Want to Learn How to Make the Power Companies Pay You?
At the end of each month, we all get that dreaded utility bill. Hundreds of dollars are spent each month on just powering our homes and the power companies reap the benefits of our monthly shell out. But what if you could get the power companies to pay you instead? Luckily for you, I have a little known secret that could no only save you money on utilities but actually make money and it all starts with solar energy.
Where Does Our Power Come From?
The infrastructure revolving around the energy sector of business is massive, but mostly works on what industry professionals would call, “The Grid.” The grid, also known as the power grid, is the network of generators, cables, and transformer equipment that bring electricity into your home from the places that it is produced. For decades, these sources have been power plants, usually powered by non-renewable resources such as oil, coal, and natural gas. As we have also seen, these energy resources can be harmful to the environment and life around the world.
How Do You Come Out On Top with Renewable Energy?
Simply put, when solar energy is generated through PV cells on buildings using solar energy to power their systems or homes, the energy produced is often much larger than what the business or home needs. All of the excess energy is funneled into the grid that your traditional, conventional power resources usually would supply into your business or home. This excess energy is counted as a ‘credit’ on your monthly bill, and as a business or homeowner will see over time, the credits will outweigh the amount of conventional energy needed during non-peak hours when the sun isn’t out.
Being integrated into the grid allows for homeowners to track and bank on the extra power they are providing to the electricity companies in their immediate area because electricity companies don’t care where the energy is coming from, whether they produce it or you do, they just distribute it throughout the grid as necessary. By implementing solar panels, you are acting as a small time energy subsidary for electricity companies in your area and therefore are compensated for the energy costs they are saving by redistributing your energy produced and dispersed to other homes.
Where Does the Paycheck Come From?
The net metering is a process by which a single, bidirectional meter spins forward to track the electricity a seller takes from the grid and backward to meter the excess energy they produce. With solar panels on your business or home, your meter will spin backward more than forward and the power provider will pay you the retail value of the excess energy instead of the wholesale value because the retail value is what they are charging people with conventional energy resources.
In short, you are running a side business; selling retail mark-up prices for energy that you helped produced through renewable energy methods. On average, energy producing homes make approximately $3,000.00 per year from a combination of REC sales (money from reselling energy back to the electricity provider) and government incentives for having solar panels on your business or home.
If your system initially costs around $20,000.00, you will have paid of the system in approximately 6 years, which provides you with profit from that point forward. Some technologies in PV cells allow for approximately 20 years of usage, making a great investment for the future of homeowners and business owners looking to increase the equity of their business properties or their homes.