money
is repaid in 7 to 10 years. Businesses can also be assisted
by energy loans. For example, if an energy audit reveals
a business owner needs to pay $280,000 in upgrades by
California renewable energy standards and the bank is
offering a five-year 9.5% loan, feasibly a loan program
could bring the interest rate down to 5%, thereby saving
the investor $36,000 in interest.
Lastly, Energy Efficient Mortgages allow homeowners
to qualify for larger mortgage loans if there are wind,
geothermal, hydro or solar energy sources on the property.
About the Author:
J K Hellios has written a number of articles on solar
power and renewable energy including Solar
Powered Homes, Solar
Powered Lights, Solar Powered
Cars.
Keep a lookout for more articles available on this website
soon.
Little Known Wind Power Facts.....
Did you know that it is entirely possible for you to
use the wind, to power your home? Yes, it may be expensive
initially but in the long run it may dramatically cut
your reliance on electricity or fossil fuels for cooling,
heating or running your home.
It is definitely something you need to think about.
And while the concept of wind energy may feel foreign
at first, it is the best solution to the Earth’s problems.
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