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How Solar Panels Can Help Save Cost In 2020
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September 13, 2020

How Solar Panels Can Help Save Cost In 2020

The year is rolling along, and everyone is trying to look for means to reduce spending a lot in the year 2020. The use of solar panels can be a great way to save yourself and your household a certain amount of money over the long term. Although the installation of solar panels might seem expensive, however, it is definitely cheaper than the cost of electricity compared with the long term benefit.

Electricity bill payment is one, which varies with each passing year. The current average annual electricity use in each U.S. household is about 10,972 kilowatt-hours. With this unit in mind, we can estimate the national average electricity rate and calculate each household’s amount, which they will be spending on electricity each year. This will be close to $1,500 a year.

This value might sound low; however, when you consider the fact that the cost of electricity increases by about 2.2% every year, you will agree that the volatility associated with electricity prices might lead to a massive increase in years to come. This is not the case with solar energy, as the total amount you will be spending will only be on the installation and the added electricity cost.

The amount you will be paying on electricity is largely dependent on the size of your PV system. This means that if you have enough solar panels to offset electricity needs in your home, you will only be paying to install the panels while enjoying constant light for several years.

Solar Panel Installation And Electricity Bills

Some people might be worried about getting electricity bills even with the installation of solar panels. Yes, this can happen; however, the bill might not require you to pay any amount of money. The reason you will always get an electricity bill is that your property remains grid-connected.

However, with the introduction of net metering in most states in the country, you can use the energy generated from your solar panels in exchange for your electricity bill payment every month. The unused energy gotten from your solar panel during the day is sent to the grid. This is where you will draw some energy from at night since there is no sun.

As long as the amount of energy you use during the nighttime is not more than the amount stored in the grid, you do not have to make any extra payment at the end of the month. In fact, if the stored energy is in excess, you will enjoy a rollover to the next month. However, you will always get an electricity bill indicating all these at the end of the month.

Solar Energy and Carbon Emissions

Apart from saving cost, solar panel installation can also help keep the environment safe by reducing greenhouse emissions in the atmosphere. The amount of carbon emissions produced by one fossil fuel automobile is equal to that produced by 6,000 watts solar panel systems. This means that solar panel installation is safer as it takes a lot of panels to produce a large amount of carbon emissions into the atmosphere.

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