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Monday, February 25, 2008

Solar Mortgages?

That's right- a Solar Mortgage.

I know that you might be asking what that is...I know I was. I was reading about issues pertaining to mortgages at a UK Mortgages website. The particular article that caught my eye was this one.

The article talked about how there is now a special type of mortgage offered for buyers who will use the interest savings to invest into putting a solar power energy system into their house. At first I was taken back by that. I had a hard time wrapping my mind around the idea that a lender would actually discount an interest rate but I suppose that there just might be some good guys out there somewhere.

Can you imagine the overall savings to the pocketbook, as well as to the environment, to be able to fully power your house on solar energy and receive an interest rate discount? In my world that would be having my cake and eating it too. If the house was able to take the solar energy and convert it to electricity then that would pretty well eliminate the need for natural gas heat and cooking. And since you wouldn't be dependent on another source for power can you imaging what it would be like to not be threatened by the same power outages that others might be weary of?

Personally, I think that this is a great idea that I would love to see catch on here in the US but we'll just have to see if it ever does. What a way to radically help improve the environment!

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