How to Save Money with Solar System?

The electricity consumption in homes differs based on home size, number of resides, home wall insulation, heating/ cooling system presence/ capacities, number/ type of electrical appliances, and of course the life style. So, large homes with pools, and air conditioning units will exhibit high consumption with high electricity bill more than small homes, and always the home owners are looking forward to reduce the consumption/bills which is critical in large homes. In fact, there will be 2 main opportunities to reduce electricity consumptions and save your money.

First: Build your home solar photovoltaic system with a high efficiency solar inverter and transfer your large power usage equipment to day light hours to use the free electricity generated from the solar system. It makes sense to use as much electricity as possible during the day light, so turn on your washing machine, dishwasher, pool filters and other high consumption equipment when the sun brightly shines.

Second: Improve your home electrical equipment energy efficiency and reduce electricity wastes. If you go with the first opportunity "solar system construction", then in addition to reduce or even eliminate electricity bills you will get additional advantages from the solar feed-in tariff, which means the surplus electricity generated from your solar system and fed back/ exported to electricity grid, as the electric utility will pay for each kilowatt hour electricity generated and fed into the grid.

Power consumption and solar PV generation relationship

The price of such exported electricity differs from one retailer to another, so you need to contact with them if you want to save more money, especially the one in your area. And choose the plan which is suitable for your circumstances. Whether you export high electricity amount and import low amount or conversely, export low amount and import high electricity amount. But unfortunately, in some areas, not all retailers pay for the electricity you export, so you need to check this point before constructing the solar photovoltaic system, and during making your solar system economic feasibility study.

However, feed-in tariff is an important factor affecting our choice of the solar photovoltaic system power capacity, as suppose for example that we shall construct 3kW solar photovoltaic system in our home, and this capacity is sufficient to our home appliances electricity needs, but we still have the choice to construct 6kW system (7000W solar inverter or 8000W solar inverter should be chosen) with paying additional costs of approx. 3000USD. The higher 6kW system will export 14kwh on average per day to the electric grid, and suppose that exported kwh price is 16 cent, then our profit per day = 14*16= 2.24‬USD or 817.6USD per year.

Consequently, the oversizing solar photovoltaic system will pay itself in 3.66 years, and for its remaining life time which usually considered as 20 years, we will get pure profits.

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