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Solar panels: A home improvement project that pays for itself

Posted on Monday, February 11, 2013 at 6:01:21 PM

As the incorporation of green technology into residential structures becomes more ubiquitous within the national housing market, many homeowners may begin to look to make improvements. Solar energy has a number of advantages over using fossil fuel, and though startup costs can be intimidating, residential financing firms can help more consumers realize large savings after installing the technology. 

One of the most alluring aspects of solar energy is its wide abundance and availability. Any house in an area with consistent sunshine can benefit from fixing a number of panels to the roof, and since they are reducing dependency on their state's electrical grid, homeowners can pay less for the energy they consume. In 2009, Congress passed the Federal Stimulus bill, which included a federal tax credit of 30 percent for those buying materials and paying for labor costs to make eco-friendly updates to their homes. 

Along with decreasing individuals' power bills, a rise in the popularity of solar technology can provide a jump in job creation. Positions associated with the solar industry include design, research and development, manufacturing, installation, policy and maintenance jobs.

Homeowners looking to increase the value of their homes and cut their utility bills might want to consider incorporating this green technology. Home Loan Investment Bank has a wide range of home improvement loans can can help homeowners finance construction.