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Category: Solar Energy

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Why is Renewable Energy Important to Me? by Verna Badenhorst

What is “renewable energy?” Currently the largest part of the world’s electricity supply is produced from fossil fuels such as coal, oil, and natural gas. These traditional energy sources hold various challenges including but not limited to rising prices, growing environmental concerns over the climate change risks and a limited supply of fossil fuels.

Current Renewable Energy Landscape

Governments, businesses, and consumers are increasingly supporting the development of alternative energy sources and new technologies for electricity generation. Renewable energy sources such as solar, biomass, geothermal, hydroelectric and wind power generation have all emerged as potential alternatives which address some of these concerns. As opposed to fossil fuels, renewable energy sources are generally unlimited in availability.

One of the most rapidly growing renewable sources of electricity is solar power. Solar power generation has several advantages over other forms of electricity generation: Solar energy does not require any form of fuel to work. Although there is variability in the amount and timing of sunlight over the day, season and year, a properly sized and configured system can be designed to be highly reliable while providing long-term, fixed price electricity supply.

Potential Benefits of Renewable Energy

Renewable energy

Solar power production generates electricity with a limited impact on the environment as compared to other forms of electricity production. Solar panels can be added as the need arises. With more and more technological advances in solar power, it is fast becoming a viable alternative is conventional electricity supply.

The harsh reality of constantly rising energy prices and constant blackouts for the rest of our lives is staring us all in the face. So there has never been a better time to invest in solar energy for your home. With the increasing costs of regular electricity, finding an alternative energy solution is becoming more and more crucial. With the supply of fossil fuels soon not being able to meet the demand it is now time to find a better alternative. With the advances that have been made in renewable energy the cost is no longer prohibitive. And the next time electricity prices increase, you’ll be laughing all the way to the bank.

Financial savings aren’t the only reason why homeowners go solar. There are many benefits of going solar, including saving huge amounts of money on electricity bills, you can add tens of thousands of dollars in tax free equity to your property, cleaning up the environment and supporting U.S. energy independence.

The Federal Tax Credit, which is available in all states, also offers an incredible 30% reduction in solar installation cost. But it shrinks to 22% in 2023. Two years may seem far away, but it’ll be here before you know it. So, the time to invest in solar energy is now.

Solar power is one of the most environmentally friendly energy solutions. With little to no impact on the environment it is the ideal choice for supplying power to homes and businesses. With global warming becoming more apparent every year it’s time now to start making a difference by switching to a cleaner source of power.

With energy costs on the rise, rooftop solar can save you money every month. It puts you in control since the rates for solar don’t fluctuate like they do with utility companies. Instead of making the electricity company richer every month, you can rather invest in your own home.

In a large study, the U.S. Department of Energy’s Lawrence Berkeley Laboratory (https://www.lbl.gov/) looked at the value of homes with rooftop solar. They quantified it based on homes sold across eight states, and over a fifteen-year period.

One of the findings was that home buyers consistently pay more for homes with solar installed. In fact, the homeowners who invested in solar made back at least as much they spent buying the system. Plus, homes with solar installed spent less time on the market.

The bottom line is that in terms of renewable energy, Solar energy is:

  • Inexpensive
  • No money up front
  • 100% Financing
  • 30% Tax Credit
  • Quick ROI
  • Clean, renewable, good for your wallet and good for the planet.

 

Note: This article was written for SUNTEX by Energy Consultant, Verna Badenhorst. Please reach out directly to SUNTEX if you have any questions regarding this article, or the blog post content. If you would like to learn more about the work Verna is doing, feel free to check out her Facebook page, here: https://www.facebook.com/profile.php?id=100087851139652 

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5 Quick Ways to Reduce Your Company’s Carbon Footprint: Part 1 of 3

Now, more than ever, our world is being impacted by climate related mega disasters, due to extreme climate change. We as a whole, need to act quickly to lessen our carbon footprint to save the planet, otherwise there will be dire consequences.

