If you are a household that pays hundreds of dollars as the electricity bill every month, you should read this. Everyone knows that it requires a huge amount of fossils to generate electricity, but sunlight is free. If you install solar panels, you invest once, and these panels last for 30-35 years.
The best motivation for people to install solar panels on their homes is money. How installing solar panels can save you time and money is discussed in this article. So, read on.
How Much Do Solar Panels Save?
It is not an investment that starts paying off immediately, but the process of saving starts from the moment you install them. How much you save by installing panels depends on the amount of electricity required for your house, the number of panels you install, your roof size, and the maximum amount of sunshine the panels can receive. The electricity rates in your area play a key role here.
Solar panels convert sunlight into electricity. You use it, and your electricity bills reduce over time. After a certain period, you realize the entire investment on installation, and your electricity gets free. You don’t see direct savings from solar panels reflected in your bank account, but if your expense drops, it is also saving.
How much Can I Save Monthly By Installing Solar Panels?
You can calculate it by multiplying your annual electricity consumption by unit electricity cost. For example, you spend $1300 a year on electricity bills. If it comes down to $50-$100 a year after solar panel installation, you will save $1200 a year. In the long run, these savings will become bigger.
Apart from this, the electricity rates inflate at 2.2% a year. But when you generate your own electricity, you save lots of hours that you otherwise spend thinking about increasing electricity costs. At first, the installation cost seems like a big investment, but, you will realize that it is indeed a beneficial one over time.
Why Do I Get An Electricity Bill?
It is a question most homeowners ask after installing solar panels. People often assume that there will be no electricity bills once they have installed solar panels. But you are still connected to the grid. The solar panels can generate upto 96% of your electricity requirement. You can fulfill the rest of the requirements from the state and get the bill for it.
But you can change this. Since 2008, the concept of net metering has been prevalent in Florida. As per net metering, the excess solar energy you produce goes to the grid. If you draw energy from the grid, it is set off against the energy you transmitted. If you use less than what you transferred to the grid, you are not charged any money. If you draw more than that, you are only charged for the excess number of units. Your excess transmission credit gets rolled over to the next month, and you can draw electricity in time of need.
Installing solar panels is a little step towards reducing carbon footprints. But it is an individual effort that, if combined, can yield massive positive results. So, hire a Broward County professional today and see how you can go solar and save money in the long run.