Technology

Why a ‘smart’ approach is best for implementing solar energy into your home

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Solar energy is the future of energy usage, but a common misconception is that it is currently too expensive to fully implement into your home. This couldn’t be more untrue.

When combined with energy storage and a smart energy system, solar energy has the potential to provide benefits that far outweigh its costs.

Solar + storage, when combined with a smart system to take control of your energy usage, carries with it many benefits – both for your wallet and the environment. Here are seven reasons why you should switch over to smart solar + storage.

You save more money

This is by far the most important factor, as the installation of a solar + storage smart system can save significantly on your electricity bill. In most places around the world, electricity rates and conditions vary from region to region.

In very rare cases, you can send energy back to the main grid. Even if the electricity company buys back the energy that you create in excess of what you use, the buyback is generally less than what the energy is sold for. The best thing for you to do in this situation is to store as much as you can.

But what if there was a way to make money off of this excess energy?

Imagine if you could help out your neighbor by selling them spare energy at a price higher than what you would get if you simply sent it back to the electricity company. At the same time, this neighbor is able to buy energy from you at a price lower than the market price.

Enter, the smart energy system to handle these transactions for you, optimizing the way you spend your electricity. With a smart energy system, you can automatically find the most suitable counterpart for electric energy sharing from an economic point of view. This way everybody wins.

Additionally, you can also let the system use your battery capacity to help stabilize the whole power grid and get remunerated for your efforts, turning your energy production into an easy new revenue stream.

No sun? No problem

As the name suggests, solar energy obviously needs sunlight to be operational. But this doesn’t mean that places not known for excessive sunlight are unable to take advantage of solar energy.

Yes, it’s true that sunny California is more convenient for solar installation than, for example, New York. But there are other factors at play here – the savings highly depend on electricity prices from your specific utility provider.

This is true all over the world. These fees keep growing from one year to the next so it’s best to start saving sooner rather than later.

In addition to the overall cost of electricity, there are various incentives, both local and national, that can pay off a big part of the installation cost.

Unlike rapidly rising electricity prices, the cost of solar panels, batteries, and inverters are experiencing the inverse – they are currently cheaper than ever before.

Efficient energy production and usage

With a smart energy system, energy usage is more efficient than ever. The system automatically takes advantage of every watt that your solar panel produces, storing as much green energy as you can handle while sharing all the surplus energy across your personal grid for the best possible value.

As previously stated, energy from utility companies can run on the expensive side: solar + storage allows you to be self-sufficient when it comes to your energy. Even better, the smart system creates patterns from your energy-behavior, taking into account multiple data points from servers while also making predictions.

For example, if you usually go out on Wednesday night, and you know that Thursday will be a sunny day, the smart system will store just as much energy you would need for your morning routine, while unneeded energy is shared efficiently.

The next day, your battery will be freshly supplied with some needed sunshine, starting the cycle over again.

You have control over your most energy-consuming devices

Besides controlling the production of solar energy, the smart energy system is able to control and monitor every device on your system, ensuring that there is no unnecessary energy waste.

For example, a smart energy system can easily manage an electric boiler, a typically wasteful device.

The system can recognize that the boiler is wasteful and make sure that no superfluous energy is spent when it’s not being used.

Self-sufficiency: lowered risk of power outages

A further benefit is a decrease in the risk of blackouts. Because you are able to rely on your own energy source and storage, damages to the main grid won’t be able to affect your own power as much as they typically would.

In 2017, 36.7 million people in the US were affected by power outages, according to a study by Eaton. This number was actually twice as much as the previous year, showing that the risk of a power outage is only increasing.

Solar + storage smart systems substantially decrease the potentially catastrophic effects of power outages, allowing you and your family to rest easy knowing that your energy will be secure.

Longer battery life span

As with much in life, things last longer if you are nice to them. This is no different when it comes to batteries.

Every battery type has a specific set of restraints and conditions when it comes to charging, and these require upkeep. The smart system can manage the capacity of the battery in a way that allows it to last as long as possible.

The longer the battery lasts, the more secure your energy system is and the more money you’ll save.

Increase the value of your home

Lastly, the installation of a solar + storage smart energy system will increase the overall value of your home.

According to a 2019 study by Zillow, “homes with solar-energy systems sold for 4.1% more on average than comparable homes without solar power. For the median-valued home, that translates to an additional $9,274.”

With a smart solution, the number is even higher.

With a switch to solar energy, not only will you be helping the environment, you’ll be helping your wallet, too – and in a big way.

It’s the 21st century; time to get smart about your energy usage.

Disclosure: This story is brought to you by an ESPACIO portfolio company

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Branislav Safarik
Branislav Safarik is the co-founder, COO, and CFO at FUERGY -- a company that uses innovative AI technologies to help users realize the full potential of renewable energy.