Over the past two weeks, five areas across the United States alone, have experienced flooding that happens once every thousand years. Areas in Dallas, St. Louis, eastern Kentucky, Mississippi and southeastern Illinois have been inundated with historic levels of rainfall. According to the Washington Post, this amount of rainfall usually has a .1 percent chance of happening in any given year; it has happened in five different areas in less than two weeks!

This type of flooding and other massive natural disasters is not uncommon for people to experience anymore. Natural disasters have been gradually getting worse while becoming more frequent as global temperatures continue to rise, in fact the United States experiences the highest number of natural disasters every year.

Carbon FootprintTo reduce the number of natural disasters and lessen their impacts, we need to balance the carbon equation. Per the Paris Agreement, the United States has pledged to eliminate its emissions and work towards capping the global temperature at 1.5 degrees Celsius by the year 2050 before climate change turns calamitous. If we fail to reach this goal the natural disasters happening around the world will be amplified to biblical proportions.

There’s good news though, we as consumers and businesses can help to reach this goal! It will require radical and rapid changes across the entire American economy, but by working together to reduce our ecological footprint we hold the keys necessary to counteract climate change.

According to Seth Godin, best-selling author of The Carbon Almanac, states that “it’s not too late.”  He believes we can start to solve the problem of reducing our carbon footprint with businesses leading the charge in sustainability and ecological innovation and technologies. With businesses spearheading this revolution, consumers will start to follow suite until it’s a normal idea to support companies that are backing green initiatives.

Building businesses that create more demand for carbon-zero products or services is not something that can be accomplished overnight, but there are ways you and your company can quickly take steps in the direction of reducing your carbon footprint. By supporting sustainable causes and ideas, we can all start building a sustainable and hopeful future.

In today’s blog post, we are going to look at the first two ways you and your company can start reducing your carbon footprint!

1. Buying Electric Vehicles

Our first way to help shrink your ecological footprint is to look into switching fleet vehicles your company currently uses from gas to electric, especially if those vehicles put on a lot of miles in a year.

Transportation is a growing source of global greenhouse emissions that is helping drive climate change. A PBS article on global warming states that, “in 2019, 23% of the world’s carbon dioxide emissions came from transportation and contributed to 29% of all greenhouse gas emissions in the United States.”

Not only can switching to electric vehicles cut emissions by 60% over fossil fuel vehicles, but they can also save an average of 1.5 million grams of carbon dioxide! Since electric vehicles do not have tailpipes, they emit nothing when operating, and according to the Environmental Protection Agency, most models can go more than 200 miles on a fully charged battery.

In other great news, EV batteries can now be recycled! The Department of Energy (DOE) recently launched the first lithium-ion battery recycling center, The ReCell Center, in hopes of creating a profitable method to improve recycling rates and reduce the reliance on supplies from foreign countries. Recycling EV batteries reduces the production costs by 10 to 30% along with reducing emissions, waste, and the need for new materials.

Outside of government incentives that lower the price of purchasing electric vehicles, they also have a lower operating cost. The DOE’s Alternative Fuels Data Center states that “the operation and maintenance costs of EV’s averages about 3 cents per mile and they achieve their best fuel economy during stop-and-go driving conditions.”

While some companies don’t need a fleet of vehicles; the ones that do have fleet vehicles should take consideration into moving the company fleet to electric. There are a wide range of electric vehicle options available from your typical run of the mill electric vehicle to off-road EVs, forklifts, mowers, tractors, school buses, and public transit.

If we work towards transforming how we fuel our transportation needs, electric vehicles could reduce global greenhouse gas emissions anywhere from 80 to 90% of current levels by 2050!

2. Installing Solar Panels

The second way to reduce your carbon footprint is to harness the suns energy by installing solar panels. What’s cool about solar energy is that it’s completely renewable and one of the cleanest sources of energy out there.

The best part about shrinking your carbon footprint with solar energy is the reduction for demand of fossil fuels and less greenhouse gas emissions are produced. By going solar, users can eliminate the same amount of carbon emissions that would result from burning over 5,000 pounds of coal each year.

