photovoltaic panels are not only an excellent way to cut down on your monthly
utility bill; they can also help you bring extra income into your home. Many
homeowners who install a solar panel are pleased to learn of the potential to
sell their excess energy to the electric company.
Solar photovoltaic panels are not only an excellent way to cut down on your monthly utility bill; they can also help you bring extra income into your home. Many homeowners who install solar systems are pleased to learn of the potential to sell their excess energy to the electric company.
While you may be deterred by the initial sticker price of purchasing and installing solar panels, solar panels are often a lot less expensive than they first appear. After adding rebates and tax incentives, many people can often install solar panels for only one third of the retail price. Depending on the size of the system, the panels can be expected to pay for themselves in 8-25 years.
Suppose you have a reasonably low home energy budget. Your panels have already paid for themselves. What do you do with that extra power coming into your home?
You have a few options. Depending on where you live and who your power supplier is, you will likely be able to strike a deal with the power company, allowing you to earn either cash or energy credit.
Earning a profit with excess solar energy is certainly a viable option, and many power companies already have programs in place to facilitate this. However, making a profit on excess solar energy depends greatly on where you live.
Homeowners in more southern and desert climates tend to collect much more energy than they can use and can easily make a profit by selling the excess to the power company. Homeowners in cloudier and more northern climates have a harder time meeting their own household energy needs, much less producing saleable energy excess.
Selling solar energy from your home solar panels is a viable financial incentive for many people. In cloudier and more northerly climates, however, solar panels will take longer to pay for themselves and won't regularly produce excess power. For some, the decision to install solar panels will remain largely environmental rather than financial.