Hey Homeowners - Go Solar and Save Money

Trying to cut costs and still be eco-friendly? For homeowners, there's many options, but is it worth it to spend the money now to save the money later?

According to a recent survey by TD Canada Trust, 91 per cent of Canadians know that using green energy will reduce a home's impact on the environment, but less than five per cent of homeowners have considered and installed solar panels in their homes.

The survey respondents said that although 33 per cent have considered solar energy, the cost is the main deterrent.

TD Canada Trust's Chief Environment Officer Karen Clarke-Whistler likens solar power to hybrid vehicles, saying that 10 years ago, cars using alternative sources of energy were a novelty. Currently, 47 per cent of Canadians are aware about the options that solar energy can provide homeowners, for example:

- solar energy can reduce a homeowner's dependence on the grid, and reduce bills
- in some provinces, excess solar energy not used by a homeowner can be sold to local utility companies
- solar panels will increase a home's value
- solar panels need very little maintenance and last on average a minimum of 25 years

TD Canada Trust has created Going Green: A Homeowner's Guide to Solar Energy to help homeowners understand how to use solar energy to their advantage.

TD Financial Services has also focused on homeowner's increasing interest in sourcing alternative energy sources, and has created a network of renewable energy installation companies that can work with homeowners interested in solar, geothermal or wind.