The National Renewable Energy Laboratory (NREL) also found that widespread adoption of solar energy can significantly reduce nitrous oxides, sulfur dioxide, and particulate matter emissions.

Solar energy is becoming one of the fastest growing sources of sustainable energy. According to the International Energy Agency, “solar and wind energy account for almost 10% of total electricity generation.” The U.S. is now the third largest market in the world for solar energy. 23.6 gigawatts of solar were installed in the U.S. in 2021. The United States receives so much solar energy that an array of solar panels in the Mojave Desert could generate a year’s worth of our energy needs in a single day.

In fact, solar power will account for almost half of United States’ new electricity generation this year. At the beginning of 2022, The U.S. Energy Information Administration expected solar generating capacity to grow by 21.5 gigawatts, which would surpass last year’s 15.5 gigawatts of solar capacity additions, with many of these additions in Texas (6.1 gigawatts, or 28% of the national total).

Not only is solar energy great for the environment, but it’s beneficial to its users too! Solar energy is the most affordable source of energy in the world and the coast of solar panels has dropped by 80% since 2008. In December 2016, the cost of building and installing new solar electricity generation dropped to $1.65 per watt; it’s renewable counterpart—wind—was $1.66/watt.

Aside from solar energy being extremely affordable, there are also incentives to switch to solar power. Users can receive 30% system costs back from equipment and installation as a federal income tax credit, along with receiving Solar Renewable Energy Credits (SRECs) by selling any excess energy produced to utility companies.

In order to reach our goal in 2050 set out by the Paris Agreement, almost 90% of global electricity generation needs to come from renewable sources, with solar PV and wind together accounting for nearly 70%.

 

Now that we’ve covered the first two ways you and your company can decrease your ecological impact, come back Saturday for the second portion of this post! I’ll be detailing three and four in how to quickly reduce your company’s carbon footprint!

 

Note: This article was written for SUNTEX by guest writer, Kari Norvell. Please reach out to SUNTEX directly if you have any questions regarding this article, or the blog post content.

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Here’s How to Go Green: 5 Easy Lifestyle Changes to Implement Today

So you want to go green? Living an eco-friendly lifestyle that is both personally rewarding and environmentally viable is all the rage these days and for a good reason. You’ll see your carbon footprint decrease, electricity bills go down, and property value skyrocket. If you’re looking for compelling ways to live more green this year, SUNTEX breaks it down below. 

 1. Start with Your Home

GreenIf you’re shopping for a new home, this is the perfect time to start your eco-friendly mission. Look for specific features in potential homes that will support your sustainable ethos. For example, homes that come with Energy Star appliances are a good sign, as these appliances conserve energy and power. Next, consider the home’s building materials. Are the materials used eco-friendly? For example, pre-cast concrete and recycled steel structures will lower your gas usage while reducing the negative impact on the carbon footprint (you can learn more about how pre-cast concrete helps with carbon foot-printing by visiting Informed Infrastructure). Lastly, look for pre-existing LED light fixtures, which are great for reducing energy consumption.   

2. Go Solar 

 According to Solar Power World, one out of every 600 U.S. homes are installing solar panels every quarter. In addition to reducing your carbon footprint and reliance on depleting resources like fossil fuels, going solar comes with significant economic benefits. solar power can cut down on your electricity bill by half each year, and the government also offers solar tax rebates and incentives if your home is powered by solar energy. For more information on adding solar panels to your home, connect with SUNTEX today. 

 3. Watch That Insulation 

 Be sure to check for drafts in your new home. Drafts are a good indication that your insulation isn’t working as it should, which means you’re using more energy for heating and cooling. Patching up any holes or leaks in insulation will be critical here, but luckily, the fix is simple with a little bit of caulk. You could also spring for a complete renovation to overhaul your insulation system to a more robust, eco-friendly option (if you have a bigger budget). 

