5 Goals You Can Achieve by Going Solar
Are you considering installing solar panels? There are many great reasons to do it. However, the best reason for one person may not be the same reason for you. This variance is why no two MOXIE solar systems are built the same. Each is custom-designed by our in-house solar engineers to achieve your unique goal(s) based on your unique location.
Identifying your goals will help you get the most out of your system while also ensuring you don’t over-invest. Think of it as the classic story of Goldilocks and the Three Bears. A system that’s too weak, even slightly, won’t reach your energy production goals. One that is too strong could unnecessarily hinder the ability to recoup your investment (most systems reach a break-even point in about 8 years). You want the system that’s “just right” for your goals.
So, why install solar panels? Here are five impressive goals you can achieve by installing solar panels for your home, farm, or business.
1. Offset Personal Electricity Consumption
By installing solar panels to offset your total electricity consumption you become less impacted by future rate changes (you own your energy instead of renting it) and you may be able to pay for the initial system investment with the avoided utility bills payments. To achieve this, it’s important that you install enough panels to match your electrical usage without oversizing the system.
2. Manage Future Electrical Costs
Maybe you’re focused on locking in future energy expenses. Residential electricity rates have increased a whopping 15 percent over the last 10 years! Even if you can’t install a system that’s large enough to offset all your energy consumption, offsetting even a portion of consumption will help protect you from those inevitable rate increases. This is especially valuable for farms and businesses because it makes financial planning much more simple and accurate. In this scenario, it’s all about figuring out what upfront cost you can comfortable incur.
3. Create New Revenue Stream
That’s right, installing solar panels can result in a nice little revenue source if you plan your system size right and take advantage of solar incentives. Solar Renewable Energy Credits (SRECs) is one way you can earn money from solar panels. With a large enough system, you can essentially become your own energy company and sell any excess solar energy to the utility companies.
4. Protect the Environment
We all know that installing solar panels results in the production of clean and renewable energy. It’s good for ourselves and for our planet. For some, eliminating their consumption of dirty fossil fuel-generated energy is reason enough. For others, it’s just icing on the cake. Either way, when you install solar you’re directly impacting the health of our beautiful planet in a positive way.
5. Ensure a Backup Power Source
Our lives are highly dependent on having a source of electricity. Without it, connections are lost, food goes bad, and lights go out. If you want to avoid losing power from a storm or other unforeseen incident, consider installing energy storage for your solar panels. Not only can backup solar batteries keep the lights on, but they can also maximize renewable energy usage if there are days when your panels aren’t able to produce enough.
To learn more, see our recent article on how to protect yourself from power outages with solar battery backup.