Time-of-Use Rate & Solar Storage
Every year we see instances of utility companies increasing electric rates, across the country. Recently, San Diego Gas & Electric (SDG&E) increased their peak cost per kilowatt hour to 52 cents!
Time of use pricing was approved for use by the California Public Utilities Commission in order to encourage customers to use high-energy appliances when grid is low. This pricing is typically divided between peak and off-peak time frames.
For most people working during the day, this means most of your energy consumption takes place in the evening during peak hours – when the price of electricity is at its highest. Because of this rate structure, electric bills can be expensive depending on the time of day energy is consumed. In other areas of the country, electric rates are typically fixed no matter the time of day.
How does a solar system plus battery save money?
Your solar panels generate excess energy throughout the day and this surplus energy is stored in the battery. A smart battery is programmed to release stored energy during when power prices are highest in the evening. By storing surplus energy from your solar, then using it to power your home when rates are highest, you can save over $1,000* a year.
Factoring in federal tax credits and California’s generous battery incentives, a solar energy storage solution can pay for itself in as little as 2 years!
With a battery you can have Solar on Demand™ – clean, affordable solar power when you need it. Are you interested in learning more about solar and battery backup? Read about the Key Benefits of a Storage System and find out how much you can save with solar and a battery.