4. Green Up Your Landscaping 

Green

Growing a lush, green lawn is the dream of many homeowners. However, traditional lawns are high-maintenance, requiring regular watering and fertilizing. They can also be damaging to the environment, as chemical runoff from lawncare products can pollute waterways. For a more sustainable option, implement eco-friendly landscaping in your yard. Opt for drought-friendly plants or native flowers, add more hardscaping, and ditch the sprinkler system. If you need help pulling this off, connect with local landscapers that get top marks for eco-friendly design and execution. Start by reading online reviews and customer testimonials to find the ideal provider in your part of town.  

 5. Look at Those Small Details

Last but not least, watch out for those small details. It doesn’t quite add up if you’re using solar power but also cleaning your home with toxic and harmful chemicals. Create an exhaustive list of all the products and items you use regularly, and consider more environmentally-sound swaps. You can also cut back on consumption and waste starting by swapping paper towels for reusable rags or ditching plastic baggies for beeswax wraps. Consider powder detergent over giant plastic bottles, and purchase refills instead of buying new hand-soap containers. You can even start composting on a small scale.  

Green

Going green is more than implementing a few strategies around your house. Instead, it is a holistic lifestyle that you will need to practice in all your decisions for it to make a difference. Start by working toward solar power, or update your landscaping to avoid water waste. Implement a kitchen composting system, and change out your cleaning products. The good news is that consistent effort in the eco-friendly department can stack up to real and tangible environmental benefits, so keep on keeping at it!

Note: This article was written for SUNTEX by guest writer, Emma Grace Brown. Please reach out directly to SUNTEX if you have any questions regarding this article, or the blog post content.

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How You Can Keep Your Energy Bill Affordable in the Winter Months

Winter Energy Bill

The winter months bring with them a lot of things. They bring holidays, times of togetherness, and cold temperatures. Along with those things often come some skyrocketing energy bills. Not only does it cost more to keep a home or living space comfortable as the temperature plummets outside, but there are other considerations, as well. The holiday months tend to involve quite a lot of social gatherings, which can also have their own energy-bill-related consequences.

The good news is that many of us experience higher energy bills during the winter because we don’t know how to avoid them. In reality, there are a handful of easy strategies that can help you keep your bill as manageable as it is in the balmy summer sun. Below, SUNTEX explores some ideas you should consider.

Move to a Different Place

This may seem like an extreme measure, but sometimes you may not have a choice. For example, if you live in a poorly insulated apartment and you’re having to pay a high electric bill each month, it might be worth your while to move. Fortunately, there are hundreds of apartments available in Forth Worth, all of which can be searched depending on your budget and the neighborhood that interests you.

Weatherproof and Seal All of Your Windows

The windows are a major source of energy leakage in the house, both literally and metaphorically. They can be hotspots for cracks and intrusions that let in cold air and let out the warm air. The glass in your windows can also be letting out warmth, causing you to need to heat your home when you should not have to.

Try adding a weatherproof film to your windows for higher energy efficiency. This can help them to retain more heat, allowing you to run the heater left often. It’s also smart to do a leak test and run the caulking gun around each of your windows, guaranteeing that they’re nice and tightly sealed against the colder weather. When it comes to keeping warm air in, every little bit helps you avoid running that heater.

Use Solar Panels to Help with Energy Costs

Solar panels are an excellent way to help reduce your money energy bills during those cooler months. Although solar panels can’t help reduce your gas bill, if that’s what you use to keep your home toasty all winter, they can still power everything else, from your electronics to your appliances. If you’ve always wanted to get solar panels for your home but had no idea where to start, get in touch with the pros at SunTex. Our high-quality products and superior services can get you going in no time.

Do a Draft Test

Windows aren’t the only intrusion point for air into the home. Drafts and cracks can form just about anywhere, so do a visual check of your home, both inside and out. Check places like corners, and joints (any place where two materials meet). Look closely at things like baseboards, electrical outlets, door frames, vents, and so forth.

