Installing solar panels means you will be generating your own solar power. As a result, your entire electricity bill can be significantly reduced. The amount you can save will be highly dependent on the overall size of the solar power system installed and the amount of electricity your family uses. It is important to keep in mind, you will be drawing some power from the utility grid, but at a much lower priced rate.
There are a number of solar companies that now offer custom designed solar systems. This means the system will be designed for your home and the electricity you typically consume.
Offset Electricity Expenses
When the solar power system is generating more electricity that a home is able to use right away, the excess of power will flow back into the utility grid, causing your meter to move backward. The majority of utility companies will provide a credit for this influx of electricity.
The solar power system you install will produce the majority of the electricity during the mid-portion of the day, during the ‘peak’ hours, when the rates for electricity are typically highest. This will work in your advantage. This means you will be able to sell your excess electricity back at the lower, ‘off-peak’ rates seen during the night. Buying low and selling high is always a good combination. This process is referred to as ‘net metering’ and can help to further reduce your electricity bill.
Protection from Increasing Electricity Costs
The majority of utility companies are completely dependent on various fossil fuels including natural gas, coal and oil, which are vulnerable to the ever-changing foreign markets. If you turn to solar power, it will help the fight against increasing utility rates. In fact, these systems can secure you low and predictable costs for electricity for many years down the road. Your savings will continue to grow with the increase in utility rates.
There are a number of companies offering solar panel installation. While the initial cost for these panels can be significant, this investment pays off in the long run with huge savings in your total electricity costs. Be sure to discuss your power needs with the company of choice so that the right type of system can be installed. Optimising your solar energy use is good for you, your home, your wallet and the environment.
If you are ready to see how much solar panels can save you, contact SolarBright today.