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Solar Energy Services
1514 Jabez Run
Millersville, Maryland 21108

info@solarsaves.net

410.923.6090

Solar Financing via Maryland’s Be Smart Loan Program

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Residential Solar ,Panels Solar ServiceSolar Energy Services, Inc. recently became an approved contractor with the Be SMART Home Loan Program. This State of Maryland financing vehicle offers unsecured loans of up to $30,000 at a 4.99% interest rate. Aimed towards Maryland residents looking to lower utility costs, improve energy efficiency and add value to their Maryland home. The following solar projects qualify:

Solar Electric (Photovoltaic) Systems

These grid-tied solar systems give homeowners the option of purchasing more than 25yr worth of electricity at a fraction of the cost of their “rented” utility rates. Systems are purchase outright, and are eligible for the multiple financial incentives currently available.

Solar Water Heating (Thermal)

These systems are entirely separate from solar electric (PV) systems. They are most cost-effective for a Maryland family of 4 or more who currently heats their home’s water with electric, propane or oil. They require a relatively small amount of roof space and the upfront investment is lower than solar electric.

What are the Loan Qualifications and requirements?

  • Maryland resident
  • Home Owner
  • Verification of income
  • Credit score over 640
  • Debt-to-income ratio below 50%
  • Completion of a home energy audit

There is up to $30,000 in financing available for eligible homeowners.

What other upgrades qualify for the Be Smart Loan program?

Other qualifying energy efficiency upgrades throughout the home could include: energy efficient roof replacement, geothermal system, air infiltration reduction measures, increased insulation, hot water system improvements, heating systems maintenance or replacement, programmable thermostats, ceiling fans, windows, doors, duct work and energy star appliance replacement.

Can any Contractor perform the work?

Contractors must be listed on the State of Maryland’s Approved Contractor List as found here: http://dhcd.maryland.gov/Residents/Documents/besmart/BeSMARTApprovedContractors.pdf

How do I Apply?

  1. 1. Schedule a solar site visit with Solar Energy Services, Inc.
  2. Submit the Be Smart Home Loan Application along with SES’s proposal of work to be performed
  3. Be SMART will processes your Home loan application. Approval is based on your proposal specifications, satisfactory credit and affordability
  4. Submit your Home Energy Audit from an Approved Contractor
  5. You receive Loan Approval along with the first of two project pay-outs
  6. Upon receipt of payment, your Be SMART Contractor, SES, moves forward with interconnection, permitting and subsequent solar panel installation.
  7. The final payment is provided by DHCD when the work is complete and a DHCD inspector confirms that the work meets specifications

MORE INFORMATION

CONTACT: BeSMART Home Loan Program

Community Development Administration

Maryland Department of Housing and Community Development

E: BeSmartHome.dhcd@maryland.gov​

P: 301-429-7402 ​​​​

Or

info@solarsaves.net

410-923-6090

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Going Solar? Top 10 Things to Consider…

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SES gives the skinny on going sunny

  1. Commercial Solar Energy ,Residential Solar ,Panels Solar Service1. Cut your Energy Losses
    In most homes, heating and cooling accounts for the most energy usage. Regardless of where your energy is coming from; gas, coal, solar, electric, wind, etc. a homeowner’s first consideration is to reduce the loss of incoming energy:
    â€Ē Replace old windows and doors with Energy Star products. This can reduce energy consumption by 7 – 15%.
    â€Ē Seal up any air leaks throughout the house, attic and basement.
    â€Ē Insulate! This blocks air loss in the winter and preserves cool air in the summer.
  2. Consider those Big Appliances
    Refrigerator:
    Keep the condenser coils clean. Keep refrigerator away from oven/washer/dryer and other heat producing appliances. Place with consideration to air circulation.
    Stove: Remember that gas is generally a more cost-effective choice than electric.
    Attic Fan: An excellent way of pushing hot air outside in the day, and drawing cool air at night.
  3. Need a new roof?
    If you think your roof may need repairing or replacing within the next 5 or so years –it may be worth replacing before the solar panels are installed. If you’re on the fence about replacing your roof prematurely, remember that installers such as SES do provide a Remove and Reinstall service where, for a reasonable fee, the panels will be safely removed then re-installed after re-roofing.
  4. Small Bite or Full Monty?
    Just about every solar energy company sells and installs Solar Electric (Photovoltaic) systems. However, solar water heaters are an entirely different type of solar panel and not every solar company installs them. Thus, not every solar company is likely to tout the cost-effectiveness of this mature technology. Solar water heaters require only a fraction of the roof space (and often a third of the cost) that a solar PV system requires. For a family of four, currently using electric to heat their home’s water – solar water heating may provide the biggest bang for your solar buck, providing around 75% of a home’s annual hot water. However, a family of two heating their water with gas may consider investing in a solar electric (PV) system sized for their usage. Insofar as solar electric (PV), many homeowners cover 60 – 100% of their electrical needs from solar. Some choose to offset as little as 25% and opt to add panels as their budget allows.
  5. READ your Energy Bill
    For electricity, your energy bill should tell you how many kilowatt hours you use per year. This is an important number as you generally do not want to install a system that will exceed your annual consumption. Experienced installers can help you assess this, but a good rule of thumb is to divide that number by 1200kwH and that will tell you the approximate max sized PV system you should consider. That will be represented in kW – probably something like 8 to 10 kW if you are an average consumer. If you heat your water with electric, then solar water heating should absolutely be considered first.
  6. Best way to pay for your solar system
    The beauty of an increased popularity in solar is that there are a number of ways a homeowner can finance their project. Without question, whether immediately or over time, Solar Power is far cheaper than your Utility bill.

