Loans for Solar Power Projects in Mississippi
The state of Mississippi is currently offering a pretty good incentive for people to invest into solar panel systems. They have agreed to offer to commercial and industrial groups loans in the amount of $15,000-300,000 and all the while the loans will have a very low interest rate. They have agreed to a rate at 3% below Prime which right now very well could mean an interest free loan.
This incentive was sponsored in part by the United States Department of Energy. The goal of course is to start utilizing renewable energy sources in the state of MS. Often the biggest challenge for anyone to begin a solar energy program is getting over the initial hurdles of the system costs. With something like this in place, it means that you can literally begin financing your system at no cost at all. As long as you are able to pay back the loan within 7 years, that is all that is being requested by the solar program administering these loans.
Additional Federal Tax Credits For Solar
If this low interest loan was not enough reason to get started. Everyone currently benefits from the federal tax credits and Department of the Treasury grants for solar. This is an enormous advantage for someone in a state like Mississippi. The main reason is that you can actually use the federal tax grant to help pay for the 7 year loan that is interest free.