Thinking about going solar?

It’s hard not to think about going solar as you see home after home on your block adding solar panels to their rooftop. The big question is, “Should you lease or should you buy solar?” John Farrell with the Institute for Local Self-Reliance has studied this question in depth and concludes, “So both are a good deal from the standpoint of saving money, but ownership is about a 50 percent better deal.”

Here’s how owning verses leasing adds up

  • Homeowners can still take advantage of a substantial 30 percent tax credit when you purchase your solar system. If you lease, you lose out on the tax credit. Speak to your financial advisor or accountant to learn more
  • Owning your solar PV system has the potential to add significant value to your home
  • You’ll receive deeper savings on your energy bill when you own
  • Having lower energy bills frees up cash to focus on paying off higher interest loans and outstanding debt

TCU can help you purchase your solar system so that you can take full advantage of all the advantages of ownership. We offer affordable Energy Loans for solar and more.

TCU can help you purchase your solar system so that you can reap the benefits and all of the advantages of ownership. We offer affordable Energy Loans for solar and more.

Our Energy Loan allows homeowners to borrow up to $35,000 with generous terms of up to 120 months for loans of $1,000 to $15,000, and terms of up to 180 months for loans from $15,000 to $35,000. These loans may be used for energy-related home improvement projects including solar, installation of a new furnace, an air conditioning unit, dual-pane windows, energy efficient appliances and more. Best of all, you don’t need to use the equity in your home because this is not a home loan product.

Stop by a branch, visit us online at www.traviscu.org/energy-loan or give us a call today at (800) 877-8328 and we’ll give you something to smile about next time you open your electric bill.

Energy Loans

 


* APR (Annual Percentage Rate). Loan rates are based on applicant’s credit history and other underwriting factors. Borrower must provide copy of valid purchase order or invoice for qualified energy-related home improvement project. Energy loan is available only for purchase and installation of new furnaces, air conditioning units, solar panels, dual-pane windows and Energy Star-rated appliances. All loan rates are subject to change daily without notice. This is an unsecured loan and is not associated with a home loan product. Payment per $1,000 balance is based on APR. Payment example may be lower or higher depending on your credit history and other underwriting factors. For example, the payment per $1,000 is $11.61 for a term of 10 years (120 months) at 6.99%. The payment for a $20,000 loan with a 10-year term (120 months) at 6.99% is $232.14.