I used to dread opening my monthly energy bill. As prices kept rising, it seemed like there was nothing I could do to get my costs under control. That all changed when I discovered solar panels. Installing solar panels on my roof and learning this simple hack allowed me to dramatically reduce my energy bill. Here’s how you can do the same.
The Benefits of Going Solar
Going solar provides many benefits beyond just saving money on your energy bills:
Slash Your Energy Bill
The main reason to go solar is to reduce your electricity costs. Once your solar panel system is installed and connected to the grid, it will produce clean energy during daylight hours. Any excess energy your panels produce gets exported back to the grid. Your utility company will credit you for this surplus energy, helping offset the electricity you use at night or during cloudy weather.
This means you end up buying much less electricity overall. By producing your own power, you can potentially cut your energy bill by 50% or more. The more energy your solar system generates, the greater your savings will be.
Take Control of Rising Prices
Electricity prices from the utility company continue to rise each year. In the last 10 years alone, the average residential electricity rate has increased by over 30% nationwide. By locking in a portion of your energy costs with solar, you take control and create certainty about what you'll pay in the future. Solar insulation protects you from unpredictable rate hikes.
Increase Your Property Value
Multiple studies have shown that solar panels can increase your home's value. One Lawrence Berkeley National Lab study found that selling a home with solar panels installed resulted in a 4% higher sale price compared to similar non-solar homes. Solar also makes your property more attractive to buyers interested in energy independence and sustainability.
Reduce Your Carbon Footprint
Generating your own renewable energy isn’t just good for your wallet, it’s also good for the environment. Each kilowatt of solar energy produced reduces your home’s reliance on fossil fuel power plants. Over the life of your solar system, you’ll avoid tons of carbon emissions. Going solar is one of the most powerful steps you can take to reduce your carbon footprint.
Should You Buy or Lease Your Solar Panels?
Once you’ve decided to go solar, the next big decision is whether to purchase your solar system or sign a solar lease agreement. Here are the key factors to consider:
Buying Your System
- You own the panels - This means you can claim federal tax credits and incentives
- Panels add value to your home - Having owned panels makes solar more attractive to buyers
- Long term bill savings - Once paid off, all the power generated is free
- Pay off panels in as little as 6-10 years - After breakeven period, enjoy free solar power for the remaining system lifetime
Leasing Your System
- Little to no upfront cost - Typically just pay first month's lease payment instead of thousands upfront
- Stable electricity rates - Lease rates may rise 2-3% annually vs. utility rates rising 5% or more
- Typically no maintenance costs - Lease often includes maintenance, repairs, insurance
- No concerns over system production - Leasing company guarantees a minimum amount of energy
When comparing buying vs. leasing, run the numbers for both options while accounting for all incentives and financing terms. Buying often makes the most financial sense long-term, but leasing can provide lower short-term costs.
Choosing the Right Solar Company
The solar company you choose will make or break your experience going solar. Here are the key factors to look for:
Experienced Local Installer
Choose a company that has installed solar in your area for many years. They’ll be familiar with local building codes, permitting processes, and utility requirements. Local installers also make any needed maintenance and repairs more convenient.
High Quality Equipment
Ensure the installer uses premium solar modules and inverters with strong warranties. Top brands like LG, Panasonic and Enphase are proven performers. Cheap panels may fail prematurely.
Great Customer Service
You’ll be working closely with the solar provider for months. Find a company known for responsive communication and professional, courteous installers. They should make the process smooth and hassle-free.
Competitive Pricing
Get at least 3 solar quotes to compare pricing. Beware of quotes that seem too good to be true. Make sure all project costs, incentives and financing terms are clearly explained.
Strong Reputation
Choose an installer with a proven track record and rave customer reviews. You want a company known for transparency, honesty and keeping their promises.
Ordering the Right System Size
Getting the right solar panel system size is critical to maximizing your bill savings. Ordering too small of a system won’t produce enough energy. Going too big can waste money on excess capacity you don’t need. Follow these tips to get ideal system sizing:
- Analyze your electric bills to understand your average monthly and annual usage
- Account for future usage growth from buying electric vehicles, new appliances, etc
- Model different system sizes in PVWatts to predict energy production
- Aim to offset 75-100% of your current electricity needs
- Consider adding battery backup to store excess solar energy
Also take into account available roof space, shading objects, and local building codes. Your solar installer will assess all these variables and design an optimally sized system tailored to your home.
Leveraging Solar Tax Credits and Incentives
One of the keys to making solar affordable is taking advantage of available tax credits, rebates, and incentives. Here are some to look into:
- Federal Solar Tax Credit - Offers a 26% tax credit for systems installed through 2023
- State/Local Rebates & Incentives - Check Database of State Incentives for Renewables & Efficiency for options
- Utility Rebate Programs - Many utilities offer a rebate for installing solar
- Low Interest Loans - Non-profit and state-level loans provide low cost solar financing
Your solar provider will help you identify and complete the paperwork for any incentives you qualify for. The combined savings from available tax credits, rebates and financing can reduce your out-of-pocket costs by 50-75%.
Solar Panel Hack to Maximize Energy Production
Now that you know the basics of going solar, here’s the little-known hack that can help maximize energy production from your system.
Solar panels produce the most energy when they face the sun directly. As the sun moves across the sky throughout the day, fixed solar panels become less efficient at certain angles.
The hack is adding a solar tracker to your ground or rooftop array. Solar trackers have automated motors that slowly rotate your panels to follow the sun’s movement. This keeps panels perpendicular to sunlight for more hours of the day, especially in mornings and evenings.
Studies have found that trackers boost solar energy production by 25-40% compared to fixed panels. So if your fixed array would produce 10 kWh per day, adding trackers would increase that to 12-14 kWh. That extra 2-4 kWh adds up to hundreds of dollars in additional solar savings per year.
Some key benefits of solar trackers:
- Increase total energy generation by 25-40%
- Maximize power production during valuable morning/evening hours
- Boost output during winter months when sunlight is limited
- Require less panels to achieve the same energy production
- Qualify for tax credits just like regular solar panels
Solar trackers do cost more upfront than fixed systems, but the return on investment is well worth it. If maximizing your solar energy production is a priority, pay the premium to add trackers.
Go Solar and Slash Your Energy Bill Today
I never dreamed I could reduce my electricity bill so much by producing my own solar power. This little-known solar panel hack using trackers supercharged my energy savings.
Going solar provides many financial and environmental benefits beyond just slashing your energy costs. By choosing the right solar company, properly sizing your system, and leveraging incentives, you can make the transition affordable. The decade of bill savings and energy independence you’ll enjoy makes solar one of the best investments you can make in your home.