Do solar panels reduce my electricity bill?
Solar panels can reduce your electricity bill, but you must manage your electricity usage carefully. Many people make the mistake of using more electricity after they go solar, which can result in a higher electricity bill that ends up costing them more money. In this article, we’ll share ways to save on electricity and solar panel tips to help reduce your electricity bill.
Choose the right rate plan
The very first thing you need to do is to choose a rate plan from your utility company. There are over 3,800 utility companies in America, each with their own rate plans. Many utilities require solar owners to go on a time-of-use (TOU) plan. The important thing to remember is that on a TOU plan when you use electricity has a huge effect on your bill. Try to reduce your electricity usage during peak rate hours as much as possible.
How EV ownership and home batteries can help you save on electricity
Many utilities offer lower rates for EV owners so they can affordably charge their cars. If you are thinking about buying an electric vehicle or plug-in hybrid, check to see if your utility company provides a special rate plan for you.
Home batteries can also be a smart way to save on electricity. If you are on TOU billing, you can power your home from the electricity stored in your batteries during peak rate hours. If you live in California, you can also take advantage of the state’s Self Generation Incentive Program. As of the time of writing, this program pays up to $400 for every kilowatt-hour of installed battery capacity. If batteries are added to the system, those eligible can also claim the federal tax credit for renewable energy.
You should contact a qualified tax expert and consult with them. Neither Freedom Forever’s family of independent authorized dealers nor Freedom Forever itself can give you tax advice. A qualified tax professional will understand your situation and be able to give you the most relevant advice.
Track your solar system’s power production
Your solar system’s power production will vary by season. The system produces roughly 35% of its power production in the fall and winter, and 65% of its power production in the spring and summer. Learn how much power it generates every day. You’ll also want to watch how much power you are using during the day. Use that information to plan what times you are going to run major appliances. Plan to run those appliances when you are paying the lowest rate for electricity.
You can add solar panels to your existing system if you need more power
If there is additional space available on the roof, you can also add more solar panels to your system if you need more power. If you are interested in adding panels to your system, you call us, we do add-on systems. Your utility company may limit the amount of additional power that your system can generate.
Freedom Forever can help you go solar with confidence
There’s one other thing that can get you stuck with a high utility bill. That can happen if your system breaks and stops producing electricity and you don’t know that happened. If that does happen, you won’t know it’s broken until you get your next utility bill. But that nightmare scenario won’t happen with a Freedom Forever solar system. Thanks to our 25-year production guarantee, we monitor your system for 25 years. If it breaks or underproduces, we’ll notify you and come out and fix it. If the problem was due to something that was our fault, we’ll compensate you for the lost electricity production. The amount of compensation you receive will be listed in your contract with us.