Because Hawaii is blessed with so much sunshine, more and more people are turning to solar and photovoltaic systems to generate clean electricity and save a lot on their electric bills at the same time. How can financing help?
There are two popular types of loans that can help people finance clean energy. First, if you're a home owner with equity in your home, you can get a home equity loan or line of credit secured by your residence. Or, you can open a personal line of credit which will not be secured by your home. Either way, you can use that money to finance a photovoltaic system to provide electricity or a even solar water heater, both of which will reduce your carbon footprint and electric bill.
So by borrowing money and investing in going green, it can save you money in the long run. Long term, you can get back what you invested in solar or PV through what you save in your electric bills. So it's a win for you financially and a win for the environment.
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