Learning where to buy solar panels near me Columbus Ohio used to be a pretty complicated and long process. Today, you can easily find a good seller by visiting YellowLite. Therefore, you should have a pretty sweet time going solar. Our team of highly independent solar consultants has what it takes to help you understand the different options available to you. Additionally, you can place a request for a free consultation with us.
Once you find out where to buy solar panels near me Columbus Ohio, you might want to learn whether they are a good investment. In most cases, you will learn that solar PV systems are typically marketed showing how you can make money while saving on your electricity bills. Of course, for starters, you will start getting paid for the electricity produced by your YellowLite solar systems.
In this section, we will talk about what you need to consider before you start thinking about solar panels in form of financial investments. Similarly, you will learn about how and when your solar system and panels will start paying back.
Profits and Payback Times
Basically, you can get paid by simply having YellowLite solar systems in your compound and on your roof. This will guarantee you cash payments whenever you generate your own electricity through the use of the renewable technology that we are putting in your hand.
However, you need to understand that there are significant differences between the traditional methods of growing money (such as investments and savings) and installing and buying a solar PV system from YellowLite. It is also important noting that when you generate electricity, you will receive cash in return. One of the great things about these types of payments is that they are actually guaranteed. For anywhere between 20 years and 25 years, therefore, you will receive payments depending on the time you got the YellowLite solar system installed, of course.
The price per kWh (kilowatt) of energy is usually index-linked, however. This means that it will go up with the RPI (Retail Price Index) measure of annual inflation. Similarly, all the proceeds you will receive will be free from tax.
Solar Panel Investments
There are a couple of variables and factors that will affect the earnings and returns you will get from generating solar power using your YellowLite gadgets. These include, but are not limited to:
Inflation is likely to increase the solar energy and electricity generation and export tariffs every year. The target rate of inflation at the moment has been set at 2 percent. This means that you need to use this figure while calculating and estimating what the future tariffs might be.
2. Electric Bills
Whenever the price of electricity increases, this will have an impact on how much you can save on your electric bills. Therefore, the higher the price of electricity, the greater your overall savings will be.
3. Installation Costs
Since the government started encouraging solar electricity generation, the overall cost of installing YellowLite solar systems has significantly reduced. Although one cannot tell whether this trend is likely to continue, one thing is for sure. Should the trend continue, therefore, the rates of return you will get from the solar panels will potentially go up. This means that it will take you less time to repay the initial outlay you had invested.
As you look for information on where to buy solar panels near me Columbus Ohio, you should also note that the money you generate using your panels will only be considered profitable once you manage to recoup the amounts you initially spent on the YellowLite solar systems, including the installation and maintenance works.
Therefore, as you calculate your returns on investment ñ both actual and potential ñ it might also be useful that you consider how much interest the same amount would have generated if you had placed it into a savings account. Then, factor this into your calculations to see how much overall returns you get to make.
Maximizing Solar Panel Investments
Investing in YellowLite solar systems is a great idea. However, you can still maximize on your earning potential by reinvesting all gains you make. A good idea, for instance, would be to consider cash ISAs.
What this means is that if you decide to place the cash you make both from your bill savings and from your generation of electricity, then you will be in a better position to start receiving interest on the earnings. In the long run, you will be able to build up a decent and lucrative savings nest egg that you can use in the future.
The rates on cash ISAs tend to vary from one month to the next. This is why you should check to make sure that you are in the best cash ISA available. Luckily, there are ways to search through the different types of savings accounts available in the market and potential cash ISA deals from different providers. Such research will enable you find the best place to start saving your nest egg.
Paying for Solar Panels
a) Paying Upfront
Once you have information on where to buy solar panels near me Columbus Ohio, you will have to think about ways of paying for the YellowLite solar systems. Presently, one of the most cost effective and, therefore, popular options including the simple act of paying upfront and in full.
b) Loans and Remortgages
Still, you might not be in a position to do this. Consequently, if you lack to money required to invest in your panels upfront, think about getting a loan or remortgaging your home.
However, should you decide to go down this path, take into consideration the fact that you will also be required to pay interest on all monies that you borrow. In some cases, you might also find that the loan repayments will exceed the returns you will get from your solar system.
c) Rent a Roof and Free Solar Schemes
You also have the option of entering into a rent a roof or a free solar scheme.
Other popular options include, but are not limited to getting financing from:
- Traditional banks
- Green Sky Credit
- Admirals Bank
Solar Panels and Property Values
Although YellowLite solar systems have not been around for long, you can still judge for yourself whether or not installing them will increase the value and potential higher sale price of your home.
In general, once you learn where to buy solar panels near me Columbus Ohio, you can generally tell that installing solar PV systems in your property will guarantee comparable increases in the overall value of your home.
Of course, some changes will be required over the lifespan of your solar panels. For instance, you might have to alter the inverter. Similarly, some solar panels in the market are likely to reduce in terms of efficiency. All these are factors that you should consider before you invest in a solar PV system, especially if you are looking to resell your property at a later date.
Interested in learning more about YellowLite’s renewable energy solutions? Reach out to us today to learn more.