Saving Energy by Going Solar - or- 1 step forward, 10 steps backwards
Okay, after another meeting with the expert and 2 sleepless nights, the decision to go solar has been made! The tax credits from the state and federal governments for installing a solar energy system will no be received until our 2010 tax returns are filed. This ruled out using the IRA, and we did not want to use the credit cards, so getting a loan to pay for this won. The company has several options on their loans. We chose a 60 month plan so the monthly payments are within reason, and we made sure there was no penalty for early pay offs. Using this plan allows us to make the monthly payment and put all the money from rebates and tax credits on the principal as they arrive.
At this moment the loan hasn't been used because installation hasn't occurred. I will add the amount of the loan into our debt at that time, (Does anyone need a "spin doctor"?) but the final amount we will pay for the system is reduced by 65+% by tax credits.
goal #1 - going green - solar energy
goal #2 - debt elimination - a work in progress
goal #3 - enjoying the good life - learning a lot of new things!!!
We may not know everything about solar, but we know a LOT more today than yesterday.
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