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The main benefit of PV installations is the lower power bill, but the amount of benefit will depend upon the quantity of solar power which can be generated based on the available conditions as well as the method by which electricity is charged by utilities.
The first thing to consider is the level of solar irradiation that are available for the house's geographic area. In the case of solar panelsfor solar, getting nearer to the equator tends to be advantageous, but other factors should be taken into consideration. It is thes National Renewable Energy Laboratory (NREL) creates maps of all of the U.S. showing solar irradiation levels. The tools available on their website provide comprehensive solar data for specific areas in the U.S. 5
Similar maps and information are accessible in many other countries typically from government environmental agencies or renewable energy groups. It is equally important to consider the house's orientation. For rooftop solar arrays, choosing a roof facing south free of trees or other obstructions blocking sunlight will maximize the amount of solar energy. If this is not possible then panels can be put on supports that are external and placed outside the house and incur additional expenses for additional cables and hardware.
The second aspect to be considered is the time of solar power generation and how utilities are charged for electricity. The solar power generation process occurs mostly in the afternoon, and is more prevalent during summer, which is correlated well to the overall demand for electricity in warm climates , since it is during these times that air conditioners use their most power. Thus solar power is highly valuable since the other techniques of producing energy (often natural gas powered power plant) that are used to meet the demand for energy tend to be costly.
However, many utilities charge residential customers a flat price per watt of electricity regardless period of consumption. In other words, instead of reducing the high cost of peak electricity generation solar panels installed by homeowners simply offset the cost they pay in electricity. It is more affordable than that of the average cost of electricity production.
However, several utilities within the U.S. have introduced pricing programs that permit homeowners to be charged various rates during the course of their day, in order to match the actual costs of electricity generation at different times. This implies higher prices in the afternoon , and lower rates during the night. Solar PV arrays could be extremely beneficial in regions that have this kind of variable rate for time is employed since the solar power generated can offset the most expensive electricity.
The exact benefit for a homeowner is dependent on the precise duration and frequency of rates that are impacted under this plan. In addition, some utilities in regions have pricing structures that change over various seasons due to variations in demand during the season. The ones that have higher rates in the summer months make solar power more expensive.
Certain utilities offer tiered pricing programs in which the cost of electricity increases as consumption grows. With this type scheme, the benefits of a solar system could be contingent on the power usage of the house; in certain areas with price increases that are dramatic with increasing consumption, larger houses (with massive energy demands) could benefit the most from solar panels that can offset marginal costs of high-cost consumption.
Another advantage of a solar array is the possibility of selling the electricity generated by solar to utility. For the U.S., this is accomplished via "net meters" plans, which let homeowners utilize the power that they have put in the grid (when the electricity generated by an array that is solar is higher than household consumption of electricity) to offset electricity consumed in other times. The monthly electric bill represents the net energy consumption. The net metering rules and guidelines vary from region to region. Homeowners are able to look up the DSIRE database and call their local utility for more details.
The other benefit is the possible impact on the value of homes because of the installation of an array of solar panels. In general, it's plausible to conclude that solar panels will increase the value of homes.
The first is that there is a clear economic benefit of having lower electric costs as a result of an array of solar panels. The second reason is that the trend towards "green" living implies that there is a rising demand for homes with less carbon footprint and that are powered with renewable energy sources. Additionally, purchasing a house that is already solar-powered means that the cost of solar is covered (for the buyer) by the mortgage. This financing option helps make solar more affordable for buyers of homes than purchasing the house with no solar, and then installing the solar array.
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