If you are interested in putting in a small wind system in your home as a form of alternative energy then there are many ways you can get the unit financed. This is a very expensive project and it can be hard for most people to find the money to get the project paid for. Getting the money together is important because you will absorb the costs later in the long run.
One way that you can get the money together for a wind turbine system installation in your home is by refinancing your home to pull out some of the equity in it. If you have enough equity in your home then a bank will be more than willing to finance a project like this because a wind turbine system will increase the value of your home.
You may consider using your retirement funds for financing such a project. Although it may sound insane, you will save a great deal of money on your monthly electric bill and the electric company may wind up buying some of the energy you generate. Another great benefit is the tax credit you can get for installing a turbine system to your home as an alternative energy source. You can use that money to replace what you use from your retirement fund.
The state and local government also offers grants to homeowners and people who are looking to install alternative energy sources. This is a big benefit and you can receive money in the thousands. Check with the local grants that are available to people for alternative energy solutions to see if you might qualify for free money.
As a homeowner who wants to install a wind turbine as an alternative energy source to your home, you should also check with the Department of Energy. This department has a large database that lists the incentives for those who wish to install wind turbine systems. There are various items you may find free such as towers. This may not pay for the cost of installation, but it can significantly decrease your cost.
A personal loan from a bank or through family members is another way that you can get the money together to install a wind turbine system to your home. If you go to a bank you will need to have good credit or assets the bank can secure to be sure they will get their money back. Family members are usually willing to help another person in their family for something like this. It never hurts to ask.
There are many different ways that you can try to get the funding together to install a wind turbine system to your home as an alternative form of electricity solution. These different ways include pulling the equity out of your home, getting a personal loan, finding government alternative energy grants, and working with the Department of Energy.
When you want to take advantage of a great alternative energy source such as wind turbine systems, you should understand that it could be expensive. However, the wind that powers it and eventually over the years, you absorb the cost and save money along the way.
Originally posted 2009-05-16 14:34:12.