YellowLite

• Payment Options
• Financing Options
• SREC Financing Options
• Warranty Information
• Equipment
• Online Monitoring

Payment Options

YellowLite only offers two types of payment options, which are financing and offering the SREC program.  Unlike most of their competitors, they don't appear to offer any type of leasing programs.  However, they do provide some attractive financing options and therefore, if you qualify for one of their preferred payment options, this might be the perfect solar company for your needs.

Financing Options

YellowLite's website provides their customers with three different financing options.  There is a great infographic that shows you all the terms and requirements side by side for traditional bank financing, using Green Sky Credit or through Admirals Bank.

• Traditional Banks - with this option, you can select the bank of your choice and opt for either secured or unsecured financing. Additionally, you can use the Ecolink Rate Reduction, which is 3%.  This type of financing offers you a range of loan terms, which are generally, 5, 7, 10 or 12-year options.
• Green Sky Credit - with this option you can place the federal tax credit on a same-as-cash 12 months, no interest, no payment plan, which will allow you to take advantage of the 30% federal tax credit now. This will help if you want to pay off your solar system quickly.  There are no equity or mortgage requirements.  This is 100% unsecured financing, up to $50,000, the application process is easy and secure, with no paperwork required.  You will receive a fast approval, usually within minutes.  There are no application fees, no closing costs, and no pre-payment penalties.  Your payments will begin five months after you sign.
• Admirals Bank - with this option, you might be eligible if you are making any of these home improvements: residential solar panels, re-roofing, solar water heating, installing energy efficient windows and doors, residential geothermal heating and cooling, insulation or metal roofing.  You also might be able to apply for a Solar Stepdown Loan independently, or apply to the SolarPlus Loan as a supplementary option.  If you are unfamiliar with how the Solar Stepdown Loan and the SolarPlus Loans work, these are explained in detail on the YellowLite website.  Or you can contact them for more information and a more detailed explanation.

SREC Financing Options

The solar renewable energy credits (SREC's) are tradable credits that when each time your system generates 1,000 kWh of electricity, you will receive an SREC that can then be sold or traded independently from the power. The value of SRECs in any given state is measured by three different factors.  RPS compliance fee schedules, SREC supply, and SREC demand, which are all explained in detail on the YellowLite website.

You can easily monetize your SRECs by using an SREC aggregator, which YellowLite has already partnered with - Sol Systems.  Sol Systems is the largest SREC aggregator in the country and can provide you with reliable financing options customized to fit your needs.  They also offer utility-backed contracts, competitive pricing, quarterly payments, a streamlined registration process and they provide top-notch customer service as well.

Sol Systems has three different offerings that can help reduce your solar project costs anywhere from 20-40%.

• Sol Annuity - this is a long-term solution that provides you with guaranteed prices for your SRECs even when the spot market prices fall. You get fixed quarterly payments for every SREC you produce over a three or five-year term.
• Sol Upfront - this option helps you reduce your out-of-pocket expenses by providing you a lump-sum payment based on the size (kW) of your solar system. After you sign-up, Sol Systems will lock the amount of your upfront payment.  Then after your system has been properly registered, you will get a check sometime within 10 business days.
• Sol Brokerage - this option is a flexible SREC solution that will let you benefit from the risk-reward of spot-market rates with no effort on your part. Sol Systems will monitor the SREC trading platforms and any legislative changes and will then use their market experience to establish a target price for your particular SRECs.  Every quarter you will receive a payment for every SREC that was produced by your solar system.  This payment will reflect the weighted average of SREC sales for the quarter minus the higher of $5 or a 5% brokerage fee.

Warranty Information

YellowLite installations are guaranteed for five to ten years; however, the solar equipment that was installed on your home carries its own product warranty as well and will be backed by the manufacturing company.  However, most solar manufacturer warranties are usually around 25 years.  You will need to confirm the warranty period for your chosen system with YellowLite and make sure that the information is duly noted in your contract.

Equipment

YellowLite does not offer a one-size-fits-all equipment solution, which is great because every home and roof is different.  However, they only use NABCEP certified installers, who will, at no charge, come out and look at your roof while taking into account your personal solar goals then will customize a system specifically to meet your particular needs.

They offer a variety of different solar modules, which are SunPower, MAGE, LG, SolarWorld and Canadian Solar, as well as a variety of different inverters, which are SMA, Fronius, and Enphase.  Installing a solar system on your home will help protect you from rising electricity rates while increasing your property value.

When using YellowLite, you will get the benefit of SunPower's patented Maxeon solar cell technology that has 21% module efficiency and are the most efficient panels that are commercially available to help you save on your electric bills. Additionally, they will do the same for commercial businesses and non-profit organizations as well.  Just contact them for your free evaluation.

Online Monitoring

According to YellowLite, they provide an online monitoring system to all their solar PV systems.  This is a great feature as it will help them determine when your system requires any maintenance or repairs, such as when any of the panels or the inverter is producing less than they should.  YellowLite would be notified immediately and schedule the necessary repairs with as little downtime as possible.

Additionally, an online monitoring system will allow you to view your system's performance and view any of the many reports remotely.  This will tell you exactly how much power you are producing every day, month and year throughout the life of the system.  YellowLite's engineering staff continually analyzes these reports and troubleshoots any issues to make sure you are getting the production that's expected.  However, problems are rare and the systems usually perform better than expected.  But if something should happen, YellowLite will contact you immediately and schedule a time to resolve the issue.

• Moving Options
• Availability
• Contract Details

Moving Options

Unfortunately, we were not able to find any information regarding how YellowLite handles moving issues.  Therefore, you will need to contact them to find out who is responsible for the moving and the cost of moving your solar system should you need to replace your roof.  Additionally, you will also need to inquire as to whether or not your solar contract is transferrable to the new owner should you decide to sell your home.  Most solar contracts are transferrable to the new owner, although the new owner might have to qualify to take over your contract.  Additionally, you need to make sure all of this is thoroughly documented in your contract.

Availability

YellowLite only offers solar services in Ohio, Pennsylvania, Illinois, New York, West Virginia, and Missouri. 

Contract Details

YellowLite does not offer any of the details about their contracts.  However, most solar contracts are based on the individual needs of your particular location and the equipment you've chosen.  Therefore, this is not unusual.

However, to get started, all you have to do is contact YellowLite and request a free quote.  They will then schedule your free site evaluation and will deliver your proposal to you via email or in person.  Your proposal will include the initial system design, any green energy rebates, and tax credits, as well as the total cost of your new system and more.  After you've signed the contract YellowLite will take care of everything from there, including the photovoltaic design, permitting, system construction, all inspections, the utility interconnection and the green energy rebate collection.

The installation process will vary depending on the size and complexity of your install.  However, a typical residential solar install should take approximately three to four business days.  Then, once the installation is complete, your PV system will be inspected by the governing municipality and your utility company, in which YellowLite will schedule and attend personally so you will not have to be present.

After the inspections have been completed, YellowLite will give you all the electrical and structural drawings of your new system, along with all owner's manuals, warranties, and instructions on how to monitor your solar system's performance.