Hiring a professional to do something called a “blower door test” is another great way to find small air leaks into your home. This is a process by which your home will be depressurized on the inside, letting an expert go from room to room, finding tiny cracks and leaks that might not otherwise be visible.

Watch Out for the Bathroom Fan

Believe it or not, your bathroom fan might be causing you some serious grief on your energy bill at the end of the month. While they might not seem threats, these troublesome little devils can actually mess with your energy bill in two ways.

The first is by simple overuse. A bathroom fan can seriously add to the cost of an energy bill, especially if it’s left running when it does not need to run. Secondly, a bathroom fan does a great job of pulling warm air right out of your house, which will only lead to more thermostat and furnace usage.

Finding easy ways to save money on your energy bill doesn’t have to be brain surgery. When those winter months set in, there are a few things just about any homeowner can do to make sure they’re saving as much as possible. Sealing windows, checking for drafts, and keeping an eye on ventilation fans are just a few of the ways to save on that energy bill during the winter months.

 

Note: This article was written for SUNTEX by guest writer, Gloria Martinez. Gloria Martinez loves sharing her business expertise and hopes to inspire other women to start their own businesses and seek promotions in the workplace. She created WomenLed.org to spotlight and celebrate women’s achievements. Please reach out directly to SUNTEX if you have any questions regarding this article, or the blog post content.

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Switching Careers Later in Life? We’ve Got You Covered

SUNTEX logoWith the solar industry on the rise, and many people switching jobs currently to adapt to changes in the marketplace due to the Corona Virus, it may be time for you to consider a new career. What if I told you I knew of an industry that required no schooling, no experience, and would supply on the job training?

It sounds too good to be true, however this week we’ll explore a few positions in the solar industry, and at SUNTEX LLC, that fit that exact description. For a more detailed look at what I mean, be sure to check out our prior blog post on the different possible jobs within a solar company (here: https://suntexllc.com/what-do-you-want-to-be-when-you-grow-up-industry-experts-are-here-to-help-you-find-out/), as well as the following interview from our friends at Ecotopian Careers about what we’re looking for in an employee (here, as well as below: https://www.ecotopiancareers.com/2021/10/12/employer-advice-from-suntex/).

Note: This article was written for SUNTEX by guest writers from Ecotopian Careers. Please reach out directly to SUNTEX if you have any questions regarding this article, or the blog post content.

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What do you Want to be When you Grow Up? Industry Experts are here to Help You Find Out!

Solar Industry It really doesn’t matter if you’re 7 or 57, deciding what field you want to work in can be an exciting endeavor. Whether you’re interested in going to school, or going back to school, or if you’re better at on the job training and hand-on projects, learning a new skill while making money is a win-win.

I discussed the process of becoming a Master Electrician in a previous blog post (check it out, here: https://suntexllc.com/energy-components-electrical-wiring/), and there are a few really strong reasons you might decide to take on this endeavor: 1) the pay is excellent, and 2) you can start “green” as we say in the construction industry, apprenticing for someone with little schooling or experience required, and 3) once you become a Master Electrician, you can dictate your own hours, and decide which jobs you want to take – giving you lots of freedom in the later years of your career.

If you’re afraid of electrocuting yourself however (a valid fear indeed), there are tons of other jobs within the solar industry to choose from! Below I’ve outlined just a few…

 

Sales

Solar companies are A-L-W-A-Y-S hiring more sales staff to learn about the process of installing solar, and how it can save our customers money. The beauty of this position is that it does not require any schooling. Notice I did not say you won’t need to learn anything while on the job (too bad, right?), however it’s definitely something you can learn by doing, and as with any job, the more experience you have, the better you will be. It doesn’t matter if you’ve sold cell-phone batteries or luxury vehicles in the past, if you’ve got any sales acumen whatsoever, or if you just enjoy talking to people, it’s likely you’d be good at selling solar.

