How Can You Save Money With Solar Batteries?
July 7, 2022
More and more people are shifting towards solar panel systems, but there are very few who purchase solar batteries with their systems.
A solar storage system is the best way to store energy for your home or business in the event of a power outage. Still, people don’t get solar batteries installed with their solar systems.
There are many benefits of solar batteries. The biggest of all is the peace of mind you get by having an emergency supply of solar energy.
Needless to say, solar batteries will certainly save you additional money and will pay for themselves over their lifetime. But make sure you hire a certified solar panel installer to install your solar panels.
Also Read: How Do Solar Panels Work On Cloudy Days?
But many people are still skeptical about whether or not they should install solar batteries with their solar systems. So, if you are also one of them, then keep on reading as in this blog post, we will talk in detail about how you can save your money with solar batteries.
Common Questions About Solar Batteries
There are some common questions that you will need to ask in order to determine how much you will be able to save with solar batteries.
Here are some questions that you need to ask your solar panel installers to determine how much you will be able to save with an off-grid solar system:
Do You Have One-To-One Net Metering?
In most places in Canada, if you have a solar system, you will be placed on a net metering rate plan.
However, there are still many provinces that don’t offer one-to-one net metering, which means that your utility company will charge you more for each unit of electricity that you take from the main grid and will pay you less for each unit of solar energy that you give back to the grid.
So if you don’t have any net metering policies available to you at all, then installing solar panels will not be beneficial, as the net metering is the foundation policy that lets you save with solar.
Hence, if you don’t have the facility of net metering in such regions, installing solar batteries is the best way to unlock the true benefits of your solar panel system.
Because with solar batteries, instead of sending excess electricity back to the grid, you can store it in your battery and save a lot of money on your electricity bills.
Which Storage Incentives Are Available To You?
If you are planning to install solar batteries, the first thing that you need to know is whether or not there are any storage incentives available for you.
The best storage incentive in the case of solar energy storage is the federal investment tax credit (ITC), which currently provides a whopping 26% credit on your taxes for the cost of your solar batteries.
But to be eligible to receive the ITC, you need to have a battery that can be changed by a renewable energy resource like solar panels. So if you just have a battery and are charging it from the grid, you won’t be eligible for the ITC.
Do You Have Demand Charges?
Demand charges are not applicable to residential electricity rates, but they are a part of the utility rates for industrial and commercial users throughout the country.
The way these charges are calculated is that your utility company determines the hour, fifteen-minute, or even five minutes in which you had the highest demand of electricity from the power grid and then charges you for the whole month based on that single moment.
However, solar batteries are a great way to mitigate demand charges, and they can help you significantly reduce your electricity bills. So if you run a commercial or industrial business, be sure to install solar batteries with your solar system.
About Sundawg Solar
Sundawg Solar is Saskatchewan’s most trusted and reliable solar panel installation company providing durable solar energy solutions. We offer numerous services, including solar solutions for residential, commercial, rural, and off-grid solutions and energy audits. We take care of everything from start to finish and leave no detail unattended. Our job is to ensure that our clients are 100% satisfied with our work. Get in touch with us for more information.