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Solar panels are made up of photovoltaic (PV) cells, which convert sunlight into direct current (DC) electricity.
An inverter converts the DC electricity generated by solar panels into the alternating current (AC) electricity used in most homes.
A monitoring system sends information about your solar installation, including the amount of energy it generates, to your solar provider, to maintain optimal system performance.
Your solar system is still connected to a local utility grid to provide power after sundown. Connection to the grid also allows your solar system to return to the grid any excess clean energy your system generates during the day. A utility meter measures your power consumption and solar output.
How much can solar save you on electric bills?
Lower monthly electric bills
Solar is more affordable and accessible today because the cost of solar systems has dropped and a range of financing options can help you meet your goals. Whether you lease, take out a loan, or purchase a system, you may be able to start generating savings right away.
Solar can save you money by replacing electricity from the grid with solar electricity generated on your roof. The cost of solar plus any remaining electric bill amount may be lower than what it was before solar.
Check your home’s savings
Key factors that determine whether you can save by going solar
Reduce or even eliminate your electric bills
Electricity costs can make up a large portion of your monthly expenses. With a solar system, you’ll generate your own free power
Return on Investment
Solar panels are an investment, with returns rivaling those of more traditional investments like stocks and bond. Thanks to substantial electricity bill savings, the average homeowner pays off their solar panel system quickly and sees a return on investment well beyond what they paid.
Increase your home value
Multiple studies ( especially in Houston, San Antonio & Dallas ) have found that homes equipped with solar energy systems have higher property values and sell more quickly than non-solar homes. And as home buyers become more educated about solar, demand for properties equipped with solar panel systems will continue to grow.
In the past ten years, residential electricity prices have gone up by an average of 3% annually. By investing in a solar system now, you can fix your electricity rate and protect yourself against unpredictable increases in electricity costs. If you’re a homeowner with fluctuating cash flow, going solar also helps you better forecast and manage your expenses.