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Lower My Electric Bill Using Solar Panels

How Can Solar Panels Reduce My Utility Bill?

Depending on the size of your solar panel system and your family’s electrical usage, your electric bill can drop significantly.  Generating your own power reduces your electric bill in two ways: 1) Power from the sun is cheap; in fact, it’s free! A solar power system on your roof can take advantage of the sun's rays and feed that energy into your home to use.  2) Your home becomes a power station when the sun is out! When you’re not consuming energy produced by the solar panels, that energy is fed back to the utility grid, earning you credits.  When you later draw power from the utility company, you end up only buying lower tier, cheaper energy.  Paramount Energy will help design a system that’s right for your home and optimize the system to harness the sun the best way possible.  

How Do I Sell Excess Power to the Utility Company?

When you choose to go solar, the utility company puts in place a net-metering agreement.  Net-metering is a fancy way of saying “spinning your meter backwards.”  When your solar power system generates more power than your home can immediately use, the extra power goes back into the grid and the utility company will buy that power from you.  At this time, your system will also be producing power during peak hours, where the most expensive electricity is sold.  This is your biggest advantage. While you’re at work, your system is feeding the grid, earning you huge credits. When you come back home during off-peak hours, you can buy energy at cheaper night-time rates!  

What Happens When the Utility Company Raises Its Rates?

The goal of a typical solar power system is to keep you in the lower tiers.  These lower tiers are regulated by the government and stay stable, unlike the more expensive tiers that change frequently.  When you switch to solar, your system cuts into the tiers that are raised the most – meaning you don’t pay what everyone else pays since you’re generating that power yourself.  As utility rates go up, you continue to sell high and buy low and increase your savings for years to come!

How Can I Save Money By Leasing?

With the lease option, there are no upfront costs so you start saving the day your system is connected to the grid.  The combination of a smaller electric bill offset by the solar panels on your roof and a low monthly lease payment is typically less that what you’re paying the utility company today.  As utility rates rise, your savings increase year after year.

What Am I Responsible For?

Solar Power systems have no moving parts, so there is very little maintenance required.  We offer extensive warranties and the panels are exceptionally well made so that you don’t have to worry about spending money on maintenance.  With a lease your repairs, replacement, maintenance and insurance are all included as part of the service.