One of the main advantages of installing a solar panel is that it enables you to generate electricity at home. You may cut your electricity costs and the number of hazardous pollutants produced by using this renewable resource as an alternate energy source. Therefore, using solar energy can be a great way to combat climate change and lower your home’s carbon footprint.
Solar Power is the Free Source of Energy
The sun is the largest source of energy you can utilize. A properly installed solar panel can provide you with enough power to be less reliant on power grids and earn cash.
The advantages of using solar energy are most apparent over the long term. The more money you can save by lowering your electric bills, the longer you use your solar power system. Your home can become more energy efficient and cost-effective by using solar energy.
What is Energy Offset?
Your energy offset (electricity offset) is the amount of electricity a home generates in a year relative to the total electricity used for that year. For example, if a home’s solar panel generates 70,000 kWh of electricity in a year and consumes 100,000 kWh, the house would have a 70% energy offset.
When you have a home that generates that same amount of electricity used in a year, you have a 100% energy offset. This is also known as a “net-zero” building, which is possible when you have a solar panel at home.
The more energy you can offset, the less dependent you are on power grids prone to grid outages, weather events, and fluctuating utility rates.
How Much Solar Energy Can Save You
Solar power can help dramatically reduce the running cost of your home. Consider the following factors to find out how much you can save by installing solar panels.
Your average energy consumption
The first step in determining if you can offset your energy bill with solar energy is by finding out how much is your average energy consumption. Knowing how much you consume can also determine which system is right for you and how much energy you can offset.
Your usage patterns
Solar energy can only produce electricity during daylight; anything in excess is sent to the grid unless you have a solar battery. Your energy provider will pay you for the power export, thus, offsetting your power bills.
Your solar energy system is always used in your home before the power grid. Therefore, when you have used more electricity than your system can provide, it will get energy from your power grid.
The size of your solar energy system
The size of the solar energy system you install has a significant amount of impact on how much money you can save. Choose a large enough system to cover your power usage, decrease your payback period, and maximize ROI.
Do not install a system that is too large that it is exporting a surplus of power back to the grid. Remember that feed-in tariffs are low; thus, you’ll end up selling power back to your energy provider for much less than the cost of your electricity rates.
Your geographic location
Where you live will influence energy production and how much you can save. If you live in a place with high solar radiation, a 2kw system can work just fine. On the other hand, a place with low solar radiation can benefit from a 3kW unit.
With these factors in mind, solar energy systems can save anywhere from $9,000 to $30,000 depending on the cost of electricity in your area, the amount of solar radiation, and the cost of offset energy.
What to Consider Before Installing Solar Panels
Installing solar panels is not as easy as buying and placing them on your roof. You need to ensure that your roof is big enough for the number of panels you need to install and how much sunlight it gets.
You also need to know the size of the solar panel system you need. You need to ensure that the size is big enough to cover your home’s energy needs but don’t waste energy.
Consider installing a solar battery or energy storage system to store your solar panels’ electricity. This will let you store electricity created during the day to use at night, helping you to become more self-sufficient and minimize the amount of electricity you consume from the grid.
Although installing solar PV panels typically does not require planning approval, it is still a good idea to check with your local government if there are any restrictions, such as if you live in a listed building or a conservation area.
It would be best if you also informed your home insurance provider to ensure they will cover solar panels and determine whether your premiums need to be adjusted.
You May Still Have a Power Bill
Most homeowners can’t buy the total cost of solar panel systems in full; therefore, they may still have a bill related to their energy usage – in the form of paying the loan for their solar panels.
However, once the loan is paid in full, you will only have to pay for the electricity you use from the power grid, which should be a little. A solar panel is the best investment for homeowners who plan to stay in their homes long-term.