New Online Tool Helps Homeowners Find Solar Savings
New Fed Mortgage Corp., a multi-state residential mortgage lender, is the latest financial institution to partner with with NRGTree to link with “Own My Solar”. This innovative online tool allows homeowners to quickly determine in a few minutes the economic viability of potential savings of owning a solar energy unit that is custom designed to their home.
NRGTree is a Massachusetts based technology company that connects property owners with lending institutions and solar installers. Their Own My Solar platform provides homeowners a convenient online and anonymous experience to understand if buying solar makes sense for them. Homeowners enter their address, and an estimate of monthly electric utility costs. The system calculates an average cost to install solar and the potential utility savings the home can experience.
Unlike leasing solar, purchasing solar enables the homeowner to keep all the federal and state incentives, substantially reduce their residential energy costs and significantly increase their home value. The average Massachusetts household paying $100.00 a month for electricity can save an estimated $35,900 over the next 20 years, or almost $1,800 per year. What’s more consumers are willing to pay about $15,000 more for a home with rooftop solar panels.
New Fed Mortgage, locally based in Massachusetts has specialized in residential retail mortgage lending since 2001. Licensed in seven states on the East Coast, the company offers a wide array of financing options along with state housing programs.
New Fed Mortgage President, Brian D’Amico, commented “I recently learned about this innovative green energy program and I’m excited to share the environmental and financial benefits of going solar.”
Read more about home solar power.