Many customers ask, ”How long will it take for my solar investment to pay for itself?” To answer this question, we’ll need to crunch some numbers to help you get an idea of an average solar payback period.…
As time goes on and solar prices continue to drop, the leasing option will become less popular. Here at YellowLite we can help a client structure a loan that resembles a lease in all but name, but the client will still be able to collect the financial benefits of owning the system.…
One of the big drawbacks of determining the system size by number of panels is that there is a range of panel sizes. Typically, the vast majority of panels fall within the 260 – 340 watt range. So to tell someone what the cost of their system is on a per-panel basis may not be the most precise way to determine if they are getting a good deal.…
It should be noted that the typical client has to have over a 650 credit score to gain financing. It should also be said that when you look at the total cost of your project, you can add around a 10% financing fee to your contract cost. That is generally a good rule of thumb for figuring out how much solar will cost.…
In short, we cannot foresee an argument that waiting ten years is going to substantially decrease your installation price. In fact, you are most likely going to lose out on a lot of savings if you decide not to purchase by 2021 (or sooner) and take advantage of the 30% Federal Tax Credit.…
This program is called the HomeStyle Energy Program and it offers a different mode of financing for energy efficiency projects including solar. The HomeStyle Energy Program lets homeowners finance their solar energy installation when they purchase a new home or refinance their current home. Other solar loan options require that homeowners take out a separate home equity line of credit, PACE loan, or unsecured loans.…
Going solar is important no matter how you pay for your panels. More than a million solar installations have been completed as of May, 2016. It is estimated it will take only another two years before America reaches two million installations.…
Anytime you invest money there is a risk which can be large or small or somewhere in between. To compensate you for your risk, an investor expects a return. However, an investor might not get her money back if the risk is too great. That is why we examine the potential risk and reward of solar and compare an investment in solar to other types of investments.…
The cost of your solar energy system is determined by figuring out how much your electricity bill is over the course of a year, determining what percentage of that bill you want to offset, and then designing a system to meet your specifications. That part is pretty straightforward. But once you determine this information, you probably want to know how much solar actually costs for the system size that is designed.…
The standard solar panel is around 15-16% efficient. Our most popular solar panel brand is Canadian Solar which is just a touch more than 16% efficient according to its official data sheet. Some solar panels have a higher level of efficiency, even approaching 23%. In fact, the SunPower panel model X22 series are 22.8% efficient as measured this past February. A higher efficiency panel means that you will be generating more electricity. Premium panels are more efficient and the cost structure reflects that extra efficiency.…
