Solar energy is one of the cleanest types of energy we have around. With the current rate of global warming due to fossil fuels, solar-powered houses, businesses, and industries help mitigate the catastrophic consequences of energy from fossil fuels. The big question is, how does the consumer benefit directly?
The truth of the matter is that you can save a great deal of money by using solar energy alone. Coupled with solar battery systems, the energy savings will be much higher since you’ll save your extra energy for later use. What are the advantages of using a solar battery system? Saving money stands out, just as well as keeping the environment safe.
How Can a Solar Battery System Save Me Money?
Solar battery storage systems can save your wallet in many ways. The extent of savings will depend on your location, the government policies and incentives around the solar installation, and the company you choose to do the installation.
Savings in One-to-One Net Metering
A net metering rate plan is the norm in the United States if you have solar panels geared towards saving money. One-to-one net metering, however, isn’t available in every state or utility. This means that you will pay more for each unit of power you use from the grid than they would pay you for each unit of solar energy you contribute to the grid.
This may not make financial sense unless you have solar battery systems. Instead of contributing to the main grid for less money than you get when you buy back, storing your energy for later use can help you minimize the use of main grid power. This will reduce your electricity bill significantly.
Savings in Time-Varying Rate Systems
Time-of-use (TOU) rates are common in some states. TOU is whereby the electricity prices vary depending on the time of the day. During the day, when consumption is assumed to be high, the prices per unit go higher. They go lower at night when consumption is less in most households or businesses.
If you have solar installations, you can offset the expenses by using solar energy during the day when the prices are higher for the main grid power. To save even more, you’ll also need to store some power for use during the night to avoid using the main grid. This will see your electricity bills go significantly lower than you’d imagine.
Savings in Demand Charges
Demand charges are common in both commercial and industrial settings. With demand charges, users are charged based on their highest demand times. For example, your utility may take the hour in which you had the highest demand for electricity and use the data to set your monthly payment.
When appropriately adjusted to your consumption profile, solar battery systems may dramatically lower your monthly power expenditure by reducing demand charges.
Mohave Solar is a reputable solar design, installation, and maintenance company serving residents of Lake Havasu City, AZ., and its environs. We also offer solar battery storage services to ensure our clients save all the money they can by storing their power for later use. For more information about our solar services, call us at (928) 680-0040 or message us online to speak with one of our experts.