In the long run, installing a solar panel will save some serious cash. The amount you save is dependent on many elements. Like the size, angle, and hours of direct sunlight your roof is exposed to, but ultimately your local electricity rates play a huge role in determining how much money you end up paying and saving.
In this article, we share a few ideas on how a solar roof installation can save you lots of money.
IMAGE: UNSPLASH
How Can You Save On Paying For Electricity?
The initial step to figuring out how much you can save with solar is to calculate how much you’re spending on electric bills every year. For instance, a US household uses an average of 10, 649 kilowatt-hours (kWh) of electricity yearly. You’ll need to multiply that amount by the national average electricity rate which could be $0.1360 per kWh. From this basic calculation, you will find that the average American family spends just below $1,450 annually just on electricity.
After that, you need to think about the unstable nature of electricity prices and make and predict how utility rates will change in the coming years. When you make a comparison between solar for your property and utility electricity, you need to be mindful and anticipate electricity costs to increase every year.
In the past decade, electricity rates have expanded at a rate of 2.2% year on year. Another added incentive for solar is utility rate inflation. In other words, when you develop energy yourself using solar installs Utah, you’re able to cut down the price you pay for electricity at a consistent rate so that wants you don’t have to think about variable utility rates.
By nature, solar panels are an investment you make upfront. At most, the only cost associated with a solar system is the installation and whichever additional electricity costs should the panels you have installed not work 100%.
With Solar Panels Will You Still Pay Electric Bills?
Thinking your electric bill goes away completely is a normal misconception most people have when they install solar panels. The truth is even if you’ve installed many solar panels intending to cut electricity costs you will still have an electric bill sent to you from your utility provider if your house remains connected to a grid. Although this is a reality it does not mean you will pay forever and these are the reasons why:
Due to net metering being available in many states, the energy produced by the solar panels that you don’t use right away is automatically sent to the grid and exchanged for points on your electricity bill.
This permits you to extract energy from the grid throughout the night. Without you needing to pay additional cash. All you need to do is pull back a less amount or the same amount than you previously gave to the grid.
Once you get your electric bill every month, any net metering points you used in that month will be highlighted and you will not be charged a fee for that power.
The bottom line is you will certainly get an electric bill once you get solar panels installed. In some cases, the bill may not require you to pay anything but may indicate how your electricity usage was used by displaying your net metering credits for that month.
In the event where you offer additional electricity to the grid, your utility provider will roller overused bill points to the following month for you to use. Nonetheless, installing solar panels will decrease the amount you pay towards your electric bill and may remove the electric bill completely in other cases.
Are Solar Panels Able To Decrease Your Carbon Footprint?
Financial returns are a huge incentive for investing in solar, however, solar panels can save more than just money. When you install a solar panel you’re also contributing to enhancing the environment and decreasing gas emissions from greenhouses. This then begs the question – how much are solar panels able to save? There are two ways to answer this question, the first will look at how much cash solar can save you and the other will look at how much the emission of CO2 can be avoided.
Efficiency
Solar panels can convert 22% of their obtainable energy into electrical power. This is a really high percentage when thinking about the amount of money you are paying towards electricity each month.
Solar panels are developed with solar cells. By definition, a cell is a tiny disk of a semiconductor that looks like silicon. They’re attached to a circuit through the wire, so as the sunlight hits the semiconductor, the light is changed into electricity that makes it flow throughout the circuit. Once the light ceases, the solar cells don’t continue to produce power.
A solar panels pool heating technique makes use of the sun’s energy to make your water hot. The water is channeled to the collectors going from the floor to the top. As it rises gradually, it becomes heated with natural energy and thereafter returns to your pool. This process continues until the water in your pool gets to the preferred temperature. You’re able to enjoy an additional 10-13° of heat in your water without causing pollution in the air or breaking your bank.
Conclusion
Fundamentally, whether you want a solar panel because you want to cut down on finances or carbon emissions, either way, this kind of system can create huge savings for all homeowners.
Installing home solar is an alternative that aids homeowners attain true independence, that goes beyond being off the grid. Financially you gain because all the infrastructure you paid to get installed will save you a ton of money due to the self-regulating equipment that comes inbuilt with solar panels.
So, if you’d like to have more information about solar power for your property, get in touch with a solar installer in your locality. Most of them provide free quotes and you’ll learn more specific solar installation types that are right for your needs and will save you money in the long run.
If you are interested in even more technology-related articles and information from us here at Bit Rebels, then we have a lot to choose from.
COMMENTS