Because at SUNTEX we want to make sure our energy consultants and sales staff are experts in training homeowners the ways of solar energy, we spend a little extra time during the training process ensuring that you know exactly what you’re talking about before ever heading to a customer’s home for an energy audit. Unfortunately there are several bad players in the solar market that don’t do this, and the customer is always the one that will suffer for it. We’ve seen it in the past, and do our best to warn others of these types of companies, however because of this insight we know exactly what our team needs to know to be successful in their careers, and we strive towards it con ganas each day.

Operations 

Solar Industry

The operations side of the solar business, which is where my background in solar began, includes the entire process after a sale it made through installation. I’ll do my best not to get too into the weeds here, but the overall process of a solar system installation is as follows: 1) Design & Engineering, 2) Permitting, Interconnection Application, and Rebate Application, 3) Ordering Materials, 4) Scheduling & Executing the Installation with the same design as it was approved by the permitting office, 5) Inspections, and 6) Permission to Operate (PTO), when your system is actually turned-on and fully functioning.

The most important piece of this puzzle is the installations team! In order to install solar, you don’t need any education or experience necessarily, as you will get these with on the job training, however you do need to be prepared to be at work by 7:00 AM (or earlier in some cases), and work in scorching heat in the summer months (since roof-tops are typically about 15 degrees Fahrenheit hotter than the daily temp, see what I mean here: https://sentryroof.com/news/how-hot-does-your-commercial-roof-really-get-in-the-summer/), and colder weather in the winter months.

Of course there are other pieces to this puzzle behind the scenes such as billing and accounting, manufacturing, and customer communication throughout, which is also generally included within the scope of the operations team. So it’s safe to say there are plenty of options to choose from should you decide to work within the Operations division at a solar company.

Tech

Another exciting experience you can glean working in the solar industry includes Information Technology, or more commonly known as IT. Depending on the size of the solar company you’re working for, IT department activities can include anything from building and managing the company website, to manufacturing and testing solar panels and accompanying equipment in a lab (admittedly, this may be nearer to the field of engineering but you get the idea)

It’s important that the entire Operations life cycle of each customer project is tracked smoothly, so you don’t skip any steps and so that you can keep the customer in the loop about what’s happening next, so as a solar IT expert you might also be responsible for building out the Customer Relationship Management (CRM) tools that help you track this life cycle, or any of the other online tools that can help a solar company grow sustainably (including tracking Sales calls and researching new potential markets for solar, or managing customer energy production data to ensure quality service throughout the life of a solar system, to name just a couple more).

Whatever your interest in tech – web development, database management, or integrated systems – there is likely a job waiting for you in the solar industry. Not to mention, I can personally attest to the fact that as this industry continues to rapidly grow and develop easier ways of doing things, there are plenty of new tech jobs opening up each day, and a ton of room for innovation.

Admin

With all of that said, there are people who must keep the ship afloat and running in the right direction, and that includes the administrative staff. People in these positions are like jack-knives, floating from sector to sector and providing help and insight where needed. Because they’re likely responsible for overseeing executive-level schedules and tasks, they have a good line of communication and visibility with company leadership. Communication skills and time management are therefore essential to their every day work, however this also allows for flexibility and diversity in their workload, and the work can often be done remotely as well. If you’re an organized individual and want to learn more about the solar industry – without working on a rooftop during installations, or deep inside of the code designing a software system – you might want to see what Administration positions are available in your area today.

 

As you can see, there really are a myriad of things to choose from. Interested in learning more? Give us a call today and see if you’re the ‘right stuff’ for SUNTEX!

SUNTEX Careers Page: https://suntexllc.com/careers/

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Is Sunlight Financial financially Smart?

Sunlight Financial

In a previous blog post I talked a little bit about the benefits of Sunlight Financial, a company that has grown significantly in just a few short years from being an idea, to being a publicly traded fortune-500 company (check it out here: https://suntexllc.com/big-news-from-our-own-back-yard/). However this week we’ll dig a little deeper and really explore what sets Sunlight Financial apart as a solar, and home improvement lender.

