Probably Not. Solar will drastically reduce your utility bill in most cases, however.
In some rare instances, home solar energy generation can replace utility services but this is the exception rather than the rule. Unless you completely disconnect from the grid, your utility company will likely have some basic charges. This makes sense as utility companies have costs and spread them among their total base of customers. The power supplied by the utility company will be there for you if you ever need to pull power from the grid.
What is Solar Net Metering and How Does it Work?
photo source: wikipedia.org/
Utility companies also have benefits for solar power generators in enabling your ability to be able to sell power back to the grid. Not all utilities have this capability known as Net Metering but many do, and more states are offering incentives and implementing legislation to promote this practice. Quite simply, Net Metering enables you to provide power back to the grid, and for your Utility Company to pay you for that power. When your solar system creates excess power, you can store it with batteries like the Tesla Power Wall and then when those batteries are at capacity, the excess can go back to the utility company. Like most things in solar power generation today, the price you receive depends on your utility company and local and state regulation and rates.
The real benefit of a solar energy system is becoming less reliant overall on your utility company for power. A solar battery storage system will help to provide steady and reliable power no matter what the weather conditions are and by remaining connected to the grid, having the peace of mind when you need to draw power from the grid.
So, how much should I expect to pay for electricity when I have a solar power system?
There are many factors that will affect the monthly electric bill for solar energy users ranging from the aforementioned utility company service costs to weather and sunlight exposure and weather will all factor in. What won’t change is your cost to generate your electricity and that will reduce what you pay for electricity overall. With the addition of a battery system, electric costs will be even lower. Today, the average homeowner will save $10,000 – $30,000 over the lifetime of their solar system in electricity costs.
Many people ask why solar systems are so expensive. Covenant Solar And Roofing’s Louis Settle breaks down the costs. Keep in mind that electric costs are very likely to keep rising and the savings will increase over time.