Make money while using solar? Most of us would say “No way!” I wouldn’t blame you. It sounds crazy, especially when many Americans are still thinking that solar energy is too far out of their reach. Even in California, the sunniest state and the largest solar energy user in the country, many people still believe that solar energy is too expensive for them and it’s not worth it to install a solar power system only to realize it’s too pricey.
How mistaken these people are. The first way to make money out of solar energy is when you save a lot of it on lower electricity bills. Solar panels have become more affordable, efficient and cost-effective over the years. This means that over the system’s lifetime, there will be a big reduction in your use of grid electricity.
Since electricity price trends go up every year, using solar also means that you will have bigger and bigger savings as the years go on. The average system lasts for almost 20 years, so the total savings could be in the tens of thousands of dollars. Neat, huh?
There is also the fact that when your electricity consumption goes down, the charge also decreases. So if a large portion of your electricity is generated by solar panels, then you will have a smaller charge on your bill saving you even more money which you can invest in more solar panels until you have a surplus in solar-generated electricity. Which is why this next method could pay off big time.
In California, there is an incentive plan for solar users called net energy metering or NEM. With this plan, you will get paid for any energy you contribute to the grid. If you plan it right, it could result in a net profit for you. For example, data shows that the afternoon is when electricity is most in-demand. This also means that electricity is very expensive at this point. When you “export” electricity from your solar power system at this time, the grid will pay you a higher price for it. Since this is also the time when the sun’s output is peaking, you will have more power to export resulting in more credits. Then when the sun goes down, and the demand and price for grid energy goes down as well, you can buy electricity for a lower cost. This is a great way for people with surplus generated electricity to contribute to the grid and make money at the same time.
However, this is the real icing on the cake. A study found out that solar PV installations have increased a property’s value by $4.00 per watt when sold. Let’s do the math here for us to see it better. Solar panels are sold and installed by watt, with the average price ranging from $4.50 to $5.00 per watt. That means that when you sell the property, you will be getting as much as 90% of the solar panels’ price back. A pretty good deal, especially on top of the other benefits already mentioned before.
Solar power is the future of energy. To get the best solar panel deals in San Jose and the Bay Area, contact the professionals at soleeva.com. Soleeva employs experts with years of experience in the field. Let us show you how we can help. Check us out at https://www.soleeva.com and schedule a consultation.