Evergreen Credit Union Blog

5 Benefits of Solar Power

Dated: May 31, 2018

solar array loans in wisconsin

There are two things everyone can appreciate in life: saving money and saving the planet! A rooftop solar array is the perfect solution to do both things. Check out five reasons why solar power is a great choice:

1. Reduce Or Eliminate Your Electric Bill

Solar arrays generate electricity where they are installed. Depending on the type of system installed, the energy produced may either be sent back to the grid through net metering or stored on-site for future use. As you only pay for electricity you purchase from the grid, you will begin to lower your electric bill as you purchase less and utilize your own power more. Savings depend on your annual electricity usage – the less you use, the more your array may store or sell back.

2. Works In Rain, Shine, Sleet Or Snow

The big appeal of a solar array is the ability to produce energy as long as the sun shines. While a cloudy day may decrease production, if you keep your panels free of obstruction (such as snow or dirt buildup), they will continue to capture sunlight and generate energy. Net metering practices and on-site storage capabilities will provide you with energy at night after the sun has gone down.

3. Low Maintenance Costs

The more moving parts a machine has, the more likely it is to break down or require servicing. Solar arrays have no moving parts; the only maintenance they are likely to need is meter servicing or an occasional surface cleaning to avoid panel obstruction. However, no product is infallible, so make sure to do your best to monitor for malfunctions or unexpected changes in your electricity bill. Panels may degrade as they age, causing a slower conversion rate and decreasing payback.

4. Maximize Unused Real Estate

Solar arrays are perfect for roof mounting if your home has the right pitch and faces the sun. In addition, if you are adding an array to your home, you may qualify for special solar loans like the one Evergreen Credit Union offers, making the financing process painless and easy.

5. Limited Environmental Impacts

While the creation of solar panels causes environmental impacts during the manufacturing process (including the usage of energy and water), once they are installed, they do little to no damage. Solar arrays do not emit emissions that pollute air or water, do not consume resources while producing energy, and, with lifespans that may meet or exceed 20 years, the environmental harm is much lower than other sources of energy such as gas and coal that actively consume and emit.

If you would like to know if your home or building is suited for solar power, visit Project Sunroof for a personalized solar analysis. In addition your state of residence may provide renewable incentives. Contact your solar array installer for more information.

When you are ready, Evergreen Credit Union has the resources to help you secure the loan that fits your situation. One of our knowledgeable loan officers can help you explore your options. Call (920) 729-2999 or stop by to make your appointment today. Membership is open to everyone who lives or works in Outagamie, Waupaca, Waushara, Calumet, or Winnebago counties.

Information valid as of 5/4/18. Terms and availability may vary by lender. Please consult your financial institution for eligibility and rates.

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