Why a Grid-Tied Solar System Makes Good Financial Sense
by Cody McGowan, on Jun 12, 2020 7:36:00 AM
Make Money through Net Metering with a Grid-Tied System
Cash in on the biggest moneymaker in the galaxy – the sun! When you have a grid-tied solar system on your home in Decatur, IL, you not only reduce your dependence on the utility company, but you make money from the sun’s energy. Through a process called net metering, your utility company pays you for the electric power your panels produce.
Even though a grid solar panel system doesn’t allow you to be completely energy independent (unless you have a solar battery backup), it significantly reduces your electric bill. Read more to find out what a grid-tied solar system is and how it can save you money through net metering.
What Is a Grid-Tied Solar Panel System?
Most solar systems are grid-tied, which means they are literally tied into the existing power system provided by a utility company. With this type of system, you generate electricity when the sun is out. Any power you aren’t using goes back to the electric company as a “credit.” You are essentially selling your power to the utility company and making money on the solar energy you generate.
However, when the sun isn’t shining during the evening or on a cloudy day, you buy power from the grid as usual. A grid-tied solar system is usually the ideal economical choice for most homeowners. Going completely “off the grid” is more costly, because you must rely on expensive solar batteries and other components. Still, for some people, living off the grid feels good and takes priority over saving money. After all, being able to produce your own energy provides a sense of security.
For those interested in saving energy and making money in the process, the best option is a grid-tied system. Instead of relying on expensive batteries when the sun isn’t out, you’ll use the power company as your “virtual battery,” which is a lot less expensive than an off-the-grid system.
Are You Ready to Save Money with Solar?
When Summit Solar installs a grid-tied system on your home – after performing a comprehensive shading and electrical analysis – you’ll start seeing savings immediately when you turn on the system. In fact, your first month’s electric bill might surprise you – in a good way, of course! Let’s say your typical electric bill is $150 a month. With a solar panel system, you could see your bill drop to $50 or less.
Not only could you potentially see a big decrease in your bill, but you’ll get paid in credits for the power you send back to the utility company. This net metering program is what makes solar cost-effective and financially beneficial for you. The credits you accumulate can be rolled over from prior billing periods and used for electricity usage to the end of your annual net metering period. Immediate savings from solar AND net metering – it’s a win-win situation!
Want to find out more about net metering and a grid-tied solar system? Let Summit Solar answer your questions and walk you through the process. Call us at 888-884-3557 or complete our online contact form.