Understanding Solar Energy Financial Benefits that Exist in Texas
Solar energy is a popular option for the residents of Texas. Solar panels transform energy from sunlight into electricity. The most important part to note here is that the resource that is being consumed is natural, free and unlimited. Due to that, it greatly cuts down costs of electricity considering how expensive local electricity has become these days.
Solar panels have not gone mainstream in Texas yet because of lack of knowledge and information regarding them. The energy solar panels produce can power homes and businesses. Therefore, solar energy is promising customers to save tons of their money because it is a source that is renewable and costless.
How it works is that the sun’s light provides energy in the form of photons. As they reach Earth, they provide these panels with sufficient energy to power the whole planet. As the sun’s light is unlimited, so is the energy.
However, what needs to be considered here is the capacity of your solar panel’s battery. How much charge it can hold will determine which appliances will be powered and how long they will be powered for. The costs associated with solar energy systems is solar panels, the battery and grid where energy needs to be stored to provide power at night.
Nonetheless, it is a one time and long-term investment for the residents of Texas. Once your solar panel is up and running, you will just need to maintain and monitor your system to make sure it is optimally running. In order to understand the solar energy financial benefits, you first need to understand the factors on how much money you can save:
Dependency of financial benefits through solar energy
The quantity of money you save depends on the following factors:
How much sunlight is it getting?
This plays a major role in the production of electricity because if your solar panel is not angled correctly, the sunlight won’t hit directly and therefore, the batteries will not get enough charge to store. If that happens, you might run out of electricity before the day ends. Therefore, it is important that you make sure your solar panel is getting sufficient light.
Local electricity rates
If your local electricity rates are high, then solar panels will drastically affect your electricity bills as you will come to realize how cheaper and more effective, they are. An average family is spending over $300 on electricity in per month. Over the past years, electricity rates have increased by approximately 2.2% per year. This inflation in costs of electricity has encouraged consumers to opt for solar panels, you will not have to worry about inflation and no matter what the local rates are, your cost will be constant.
Size of your pool
This means that the more people drawing energy from it, the more you may need to store to meet the demand. In other words, more solar panels if powering multiple households and a few for one house, depending on your setting and requirement.
To prove that having a solar panel does save you money, you need to know how much you are paying for electricity every year and then compare it with how much you will have to pay once you have solar panels installed.
Solar panels are especially suitable in Texas where sunlight is in abundance which allow the batteries to fill up with consistency. The only costs you will come across with a solar panel is the cost of installation and the cost of any additional local electricity consumed in case the production of electricity doesn’t meet the demand of your household. To avoid that you can calculate how many watts are being consumed regularly and considering that, how many solar panels will be required to fulfill the demand.
Will your electric bill stay?
One common question is that “will your electric bill stay?” Many assume that it will completely go away but sometimes this is not the case. As long as your house is on the grid, you will get the bill. However, in Texas they have introduced the concept of net metering which allow any extra units produced by your solar panel to be transferred to the grid for which you get credits in exchange.
This also allows you to draw energy from the grid to power your house at night and you will not have to pay for it as long as you send the units back. So, in the end, you will only have to pay for units that you drew from the grid but didn’t compensate for or the extra units that your solar panel wasn’t able to provide you with.
Overall, you will not have to pay a lot of money, only a small amount. It may also be the case that you may receive a bill, but you will not have to pay anything at all. Your bill may only show you how solar panels and net metering compensated for you. The extra credits which you may have earned will be transferred to the next month if not used as compensation.
Ultimately, solar panel will financially get you rid of the burden of extra electricity bills in Texas. They are undoubtedly, a risk free and fool-proof way of saving money. An additional benefit is that you will not only be saving yourself from a financial burden but also the environment because as the size of the system panel increases, the CO2 emissions in the environment reduce dramatically. To calculate your potential savings and cost of your required solar panel in Texas, schedule a complimentary consultation with Sunshine Renewable Solutions today.