For starters, Sunlight Financial was founded in 2014 by insiders of the solar financing industry: Neil Auerbach and Wilson Chang (https://www.hudsonsustainable.com/sunlight-financial). According to Hudsonsustainable.com, “As the pioneer of solar PPA financing while leading Goldman Sachs’ renewable energy business over 15 years ago, Neil understood firsthand the complexity associated with leases and PPAs, particularly as applied to single family homes rather than large utility scale systems. Neil and Wilson envisioned that a simpler consumer loan, secured by the solar system, would be a far superior means of facilitating mass adoption of residential solar in the US, helping consumers to switch to solar to save money and reduce carbon emissions” (https://www.hudsonsustainable.com/sunlight-financial).

SunlightThis means that when you work with Sunlight Financial, you’re working with some of the founding fathers of the solar loan programs we see today. They’re well-versed in the subject, and know what they’re talking about when it comes to these types of financial packages, because they’ve got decades of industry experience!

Similar to GoodLeap (who we explored in yesterday’s blog post, here: https://suntexllc.com/loanpal-goodleap-and-everything-in-between/), Sunlight Financial is also publicly traded. This means that all those same benefits we discussed before – surpassing market barriers and finance-market scrutiny – apply to Sunlight Financial as well.

Additionally, Sunlight Financial was one of the first solar loan companies to include other types of home improvement projects as well, which shows their flexibility, as well as their general understanding of the market. Not to mention, and perhaps most importantly to our customer base, Sunlight Financial has made strides in the industry in assisting non-native English speakers – check out more information on that, here: https://www.solarpowerworldonline.com/2021/03/sunlight-financial-now-offering-residential-solar-loans-in-spanish/.

Financial

One key difference from Sunlight Financial is that while they have one of the easiest processes for both customers and installers to follow when installing and financing solar and other home improvement projects, they do have slightly higher requirements for acquiring said loan. For example, they’re looking for home owners with at least a 650 credit score before moving forward, so if you’re not quite there yet, this may not be the loan program for you. That said, if your credit score is 650 or above, they’re an excellent option and provide some really nice incentives, in addition to their easy-to-follow recipe for financing your home improvement project.

Because they’ve been doing this for a while, their method is like clock-work, and they have a very simple user-interface to help you out as well as you go through the process of installing your project – but don’t take my word for it, check out what Yahoo News had to say about them: https://www.yahoo.com/now/sunlight-financial-enhances-financing-solutions-123000896.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAABpURMX2rURPJIOylgbJe6XI_8jKVXGkq6pr5ztIfAFis4Lufdll9GaHWdr34gPlVU8zrvyI5qhGSW3zk4XNaMLlcMKss4uuyDpQYaHfux4sDCGBQzYExvXmth4zecr8ppTRFSDvKHssmcx2cHN2SJ9tcCenI6f7CI0IU-kVqent.

Is Sunlight Financial right for you? Call us today and find out!

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goodleap-gradient-1-5x Logo

LoanPal to GoodLeap, and Everything In-between

LoanPal

One of the beautiful things about financing your solar project with a solar lender, versus a more traditional bank loan, is that they’re completely familiar with the process! You’re not answering too many questions from the onset about what this project is, how it will work, how long it will take, or the potential benefits to your home equity, because all of that is already baked into your solar loan. Well, thankfully there are plenty of options to choose from within that specific financial market, and each has their own competitive advantage over the other, based on your specific need.

GoodLeap

Today’s post will focus on the company formerly known as LoanPal, GoodLeap. Before we get into the details however, let’s explore this brand change a little more, so those of us familiar with the original name can start to familiarize ourselves with the new one. According to Bloomberg’s article published back in June, “Loanpal, one of America’s biggest solar-loan providers, has renamed itself GoodLeap as it expands further into the broader market for sustainable home upgrades” (https://www.bloomberg.com/news/articles/2021-06-02/solar-financier-loanpal-eyes-home-greening-market-with-new-name).