Payment plans range from No-Money-Down leasing options to initial investments ranging from $2000 – $50,000 depending on your energy usage and type of solar system. Thanks to current financial incentives, many Marylanders receive over 50% of their upfront investment back the first year. Some of our customers have transferred funds from low yield CDs and even borrowed from 401ks in order to fund their higher-return solar investment. Other homeowners have no interest in ROI’s and fund-juggling and simply want a lowered electric bill/carbon footprint. Thankfully there is a wide variety of financing options available.

  • Know YOUR solar energy tax credits, grants and incentives
    Any solar salesperson worth his/her salt will visit your home with full knowledge of the available financial incentives for your state and county. For example, an Anne Arundel County resident has the good fortune of FOUR different financial incentives (for both PV AND solar water heating) that combine to offer a huge discount on their system. Acclimating yourself to current incentives for your county will help the sales process be much more informative for you. Every solar homeowner is eligible for a 30% Federal Tax Credit. Then SRECs (solar renewable energy credits), state grants, county tax credits differ across the region.
  • Solar Panel Placement
    Whether solar water heating or solar electric (PV), a south facing shade-free roof provides optimum conditions for solar panel placement. However, any shade-free roof – including East and West orientations provide excellent rooftops for solar panels. The number of panels installed depends upon system size, roof space and budget. Homeowners with a good amount of spare land may also consider ground-mounted systems, some of which offer solar tracking options where panels are mounted to motorized pole that literally follow the sun, improving solar efficiency by 40 – 45%.
  • How many solar panels on the roof?
    Insofar as solar water heating, a shade-free area of 64 square feet is typical to house two 4′ x 8′ solar thermal panels (sized to provide a family of four with around 75% of their annual hot water load). Most solar electric (PV) panels measure 3′ 6″ x 5′ 6″. So, a roof that is 30′ wide by 14′ from gutter to ridge will fit two rows of 9 panels. An experienced solar designer will get precise roof measurements and ensure the panels are placed in the most space-efficient and visually appealing design.
  • Choosing a solar energy installer
    Of course, the author of this blog would like to gleefully exclaim, “Choose Solar Energy Services!”. However, most educated consumers know that the best way of finding the best fit for an installer comes from shopping around for the popular 3 proposals/estimates. There are a lot of solar installers our there in today’s market. Some considerations:

 

Time in the Business: This matters. Obviously the more systems a licensed installer has installed – the more experience they’ve gained – and the more they’ve refined their installation technique. Just as important, however, is the question of whether the installer will be around in 5, 10 or 15 yrs when perhaps the incentives for solar have declined. An older company is likely to have deeper roots in the industry regardless of current solar trends and incentives. You want your installer to be around for the life of your system, 25 – 35 yrs plus. This narrows the field considerably.

Service Department: Solar Water Heaters require a 3 – 5 yr simple service visit. Does the installer provide this service?

All Options on the Table: A company who offers both leasing AND upfront purchase will likely lay ALL your options out on the table. This also goes for installers who offer both solar water heating AND solar electric.

There should not be a charge associated with a site evaluation of your home for solar energy. This is a necessary part of the sales process and should take place before the cost estimate/proposal is presented.

Happy Solar Shopping![/vc_column_text][/vc_column][/vc_row]

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