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How Yo Can Save Money Using Solar Energy?

Solar energy represents an exciting option that allows you to save on the consumption of the electricity bill.

How yo can save money using solar energy?

Solar energy is one of the most suitable and easy to install renewable energy systems in your home. Today, it displays a good solution for energy saving. It is also an ecological and profitable option to increase the value of your home.

Among the different options offered by solar energy, the following types can be used in a home:

Save Money with Photovoltaic Solar Energy

A photovoltaic system (PV) is a power generator capable of converting solar radiation into electricity through solar panels or modules.

The photovoltaic system is equipped with a connection to an inverter. The inverter allows transforming the direct current generated by the panels into alternating current, which is the electric current used in the home.

The most widespread and used PV, the so-called on-grid, is connected to both the domestic electrical and electrical grid. In this way, you can reduce the energy usage from the grid.

Therefore, thanks to solar power, it is possible to self-produce your energy. At the same time, excess energy production can be used to inject it into the grid and charge at market price.

The modular system of solar panels installed on the roof meets the needs of:

  • Lighting.

  • Solar thermal systems can get domestic hot water ( DHW).

  • Heating.

  • PV systems can supply energy to drive home appliances.

Savings Through Solar Thermal Energy

Invest in solar thermal energy allows saving the consumption of thermal energy in a home. In this case, electricity is not obtained, but the heat of the Sun is used. This heat is used to heat sanitary hot water that is used, for example, for showering. It is also common to use it in heating systems.

Not having to heat water with conventional electrical appliances allows us to reduce electricity bills avoiding the electricity rate. Also, the energy efficiency obtained is higher than using photovoltaic panels when it comes to generating heat.

Solar Panels and Economic Savings

Solar energy systems that use solar panels are an excellent investment with long-term economic benefits.

According to some utility companies, solar photovoltaic is a plant that can have an average life of more than 20 years. During this period, it is possible to recover the initial cost of a PV installation.

Economic Benefits

Among the benefits obtained from installing solar panels are:

  • Less difficulty in maintaining electrical appliances. The hot water produced by the solar panels is ready to use as it is free of harmful substances such as limestone. Clean water guarantees its longevity over time, which will reduce costs to a minimum, subject to minor wear. 

  • It implies you can get savings on energy bills on less consumption of electricity generated with fossil fuels. Thanks to this system, we can produce enough energy for our needs without using electricity from the grid. Because of that, we avoid high costs in the power bill.

  • Solar panels also ensure good savings on the gas bill, which is a fossil fuel. If we install hybrid solar panels (thermal and PV), it is possible to generate saving in gas costs by 50%. Besides, greenhouse gas emissions are reduced.

  • It can make increase the building value. A solar thermal system allows increasing the level of energy efficiency of a property.

Economic Costs

The associated costs can be summarized in three points:

  • The upfront cost that includes modules, connectors, inverters, etc. (50% of the total);

  • Installation costs installation: design, installation, and testing costs of the system (about 30% of the total cost);

  • Administrative fees, that is, expenses for connection procedures (around 20% of the total).

In some countries, these expenses can be amortized thanks to tax deductions and federal tax credits.

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Published: March 17, 2021
Last review: March 17, 2021