This seems fairly straightforward, and is actually on-point with several other solar loan providers who have made the same move in recent years. What this means, is that instead of looking for options to finance your solar project exclusively and then seeking other means of financing for smart home upgrades and other home improvement projects – such as geothermal heating and energy-saving window upgrades – you’re now able to bundle these projects together and tackle them all at once, with the exact same loan!

MoneyNow, what separates GoodLeap loans from the pack? Well, perhaps most importantly, these loans allow for a slightly lower credit score – just 600 to be precise. Of course, the higher credit score the better, however GoodLeap has taken the helm of helping home-owners with slightly below-par credit scores go solar (and finance other home improvement projects), even without perfect credit. It’s always important to note however that this could impact your interest rate, so be sure to pay close attention to that number when reviewing your home improvement financing options.

Another notable difference in GoodLeap, which is becoming more prevalent in the marketplace as other home improvement financiers look to diversify their funding, is that they are now public! Check out the following articles to learn more about this: https://www.prnewswire.com/news-releases/goodleap-closes-800-million-investment-round-led-by-msd-partners-along-with-bdt-capital-partners-and-davidson-kempner-301398970.html and https://www.bloomberg.com/news/articles/2021-04-08/solar-financier-loanpal-is-said-to-plan-ipo-as-soon-as-this-year?utm_source=twitter&utm_campaign=socialflow-organic&utm_content=business&utm_medium=social&cmpid=socialflow-twitter-business. What does this mean for you? Well, it means you’re likely looking at a very strong partner, with a strong bottom line as well – meaning that you can trust your loan will likely not be lost or forgotten, should the bull market on solar change in the near future. Publicly traded companies are heavily regulated as well, so you’re dealing with a company that has faced heavy scrutiny and still out-performs competitors year over year.

What home improvement loan options are available to you? Find out today by giving us a call at the number at the top of this page! We’re happy to help you learn more about your financing options and which home improvement projects will save you money and energy costs. Call us today!

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Let’s Talk Financing: The Positives and Negatives to Home Improvement Loans

FinancingWhen you’re looking into financing a solar, or any home improvement project – whether you go with an experienced solar financial partner like Loan Pal/GoodLeap or DIVIDEND, or a HELOC loan from your trusted bank, or as a gift from your rich Uncle – it’s important to feel confident in that institution so you know your investment is protected.

There are lots of options to choose from, but to help you with this decision, SUNTEX has partnered with a few of the best companies in the industry, including: LoanPal – now known as GoodLeapSunlight Financial, and Sunnova. This week, we’ll explore these options (and more) in a little greater detail.

The Future is Solar, No Contest

DOEThe only thing we need to be talking about today…

I’ll keep this post fairly brief, in hopes that you read the U.S. Department of Energy report using the link below. This resource summarizes what you need to know about the future of the solar energy market and how it applies to you, particularly your pocketbook.

If you’d like to learn more about the Department of Energy, feel free to check out our previous blog here: https://suntexllc.com/department-of-energy-doe/.

The main idea of today’s report? Future of Solar

The study shows that by 2035, solar energy has the potential to power 40% of the nation’s electricity, drive deep decarbonization of the grid, and employ as much as 1.5 million people—without raising electricity prices” (https://www.energy.gov/articles/doe-releases-solar-futures-study-providing-blueprint-zero-carbon-grid).

Let’s unpack that statement: Currently, solar power produces less than 4% of the nations’ power. It is an economic alternative to grid-only energy generation, for several homeowners already, however improved battery storage is absolutely needed in order to really prepare for hurricane season.

So, whether or not you care about decarbonization is up to you, but given US’ collective demand for electricity-powered items such as refrigerators and AC units – particularly in the countries hottest, and warming areas – solar energy could be your personal solution to ensuring your family’s safety, and longevity. Check out the full report to see just what I mean (here again for reference: https://www.energy.gov/articles/doe-releases-solar-futures-study-providing-blueprint-zero-carbon-grid).

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