Can you still save money with solar?
Spoiler Alert: Yes you can!
We have four system design options to serve our customers and help them gain independence from rising electricity rates under NEM 3.0:
Solar Panels only:
Lowest Installation Cost (Starting at $9,995!)
When the SolarEdge Home Hub inverter is solely connected to PV, it becomes the lowest upfront cost option for homeowners. It produces solar energy to help offset consumption during the day.
Rate Saver Bundle:
Lowest Installation Cost and Best Savings under NEM 3.0 (SolarEdge Inverter(s) and Home Battery). The SolarEdge Home Hub Inverter is connected to PV and at least one Home Battery. This allows the homeowner to maximize self-consumption for the lowest possible cost. Everything is monitored and controlled through the mySolarEdge app. With the SolarEdge Battery Management Algorithm, the battery will charge from PV and export to the grid during ideal export times.
(SolarEdge Inverter(s) and Tesla Powerwall 2 Battery)
The SolarEdge Inverter is connected to the PV. The Tesla Powerwall 2 Battery will allow the homeowner to run their most important loads, like lights and refrigerator in an outage and maximize self-consumption. With the SolarEdge Battery
Management Algorithm, the battery will charge from PV and export to the grid during ideal export times.
Non-consumed energy will charge the battery for use during peak import times.
Most Capable System for independence from the utility company. (SolarEdge Inverter(s) and Tesla Powerwall 2 Battery)
The SolarEdge Inverter is connected to the PV. The Tesla Powerwall 2 Battery will allow the homeowner to run their whole home in an outage and maximize self-consumption. This allows the homeowner to have the most comprehensive solution, maximize self-consumption and stay 100% uninterrupted in an outage.
Reasons Why You Can Still Save With Solar In California Under NEM 3
By installing solar panels, homeowners can generate their own electricity and become less reliant on the grid. This independence allows them to avoid potential future increases in electricity rates and reduce their vulnerability to power outages or disruptions in the grid.
Protection against Rising Electricity Rates
Electricity rates in California are expected to rise over the next decade. By investing in solar, homeowners can lock in a fixed electricity cost for the lifespan of their solar system, providing long-term protection against escalating utility rates.
Financial Incentives and Tax Benefits
California offers financial incentives and tax credits for installing solar panels. These incentives can significantly reduce the upfront cost of solar installation and accelerate the payback period. Additionally, homeowners may be eligible for federal tax credits, further reducing the overall cost.
Net Energy Metering (NEM) Benefits
While NEM 3 may have slightly lower savings compared to the previous NEM 2 system, it still offers homeowners the opportunity to offset their electricity costs.
Solar energy is a clean and renewable source of power, helping to reduce greenhouse gas emissions and combat climate change. By switching to solar, homeowners can contribute to a cleaner grid and a more sustainable future.
Increased Property Value
Installing solar panels can enhance the value of a home. Studies have shown that homes equipped with solar panels tend to sell at a premium compared to similar homes without solar. Potential homebuyers are attracted to the cost savings, energy independence, and environmental benefits associated with solar-powered homes.
Backup Power during Outages
When combined with solar battery storage, solar panels can provide backup power during grid outages. This ensures that critical appliances and systems can continue to operate, providing homeowners with peace of mind and added security.
Low Maintenance Cost
Solar panels require minimal maintenance and have a long lifespan, reducing the need for frequent replacements. This longevity contributes to the overall sustainability of the system, ensuring that fewer resources are consumed over time compared to conventional energy generation methods.