Home Financing : An Alternative For Homeowners

933 Words Aug 20th, 2015 4 Pages
Home financing has been around since the early 1980s and it is used in 22 states. Most of the programs are small, target efficiency upgrades in residential sectors and funded through electricity companies. Home bill financing is a normally a loan by a customer for energy efficiency retro fitting, and it is repaid through the consumers monthly bill. It is can also be used to finance solar panels, and wind turbines. Home bill financing is an alternative for homeowners who cannot afford the initial costs of energy efficiency’s upgrades. The goal is for the energy savings to completely offset or exceed the size of the monthly loan payments.
Benefits
Home Bill financing can be good for both energy producers and energy consumers. It benefits consumer because it decreases their costs, makes homes feel more functional, increases satisfaction with their energy companies or Co-ops, and provides financing for customers who cannot afford upfront payments or have bad credit. It is good for the utilities because it lowers demand costs, increases member’s satisfaction, increases energy efficiency which helps states handle the regulations put forth by the clean power plan and is cheaper than new energy generation, and it delays or eliminates the need to build new power plants.
Home Financing is good for the local economy because consumers have more money to spend, and it increase the demand for people to install and maintain energy efficiency improvements or renewable energy generators.…
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