Today, implementing a solar battery into your solar system can go beyond merely backing up your energy source. It can be a great source of savings and guarantee long-term energy security for your home.
Here’s everything you need to know about how using a solar battery in Connecticut can save you money:
Financial Benefits of a Solar Battery in Connecticut
Average Connecticut residents pay $0.18/kwH for electricity. For this reason alone, many people choose to embrace solar technology to avoid these soaring prices. Some people are still not convinced because of the high upfront costs of installation before earning savings. Well, the good news is: Connecticut has numerous programs that provide financial assistance, and RSIP is only one of them.
These are the financial advantages of installing solar batteries in Connecticut.
Provides Energy Security
Let’s say you already have solar panels installed in your home. While these can significantly reduce your electricity bills, they cannot guarantee sufficient energy for specific situations; Unless you invest in a trusted energy storage technology, of course. Solar batteries store excess energy to make room for power outages and inclement weather conditions. These batteries complete your solar system to withstand energy instability from your grid.
Reliable energy can save you from the inevitable soaring prices of the energy market in the future. As we all know, Connecticut has the second-highest average electric rates in the US, and it’s never getting lower. The reason for this is the state’s reliance on natural gas for energy and its limited capacity for pipelines that produce it.
Avoid Time-of-Use (TOU) Charges
Connecticut adopted time-of-use (TOU) charges to encourage residents and businesses to reduce energy consumption. TOU rates can add to the burden of expenses and affect overall utility rates. These are the additional per-kWh charges during “peak hours” when demand electricity is at its peak. Peak hours are late in the afternoon and night, making sense to utilize your battery during these times. This tactic allows you to avoid these hefty charges and earn savings.
Residential Solar Investment Program (RSIP) and Eversource’s ConnectedSolution Demand Response Program
The upfront installation costs can be overwhelming, so it is imperative to look into financing options. CT residents can benefit from RSIP to leap a solar-powered home. Qualified residents receive incentives that cover the solar energy system’s installation costs or expenses of leasing one from a third-party provider.
When adding batteries, Eversource customers can also take advantage of the ConnectedSolution Demand Response program. This program pays customers back for discharging their excess battery power into the ground during peak demand charges. A residential customer can expect thousands back through this exciting program.
The financial advantage of installing solar batteries can extend in the long run. While there is a significant reduction in your bills from day 1, they can also provide a return on investments within months of installation. For instance, you can take your savings towards your mortgage to increase the value of your home. Therefore, you can reduce extra expenses and pay off your mortgage faster all at once.
When is the Right Time to Install a Solar Battery?
You might think that just because your solar system works without one, acquiring a solar battery can wait. Waiting for solar battery prices to go down means another few years of increased bills. Each day spent without an elaborate solar system reduces overall efficiency. Therefore, the perfect time to install a solar battery is now.
