Life After Solar Panel Installation: Savings
If you have gone solar – congratulations! Now that your solar panels are installed your question is probably how much money will I be saving? Will solar actually offset your whole electricity bill? What is life like after solar panel installation?
Let’s take a look at what an average household would spend in a year on their electricity bill. The average household uses approximately 11,000 kWh annually and the current electricity rates at $ $0.1877. The average household will spend over $2,640 annually. And keep in mind that rates increase annually.
Your cost for electricity and solar power generated all depends on the number of panels you had installed. Say your consumption is 10,000 kWh and your panels produce 10,000 kWh than your electric bill will be lower than $10 per month. Your service provider will have discussed the number of solar panels.
Can you earn credits or even make money after solar panel installation?
Your solar panels generate energy or “credits”, at times like midday when no one is typically home. When you come home in the late afternoon you are using electricity and therefore using your credits. Over time if you have generated extra “credits” you can sell those back to the electricity company. The electricity company has a limit to the number of credits you can sell to them via “Net Metering”, and some companies make it easier to do this than others. But life after solar panel installations means you may be able to make some money back.
To take advantage of this benefit, you will first need to assess the amount of electricity you use, make sure your installed solar system is large enough to handle that consumption, add a few more panels if necessary. The next thing you should do is to reduce your electricity usage.
There are many ways to earn credits passively, like family vacations or shutting off the AC when you leave home. Here are some other ways to use less energy and perhaps build credits: Make sure that when you leave a room that you turn the light off, unplug any devices or chargers you are not using. These are called Vampire devices. Although you may not be using the devices, they are still pulling energy.
To learn about how much you can earn in solar credit, find out from your utility provider what their cap is on credits they will buy from you on a monthly or annual basis. You will receive a credit on your energy bill and if the amount of purchase credits surpasses your bill, you’ll then receive a check! That check signifies you did the right thing with solar panel installation.
Life after solar panel installation typically involves money saved and often money made from the electricity company. Go Solar today, it’s truly a great investment.
If you are ready to have a conversation about the solar options available to you, contact SunPro Solar today 951-678-7733 and speak with one of our experienced energy experts.