With the rising accessibility and growing acceptance of renewable energy. Homeowners are struggling to Reduce Electricity Bill by Solar Panels into their monthly electricity expenses. However, the potential savings on electricity bills and the installation of solar panels can vary depending on factors like location, system size, and electricity consumption. While these variables introduce some uncertainty, On the other hand, homeowners consider long-term savings through solar panel adoption.
Save Electricity Bills with Solar Panels :
If you’ve explored the option of solar power, you’re likely aware that solar panel systems can come with a substantial upfront cost. Consequently, you might wonder how investing in a solar panel system can lead to long-term cost savings.
Solar Panel Concept:
The basic concept is that the electricity produced by your solar panels will replace the power you would have purchased from your utility provider. You can get this by comparing the monthly expense of your solar panels to the amount of electricity the board generates. As a result, the cost per kWh for solar energy proves to be lower than that of electricity from your utility company. The approach for calculating these savings can vary depending on whether you purchase your solar panels through a loan or make a total payment purchase
Understanding Of Net Metering for Solar Panels:
The majority of solar systems produce extra solar energy that extra energy automatically fed into the power grid. Many electricity providers like MEPCO, ISECO, and FESCO have implemented net metering policies, which enables them to receive credits for this contributed energy. According to these policies, solar customers benefit from a reduction in their monthly electricity bills, corresponding to the amount of energy their solar system feeds into the grid.
Common Reasons Why Solar Panels Users Still Receive Electric Bills:
There is a common misconception to Reduce Electricity Bill by Solar Panels that installing solar panels on your home will eliminate your electric bill. Even with solar, there are four main reasons why you will still get a bill:
Cloudy Days & Nights:
The primary reason is simple: Solar panels require sunlight to generate electricity. Since the sun isn’t always shining throughout the year and sets each night. So there will be periods when solar energy production is limited according to the Sun . Unless you intend to abstain from using electricity at night or during inclement weather, your home will continue to rely on the main power grid. Consequently, the average homeowner will receive a monthly electricity bill, even if their solar panels operate at maximum efficiency.
Lack of Solar Battery Storage:
With a solar energy system installed, you will likely generate more electricity than your home consumes. That will happen, particularly during peak hours of electricity generation. If you have a battery system, you can store the surplus energy and utilize it when the sun isn’t shining.
Without a solar battery storage system, you won’t be able to utilize that extra energy during nighttime hours, leading you to draw power from the utility grid. Consequently, you’ll be charged for the electricity from the grid in such cases.
Lack of Net Metering :
Net Metering is a billing program that enables you to receive credit for the surplus solar energy your panels generate. Whenever your solar panels produce more electricity than your home requires, the excess energy is sent back to the utility grid, and your electricity provider grants credits to your account based on the amount of electricity contributed.
The value of these credits depends on the rate set by your utility company. The idea behind net metering is that you can use these credits to offset the cost of electricity drawn from the grid in the future, essentially balancing out your usage.
However, if your utility company doesn’t offer a net metering program, you won’t receive any credits for the extra electricity your solar panels generate. As a result, when you need to draw electricity from the grid during nighttime or stormy days, you’ll have to pay for that usage separately without the benefit of using the credits earned from your solar generation.
Maximize Electricity Bill Savings with Solar Energy:
Use Less Electricity
- Making the switch to LED lighting by replacing your old light bulbs.
- Maintaining your refrigerator with a minimum of three-quarters capacity.
- Disconnecting small appliances when not in use.
- Try to use heavy curtains , that will help regulate temperatures.
- Upgrade to energy-saving appliances as per recommended by Energy Star appliances.
Install Battery Storage:
Another option is to consider investing in a battery that stores surplus electricity generated by your panels but not immediately consumed by your home. In times when your panels may not generate sufficient electricity, you can utilize the stored reserves from your battery instead of relying on power from the main grid.
Optimization in Time-of-Use:
With a time-of-use electricity plan, you have the opportunity to access lower rates for your electricity consumption by adjusting your energy usage according to peak and off-peak hours. Consider running energy-intensive devices during non-peak hours, such as washing machines, to optimize your energy consumption.