Renewable Energy for Low-income Rentals

by ElementsCapital Group Renewable Energy Financer

Renewable energy is often considered an expensive way for individuals to bring renewable energy to their homes. With solar loans this cost is easily manageable and the innumerable benefits of solar are manifest.

Private homes and business complexes are the current primary recipient of the benefits of solar power but nonprofits are now pushing for another kind of building to become solar powered. With help from professional solar financing companies all kinds of buildings and complexes can reap the benefits of solar at a price anyone can manage.

Solar for Low Income Rentals

Multiple non-profit organizations have come together and compiled a study of the benefits of solar on low income housing units in California. The project was analyzed using current market data and the most relevant information and numbers possible.

The ultimate conclusion of the study was that with the help of solar power building owners would quickly recoup the costs of installation and the electricity bills would nearly disappear.

In this case the tenants may not see a change in their personal electricity bill but the community, as well as the tenants would still benefit. Besides the general electricity used by tenants there are still several other parts of a living facility that require electricity.

The elevator, handicap access doors and lighted parking lot all require the use of electricity to run. Lights in the parking lot means lower crime rates not just at the complex but in the surrounding areas as well.

In this study the non-profit groups determined that they could not only save money on electricity with solar power but they could save more money in other places with solar storage. Energy storage and solar power in one place could mean thousands of dollars of savings and massive community benefits.

Solar loans are available to projects such as these who need the initial financing to get the projects off the ground. Though it has not been determined if these solar powered complexes will come to fruition, there are solar loans and non-profits waiting to help this idea become a reality.

Maddison Driggs is a renewable energy writer for Fusion 360, an SEO and content marketing agency. Information provided by Elements Capital Group. Follow on Twitter.