Saving money and energy are perfect reasons to add color panels to your home. But there are even more benefits too! If you are thinking of making the switch, read this first.
Making the choice to go solar is easier than ever before thanks to a variety of benefits that they provide homeowners ranging from environmental to socioeconomic.
While many know that going solar is good for the environment, they often fail to understand the full gravity of making the switch. This is usually due to lack of access to reliable information on the topic. So, what are some of the many benefits of adding solar panels to your home?
- Lowering Your Energy Bills
- Lowering Your Carbon Footprint
- Generating “Free” Energy For Your Home
- Solar Net Metering
Lowering Your Energy Bills
First and foremost, a solar energy provider in Alberta is designing a solar system for your home with the goal of saving you money. Solar systems are able to save money by decreasing the amount of energy that must be purchased from the utility by producing your own.
The amount of money that you can save on your electricity bill every month is directly related to the size of your solar system. Clearly, larger solar systems will save you more money in the long term but of course the upfront cost will then be higher as well. In some cases, your solar system can actually generate more electricity than your home uses so that you receive a check or credit from the utility at the end of the month.
Lowering Your Carbon Footprint
While many enjoy the financial benefits of solar, others enjoy the environmental benefits of the renewable energy resource.
It is estimated that every kilowatt hour generated by solar avoids roughly 0.75 kilograms of carbon dioxide from entering the atmosphere. Over the course of a full year, this environmental benefit can grow quite large.
Generating “Free” Energy For Your Home
Once all financial incentives have been utilized to minimize the total investment in the project, a home solar system will have a final cost. This final cost includes the cost of the solar equipment in addition to the cost of the solar installation by a labor team.
Additionally, the solar installer will be able to give you an estimate of how many kilowatt hours your solar system will generate in one year. This annual generation has a value which can be determined by your current electric bills. On the electric bills, you will be able to see the cost you are paying per kilowatt hour.
Next, you can multiply the cost of electricity by the total number of estimated kilowatt hours that the solar system will produce. This is your annual energy savings.
Finally, divide your total solar system cost by your annual energy savings to get what is know as your “payback period”. This is the length of time, in years, that your solar system will take to pay for itself.
Any energy generated after the point where it has paid for itself can be viewed as essentially “free” because your full cost has already been recovered. It should also be noted that because solar only uses sunlight as fuel, there is never a cost to buy fuel as you would with a backup power system such as a diesel generator.
Solar Net Metering
Any energy provider in Alberta can tell you all you need to know about solar net metering. Net metering typically involves the process of exporting excess power to the grid when your solar system produces more electricity than your home is using at that point in time. SO what is the benefit of this?
Rather than simply giving these unused kilowatt-hours away for free, solar net metering allows your utility to track these exports electrons to the grid. Then, at the end of the month, the solar system owner will receive a credit on their bill for their generation.
This is a huge financial benefit and helps homeowners to see a return on their investment much quicker. Be sure to check with your local utility as the crediting rates can differ from place to place.
Solar generation is thriving in Canada. Despite the fears that Canada does not receive enough sunlight to make solar work, there are many of solar systems already operating in the Alberta area. By informing yourself on the benefits of solar, you can take full advantage of a system installed on your home.
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