For both residential and non-residential markets, more consumers are choosing to go solar and buy their electricity upfront at a lower cost than pay the utility's increasing rates. This not only helps them financially, but it also helps the environment. The electricity running most American homes unfortunately comes from non-renewable, polluting sources.
Your choice to go solar is not only environmentally-friendly, but will lower your electricity bill by offsetting some previously sent to the building from the utility. Based on your electric bill savings and the increase in property value from the installation of solar panels, the initial investment is not only returned, but you're guaranteed to make money over the lifetime of the system.
For a standard system, you'll see your summer electric bills go down drastically though those coming during winter months won't have the same drop-off since summer months feature longer days and more conducive temperatures for a solar panel system's energy output. Consider your energy usage as well. If your system is producing more energy than you can use, then your electric meter will actually spin backwards, which means you're sending energy back to the grid. In that scenario, you'll receive "credits" for each kilowatt hour(kWh) of energy sent back to your electric company. In that scenario, your electric company pays you.
What is the cost of electricity from solar?
To determine your solar electric rate, you take the total cost of the solar panel system and divide the total expected energy output (in kWh) over the lifetime of the system. Doing this will give you a solar electric rate around 10 cents or so. If you take your electricity bill and divide the cost of a monthly bill by the kWh you used in that month, you'll get your utility electric rate.
Right now, the average electric rate in the state of Ohio is 12.8 cents per kWh. Based on government regulations and restrictions on obtaining fossil-fuel resources, that average is projected to rise considerably in the near future. This makes going solar a good way to shield yourself from increasing utility rates. You can quickly calculate a price quote and system options with YellowLite's solar calculator.
Considering the savings you'll begin to see from day one, solar panels are a good investment to lower your utility bills. Solar panels for the home also increases property value as the panels are considered an added asset to your home. A U.S. Department of Energy study determined that homes with solar systems sold for a higher rate than comparable homes without one. The amount of increase is based on the size of the system that is installed. Naturally, a larger system will give you a larger increase in property value.
The actual cost of a system does depend on a variety of factors, including location (rooftop or ground mounted), type (grid-connected, battery backup, etc.) and other installation concerns (location to electric panel, type of roof, etc.). At YellowLite, we'll not only help you put together the system that best fits your needs, we'll even take care of everything related to the installation: Permits, inspections, labor, warranty ... If it has to do with your solar panel system, we'll be there to handle it. And don't even begin to think you'll see a hidden fee – everything we do is included in the upfront cost.
So if you plan on buying the best solar panels, cheap solar panels, the most efficient solar panels, even sunpower solar panels for your home solar system, know that solar panels cost less than ever. Solar panels in Ohio, solar panels Columbus Ohio, solar panels Cincinnati oOhio, even solar panels Ontario, even solar panels for your home, your solar panel roof is ready to be installed. Check out our solar panel calculator, even if you want to purchase cheap solar panels.