How to Save Money on Your Energy Bills With Solar Panels

Ever wondered about the benefits of solar energy? Undecided about making the switch? If you want to reduce your energy costs while harnessing a green, sustainable power option, installing solar panels could be right for you. Discover more about the process and tips to cut expenses on your electricity costs with solar energy.

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Make Sure Your Home Is Suitable for Solar Panels

The first step is to find out if your home is a good candidate for solar panels. The primary aspects include your local sunlight levels and your state's solar incentives. Next, assess your roof’s orientation, layout, and condition to see if it can hold an economical solar array. A qualified technician can guide you through this part of the process.

Funding for Your Panels

You have a couple of main choices: take out a solar loan or buy solar equipment with money up-front. Solar loans make the switch to solar energy more accessible. Your electric bill will decrease, and the energy made by your solar installation should completely take care of your loan payments. Although an up-front purchase requires an initial payment, it eliminates ongoing loan payments for big savings both now and in the future.

Boost Your Savings with Solar Panels

When your solar panels are in place, you can increase your savings with various strategies.

Use Less Electricity

Efficient energy use helps your solar panels go further. Here’s how to ensure a larger portion of your home's power comes directly from your solar array:

• Change to ENERGY STAR-rated utilities and appliances.
• Set your thermostat down by a couple of degrees, and dress for the season to stay comfortable.
• Change t LEDs.
• Unplug devices and turn off the lights when not in use.
• Only run the dishwasher and washing machine with full loads.
• Install water-efficient fixtures to reduce hot water use.
• Use energy-efficient curtains to keep windows insulated and keep a consistent indoor climate.
• Keep your refrigerator full to boost performance.
• Set your water heater to 120 degrees Fahrenheit to cut down on heating expenses.

Adjust Your Energy Use to Peak Solar Times

If it makes sense for your daily plan, plan more of your energy use for the middle of the day when solar panels produce the most. Using energy-intensive appliances during peak sunlight hours maximizes solar efficiency and cuts down the necessity to draw grid power when the sun is down.

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Sign Up for Net Metering

Many utility companies offer net metering programs, where surplus energy from your solar panels goes back to the grid. You receive credits from your utility company for this extra power, cutting down future costs. This increases your savings and ensures that none of the energy your solar panels produce goes to waste.

Take Advantage of an SREC Program

Solar credit programs allow solar panel owners to earn and sell credits for the electricity their system generates. This provides extra income and speeds up the return on investment of your initial solar investment.

Determine if TOU Programs Fit Your Usage

TOU plans charge different costs for electricity based on the hourly demand. Peak times are typically during late afternoon and early evening when energy use peaks. Rates during these times are higher than non-peak periods.

For solar panel owners, remaining with a TOU plan can be beneficial for several reasons. First, if your solar array produces more electricity than you use during peak hours, net metering lets you return surplus power to the grid at a higher rate. Then, you can use solar energy directly if you adjust your energy use to midday, leaving you with a reduced rate during off-peak hours when your solar panels aren't producing any energy.

However, if your solar output is low during peak times, and you often find yourself purchasing grid electricity when rates are high, a TOU plan might not be as beneficial. In this case, leaving the TOU program and choosing a flat rate might save more money.

Add a Solar Storage System

Without a solar battery, you can only use sun-generated electricity when the sun is shining. But with a battery backup, you can maintain power at night and on cloudy days. This battery system’s sleek design fits unobtrusively in your garage or on an exterior wall. Plus, the intuitive Tesla app allows for live tracking and management. The Powerwall and other solar batteries are eligible for tax incentives to help make the investment more affordable.

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Use Solar Energy to Power Your Home