Lower Your Utility Bills By Using the Sun
You want to take control of your energy costs. Let the sun help you reduce your bills and help move the Clean Energy Revolution forward.
ecobeco recommends that customers purchase rather than lease solar panels. Why? Most leases today are, frankly, taking advantage of consumers. Leases contain very high implied interest rates that provide extraordinary profit to the banks, with a little of benefit going to consumers. With interest rates at record lows and a 30% Federal Tax Credit, solar has become relatively inexpensive, with systems that last 20-30 years paying back in under 10 years. These systems will also make your home more valuable. So if you have the cash, a solar purchase investment could be a good use of funds because the benefits go to you, not the bank. If you don't have the cash, consider a Home Equity Line of Credit, which can often provide very low interest rates (under 5%) over long time frames, or the Maryland Department of Housing's BeSMART loan program that offers 4.99% unsecured loans over 10 years. With solar leases offering 20 year terms at interest rates at or above 8%, the smart choice is to buy, not lease.
Contact us to learn more about including solar in your energy efficiency and clean energy plans. ecobeco is an authorized provider of the Maryland BeSMART loan program from the Maryland Department of Housing and Community Development.