Once you incorporate your own solar system and start to generate power independently, your utility expenses can substantially drop. How much you can actually save will greatly depend on the size of the installed system along with your family’s general usage. Although you will continue to draw a bit of power from the utility grid, it will be at a much lower price point. Consult a solar professional about designing and implementing a system that’s conducive to the needs of both your home and family and to assess the best utility rate structure relative to your energy needs.
Sell Surplus Power Back to Your Utility Company
Once your solar system starts to generate more electricity that’s necessary for your home to employ, your surplus power essentially flows back to the utility grid resulting in your meter actually spinning backwards. The majority of utility companies will either pay or at least credit you for the excess electricity.
Your system generates the largest amount of electricity during ‘peak’ hours, the middle of the day when utility rates reach their highest. This benefits you immensely given that you can sell surplus electricity at higher peak rates during the afternoon, and then purchase electricity back during lower peak rates during the night. It’s like stock – sell high and buy low. This process is called “net metering” and can literally decrease your utility expenses even further.
Protect Yourself from Increasing Energy Prices
Residential utility companies rely on fossil fuels such as natural gas, coal, and oil, which are susceptible to volatile foreign markets. However, once you switch to eco-friendly solar power, you’ll begin to hedge against increasing utility rates. You’ll be able to lock in low, predictable expenses for electricity for years to come in the future. As utility costs continue to rise for everyone else, you’ll actually be putting money into savings each year.
Use a Solar Energy Plan and Save Money
Solar power can cost significantly less money than paying the utility company for power. Plus, most plans are extremely flexible so you can start saving money right away. Some customized solar plans let you start with $0 down or you can try to prepay for a part of your electricity in advance in order to decrease your ongoing monthly bills.
Because solar systems are free of moving parts, there’s very little ongoing required maintenance. Some solar plans offer extensive warranties and are extraordinarily well made so that you never have to worry about spending money on maintaining the system. Also, maintenance and repairs are frequently included in the service plan.