What Happens to Your Bills After Installing Solar Panels?

What Happens to Your Bills After Installing Solar Panels?

What to anticipate after installing a solar system is what we’ll go through with you. We’ll also go over how it will affect your electricity cost. 

Your electric expenses will drop significantly. 

Your solar panel system often generates more power throughout the day than the residence requires. The electric grid receives this surplus export. According to a policy known as net metering, which is applicable in most states, your utility provider must credit your account for the energy your solar system outputs at the same price you would pay to buy it. 

For instance, if you pay 14 cents per kilowatt-hour (kWh) for electricity, your utility would be required to credit your account with 14 cents for each kWh that your solar energy system exports to the grid. 

Another benefit of net metering is that you can roll over any surplus credit into future months’ energy bills in months where your system exported more power than your residence drew. Depending on your utility, you can also have the choice to receive payment towards the conclusion of your yearly billing cycle. 

Without the need for batteries, net metering enables you to receive the total value for all of your solar production. Most homeowners who install solar systems see a reduction in their energy costs of 80% or more, saving them tens of thousands of dollars throughout their solar system. That implies that they not only recoup the system’s initial investment but also save substantially more. 

There are other state and municipal incentives in addition to net metering, the federal solar tax credit, which is worth 26% of the cost of your solar system. 

Don’t let a few bad apples dissuade you from installing a solar system on your house if you haven’t already! In America, hundreds of solar installers are a total delight to work with.