Some utilities also offer ways to even sell back the extra power they generate to the grid
Chicago, IL (PRWEB) May 05, 2015
As veterans learn about their options for mortgages, The Federal Savings Bank, a veteran owned lender thinks they should think about the long-term costs of owning a home. In addition to paying their mortgage, there are also the costs of powering their home. To save money, veterans could install a solar power system for their home.
The U.S. Department of Veterans Affairs noted that a VA home loan can not only be used to purchase a home, but also to install energy efficient home improvements.
The following are 3 tips on how to get a home solar system with a VA home loan:
1. Cut your monthly bills
Homeowners who install solar panels could cut their utility bills in half each month, potentially saving thousands annually,. There are options to either lease or own their solar system to save money for the long haul. Some utilities also offer ways to even sell back the extra power they generate to the grid.
2. Improve building performance
A VA home loan known as an energy efficient mortgage could boost the performance of a home through choosing power-saving technologies. According to the Energy Star program created by the U.S. Environmental Protection Agency, veterans could receive between $3,000 to $6,000 through a VA EEM for their projects. Through energy-efficient improvements, homeowners could enhance their home's performance so heating and cooling, ventilation and other systems work as effectively as possible.
3. Price of solar installations dropping
As veterans look at selections for solar systems, they may be surprised that the costs of installing panels are actually lower than they think. The price of solar panels is decreasing over the years as they become a more reliable source of energy.
The Federal Savings Bank thinks homeowners should consider purchasing panels now that costs have declined.
Potential homeowners interested in acquiring a VA home loan can contact The Federal Savings Bank, a veteran owned bank, to learn more about mortgages.