By: Cody Cooper, Certified Senior Solar Consultant, Yellowlite, Inc.
When I talk to people about solar panels, I often hear them say, “If solar is such a great idea, then why isn’t everyone doing it?” The truth is although there has been exponential growth in recent years of homeowners investing in solar, everyone is not going to be in the best position to invest in solar panels in Ohio. If you are looking into solar for your home, it may be beneficial to first determine if it is a good fit for you considering your current situation.
If you are researching solar, you are likely interested by one or more of these four motivations:
-Solar is a great energy investment for the future.
-Installing solar is a great way to help preserve the environment.
-A solar installation will allow me to be independent from my utility company.
-Cutting edge technology is interesting to me, and photovoltaics are just that.
Once you determine which profile(s) you fit into then it is easier to focus on what matters most when discussing your expectations of renewable energy.
Regardless of why you are motivated to install solar, it is important to determine what is realistic to expect from the technology. A typical photovoltaic installation will provide a home with 50-75% independence, have an annual ROI of 7%, and offset 40-50 tons of coal burnt. Your situation will likely differ somewhat but these are good guidelines when understanding the efficacy of solar power.
Affordability should also be considered when looking into solar. Will your current financial situation be able to support solar? Although YellowLite offers many financing solutions to customers that don’t have the ability to pay cash, if you know that your credit score is below average, or you have had to file bankruptcy in the last year or so you may have trouble getting approved.
Location, location, location! Although harnessing the sun’s energy can be a powerful source of electricity, if your property is blanketed by trees you may not be able to get enough power to make it worth your while. If you have a roof or ground space that you are unsure if shading is an issue, allow a YellowLite consultant to review your property with you. They will be able to quickly determine if your location is accommodating for solar.
Whether you identify a solar electric system as a great way to cut your electric bills or your carbon footprint, it is important to educate yourself on all facets of the investment before making a decision. If after reading this article you are unsure if solar is the right fit for your present situation, please give us a call at YellowLite and we will be happy to help you make that determination.