Reducing your Electric Bill
Every home is different and every person uses electricity differently. Factors affecting your electric bill are:
- Are you using electricity in one of the higher bands
- Your personal circumstances. Can you claim a discount for medical reasons?
- Where you live. Each utility has different tariffs.
- The level of comfort you want to have. Turning up your thermostat will reduce electric usage but how hot are you prepared to be in your house?
More complexity is on the horizon with the likelihood of different rates being charged for usage at different times of the day plus an overlay of demand charges.
It is not easy to calculate your savings! However, a rule of thumb is that if we design a system to cover 100% of your annual load then you will save at least 30% on your electricity costs ASSUMING SCE is your utility. Depending on how you finance your system, you can effectively fix your cost per Kilowatt hour at today’s rates and be protected against the historical 5% per year increase in electricity rates. This will mount up over the 30 years design life of a PV installation.
Increase in property prices
Typically, the impact on your property price is approx $4 per DC kW size of the system. For the typical 7kW valley system this amounts to $28,000...this is one of the most cost effective ways to increase the value of your property! BUT: It all depends on how you finance the system. These increase only apply to owned systems. Leased systems can be a negative value. This article is an extract from research carried out by the Lawrence Berkeley National Laboratory into the value of solar.
Environmental Benefits for Your Community
- Obtain energy from a clean, non-polluting, renewable, dependable source;
- A typical 5 kW system eliminates more than 6 tons of CO2 emissions annually. This is the same as cutting your weekly gas consumption by 25 gallons or planting more than 2.5 acres of trees;
- Feel good about doing your part to reduce the detrimental effect of carbon pollution on the planet;
- Be the envy of your neighborhood and a role model for your community.
- Freedom from increasing electricity rates...rates have gone up an average of 5.5% annually over the past 20 years. With a solar energy system you are insulated from the expected rate increases;
- Freedom from interrupted utility service (only with a battery back-up system or generator...not normally cost effective but will be in the future);
Bottom line: A properly designed solar energy system will save you money now, increase the value of your home, protect you against rising energy costs and give you a ‘feel good factor’ because you are doing the ‘right thing’!