5 WAYS TO SAVE your electric bill by using SOLAR PANELS

SAVING MORE energy bills by using SOLAR PANELS

There is evidence that by installing solar panels, you can cut costs on your energy bills. From storing less expensive energy to running your vehicle off sunlight, here are the five ways to save money on your energy costs through solar panels.

1. Utilizing the generated SOLAR ENERGY

In their most basic form, solar panels allow you to reduce the cost of your energy bill by providing your home’s green energy to use instead of purchasing electric power directly from the National Grid. While solar energy will not be able to pay for your energy bill’s total cost, solar panels with battery storage can handle more than 90% of your energy requirements.

Considering that the average UK household consumes 3100 kWh of electricity per year and the current price limit established at Ofgem with a price of 34.0p/kWh in electricity costs, the electricity bill is currently running at an average of PS88 per month (PS1054 per year). With a 4-kW solar panel and an solar energy storage system in your home, you could produce 3,600kWh of electricity, which will offset 76 per cent of your consumption. It could save you an average of PS1,524 per year (PS127.8 per month) on energy bills for the next 25 years, not even including the cash you’ll get through the SEG tariff.

2. STORING CHEAP ELECTRICITY

One of the significant advantages of an in-home battery storage system is that it can charge the battery with lower electricity costs during non-peak hours due to Economy 7 tariffs for energy like Octopus Go. By setting your battery during intense demand, you can use this saved energy during the day when the energy rate per unit is at its most high due to the need. This is also a fantastic method of boosting solar batteries even when the generation isn’t as strong, particularly during winter. How much can you make with this?

Suppose you were to set up a 9.5kWh GivEnergy battery to fully charge it at its current Octopus stop-peak price (November 2022) at 12p per kWh. That would cost you PS1.14. If you were to use 9.5kWh of energy using their regular price of 35.06pper kWh, that equivalent amount of energy would be priced at PS3.33. This is almost three times more expensive.

Solar batteries can be charged. This is only one of the ways solar energy could offer you additional reductions in energy costs.

3. HOT WATER HEATS UP

If you have hot water tanks in your home and solar panels, you can cut down on your energy bills by using solar power to heat hot water almost for no cost. Installing an immersion diverter like energy Eddi can reduce the energy you export. A typical PV system will emit anywhere from 10 to 20 per cent. For a specific 4kW solar panel, this could be about 360kW of power. Utilizing this surplus energy to heat the hot water tank, you will save PS122.40 per year in fuel.

4. AVOIDING CHARGES FOR ELECTRIC CREDIT CAR

As increasing numbers of homeowners move to EV ownership and home electric car charging is now a common practice. While one primary reason to get an at-home EV charger is its price effectiveness, charging your car using the solar panel system is significantly more effective.

Considering the average annual driven mileage of 8,100 miles and the energy cost per kWh is 34p, it will cost you between 9.1p and 14.2p for each mile (depending on the type of electric vehicle) to charge your home. It is possible to add PS750 or PS1,150 to the cost of your electric bill. But, by installing solar, you will reduce your solar energy bills by charging your electric vehicle from sunlight instead.

5. SELLING YOUR ENERGY RIGHT ACK to the Grid

Another excellent way solar energy can help you reduce energy costs is by paying for excess energy. If your solar panel and batteries are installed, there are times when your home doesn’t use all the power your PV panels are producing, and your batteries are also fully charged. In this case, you’ll generate “surplus”, the extra energy that is then transferred back into your National Grid.

Your preferred energy supplier will pay you for this energy via a Smart Export Tariff. This is a fantastic method to earn cash to pay the remainder of your energy bill.

A 4-kW system can, on average, produce around 3,600kWh of power each year. Since you could export as much as 10 per cent of the solar energy you generate (approximately 360kW), the typical solar system owner could expect to earn around PS54 per year in SEG-related payments. Presently, Octopus Energy offers the most competitive SEG rate, which pays 15p/kWh for Renewable energy that is sent back to Grid.

INSTALLING SOLAR PANELS to slash your energy bill

If you’re a UK business or homeowner looking to find out how solar energy can help you save money on your energy bill, get in touch with our green team, today at WhatsApp: +86 15601782817 or Email:sales@myliontech.com. As the UK, the leading Solar panel installers, we provide free designs for systems, quotations, and a savings forecast to help you understand how installing solar panels can cut your energy expenses and when the payback period will begin.

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