Connect with us

Hi, what are you looking for?

CleanTechnica

Clean Power

10 Ways You Can Use Solar Panels to Help You Save or Make Money

 
Here’s a fun post from the folks over at Compare Electricity Prices (image added):

solar panel image

Solar panel image via Shutterstock

Whether it’s the rising cost of energy, a desire to go green, or a little bit of both, you’re considering installing solar panels in your home. Good for you. The advantages and savings can be significant and quickly offset the installation cost. Let’s take a look at ten ways to leverage solar panels to reduce your electric bill:

  1. The federal government offers incentives that help offset the cost of installation, so that a consumer can realize energy savings more quickly. This means lower energy cost in a shorter time frame.
  2. Solar panels can be used to generate a portion of your home’s power in order to reduce your dependency on traditional power sources. For instance, you can install panels to provide electricity just for appliances or lighting, to reduce your dependency on the utility company, as well as lower your bill.
  3. With solar panels as an alternate power source, you can negotiate a more favorable rate with your local electric company in many cases. Since your consumption will be lower, and your home is more energy efficient, you may qualify for lower rates.
  4. Feed-in tariffs, which are government-induced incentives for energy providers to switch to alternative, renewable energy sources. This can include homeowners, which means you can sell surplus energy generated by your solar panels back to the electric grid.
  5. Power Purchase Agreements (PPA’s) allow homeowners to lease equipment from a private company for use in generating electricity, and the company then sells surplus electricity to its customer at a lower price than the local utility. This also gives the homeowner an option that alleviates the expense of installing his own equipment.
  6. Net Metering is another policy that works to the advantage of homeowners using solar power. Electric meters will measure your electricity production as well as your consumption, and calculate the difference. So as you generate electricity with you solar panels, you are in essence banking credit with you local electric company.
  7. While not a direct savings on your electric bill, there is another financial benefit from solar powering your home. The resale value of your home will increase by as much as 20% with the installation of solar panels.
  8. Heating bills can be reduced by using your solar panels to provide the power to your home heating system. Your savings on heating costs versus using conventional electricity can reap you substantial financial rewards.
  9. Another option is to connect your water heater to the solar panel array you’ve installed. You’ll have the added benefit of knowing that you can still take a hot shower, in your comfortably warm home in the event of a winter power outage.
  10. There are numerous DIY kits available to consumers which will guide you in building your own solar panels with surprisingly little effort or expense. This can greatly reduce your initial cost, which in turn brings you to profitability that much sooner.

Appreciate CleanTechnica’s originality? Consider becoming a CleanTechnica Member, Supporter, Technician, or Ambassador — or a patron on Patreon.

 
 
Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Written By

Zach is tryin' to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in Tesla [TSLA], NIO [NIO], Xpeng [XPEV], Ford [F], ChargePoint [CHPT], Amazon [AMZN], Piedmont Lithium [PLL], Lithium Americas [LAC], Albemarle Corporation [ALB], Nouveau Monde Graphite [NMGRF], Talon Metals [TLOFF], Arclight Clean Transition Corp [ACTC], and Starbucks [SBUX]. But he does not offer (explicitly or implicitly) investment advice of any sort.

Comments

You May Also Like

Clean Power

You may remember the controversial and rude statement from California’s Assemblywoman Lorena Gonzalez (District 80) from last year regarding Elon Musk, the CEO of...

Clean Power

Landfills present an appealing option for solar — they are quiet and low profile, attract minimal vehicular traffic, and offer areas no more than...

Clean Power

California has more solar power installed than any other state — by far. It is also first in terms of percentage of the state’s...

Clean Power

Courtesy of NRDC By Mohit Chhabra and Julia de Lamare California leads the nation in fighting climate change because of state policies that have...

Copyright © 2021 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.