How Much Is Your Electric Bill With Solar Panels

You can use your solar panels alongside a normal energy tariff and there s no need to tell your energy company.

How much is your electric bill with solar panels.

Financial returns are a major incentive for going solar but money isn t the only thing that solar panels save. However even if your solar panels supply 100 of your annual electricity needs you will still receive a monthly bill from your electric company. Srecs have a variable sales price but they represent extra income beyond your power bill savings. Solar panels generate their own power and can therefore greatly offset your monthly electricity bill if not eliminate it.

The higher your bill the more likely you ll benefit from switching. An average monthly electric bill of 100 becomes an annual 1 200 expense. Soon you ll just glance to see how much electricity your solar panels are producing and how much your household is using. How much can solar panels reduce your carbon footprint.

In addition to saving on electricity bills you will earn one srec for every 1 000 kilowatt hours generated by your solar panels. The size of your solar panel system among other factors influences the number of kilowatt hours kwh that are produced. You ll just use less electricity from the grid and therefore pay lower bills. Most utility companies charge a minimum monthly fee which means that you will have to pay a small amount every month even if your usage that month is zero or even negative.

After installing solar feel good supporting a sustainable clean environment by comparing your previous year s electric bill with your new solar panel bill for the same month. Your savings also depend on the electricity rates set by your utility and how much the utility will compensate you for the excess solar energy you send back to the grid. Over 20 years that same 100 monthly bill balloons to 24 000 paid to your utility and that s before factoring in electricity rate increases that will likely make your 20 year energy costs even higher. A 6 kw solar panel system will normally accumulate between 7 and 10 srecs per year.

When your solar panels produce more solar power than you use your solar energy system sends the excess solar energy to the grid. Installing a solar panel system at your home or business takes. The size of your solar panel system has a direct impact on your monthly electric bill. Most residential solar panel systems are anywhere from 5 to 10 kilowatts kw.