Fortunately, lenders are now offering more cost-effective ways for you to embrace sustainability. From solar panel agreements to energy improvement mortgages to short-term loans for smaller green changes, keep reading to discover all the green finance deals on offer.

Energy Improvement Mortgages

If you are looking to make eco-friendly improvements to your home, such as more energy-efficient windows, additional insulation, or a better heating and cooling system, an energy improvement mortgage can help you to achieve your goals.

For those that already have a mortgage, you can increase your loan amount by refinancing your mortgage to cover the costs of your new upgrades. Although this will increase your monthly mortgage payments, you will recoup this over time through lower energy bills. (If you are age 62+, consider refinancing into a reverse mortgage for the same result)

In fact, by simply installing double-glazed windows in your home, you can expect to save $250-$300 per year. Given that these windows can last up to 20 years, this could save you $6000 over their life span. Furthermore, if you choose to install triple-glazed windows, you can expect further savings of between 5%-10%.

Short-term loans

If you are looking to make a series of smaller changes to your home, which do all add up to significant savings, your best bet may be to take out a short-term loan.

Cashlady offers quick cash loans that can be approved almost immediately, typically lending lower amounts that are paid back within short timeframes.

Small green upgrades that you may want to consider making include:

• Installing LED lights that last longer and waste less energy than standard fluorescent bulbs – save up to $75 a year.
• Fixing any inside or outside leaks – save up to $35 a year.
• Replacing an old toilet with a WaterSense model – save $100 per year.
• Planting shade trees – save $35-$199 a year.
• Purchasing energy-efficient appliances. By upgrading all of your appliances, including your dishwasher, oven, fridge-freezer, and kettles to ones with a higher efficiency rating, you will use up to 40% less energy.

Solar leasing or PPAs 

Did you know that more than 75% of American households have access to third-party owned solar power?

What exactly is this?

Both solar leasing and power purchase agreements involve the solar provider in question paying for and being the rightful owner of your solar power system. They will take care of the system installation, the maintenance, and any repairs that need carrying out.

Solar leasing can be advantageous, as you do not need to pay for any upfront costs to install the solar system. However, the savings you make will be less than if you purchased the solar panels outright, plus the provider is entitled to the financial incentives for going solar.

Alternatively, if you want to purchase solar panels outright, you could consider a home equity loan. Buying solar panels is not a cheap option (you can expect to pay between $10,000 and $30,000 depending on the size of your home). However, they are expected to last for at least 25 years with a less than 10-year payback on the system, meaning you could potentially enjoy 15 years of free electricity.

The post Going Green – Are Green Finance Deals Really Worth It? first appeared on BioEnergy Consult.