How To Save Money While Saving Energy

Renewable energy is often in the news. There are stories of cities or towns completely switching from fossil fuels to solar power and innumerable statistics showing how great the environmental impact of using renewable energy can be. To most people, renewable energy seems like a great idea. Why? Because it truly is. 

However what make some people hesitant in making this switch is the fear of solar financing and the expenses that come along with installation. The truth is, investing in renewable energy is becoming more and more affordable for both business and residential areas.

Many companies strive to make peoples’ choice to switch to renewable energy an easy one. Solar financing is a priority for many of these companies. Some even offer loans or other forms of financial assistance to make solar power an affordable decision.

The big and intimidating investment with solar financing is the cost of installation. Many people shy away from the idea of investing in renewable energy due to its initial cost. What many people tend to neglect to consider is how much he or she will be saving on an electric bill over time. According to Clean Technica, in 20 years, states that have invested in renewable energy will have saved tens of thousands of dollars on electricity.

Some individuals may have looked into switching to renewable energy and solar financing in the past and dismissed the idea and never looked into it again based on the cost. Simply put, in recent years, the cost of solar energy has decreased significantly. Currently, there’s no need to worry.

In fact, according to the Cost of Solar site, compared to the cost in 1977, it is about 100 times less inexpensive today. The site shows an infographic presenting the average amount people with renewable energy save each month on their electricity bills. The savings vary from state to state, but there are some places where people have the potential to save over $100 a month by switching to renewable energy. 

Some people may be thinking that the savings sound awesome, but getting to a place where they can really afford the initial installation still might seem like a long shot. This is where assistance with solar financing can be extremely advantageous. Even in the case of getting assistance, there are still people who shutter at the term “loan.” 

Paying off a loan that has helped get an individual an asset that actually helps him or her save money is more realistic than he or she might originally think. Paying off this loan can be very simple with the savings coming from investing in solar energy.

Jordan Lee is a renewable energy writer reporter for Fusion 360, an SEO and content marketing agency. Information provided by Elements Capital Group.