Good news!â€”I just noticed that First Hawaiian Bank is offering an “Energy-Smart” loan. This special loan is to finance the installation of solar water heating systems.
As if right on cue, I just wrote an article for the Maui News giving Maui homeowners some tips on how to save on your electricity bill. The biggest bang for your buck is to replace your electric water heater with a solar water heater. This change could reduce your electricity bill by as much as 40%!
As far as I can tell, this program is linked to the Hawaii Energy’s American Recovery & Reinvestment Act, so this program will not be around for long. It appears to be a good deal at 0% APR, fixed for 5 years. The loans vary in amounts from $2,500 – $10,000. And there appears to be no closing costs.
If you are considering putting your home on the market, and you do not have a solar water heater, now may be your chance to make your home stand out from the others. Every bit matters in today’s market.
Contact me for more information.
Read my blogs on Energy Efficiency