How Much Do Solar Panels Save On Nova Scotia Electricity Bills?
#solar #novascotia #electrictysavings #cleanenergy #solarenergy
When we talk solar savings, we’re really talking about the concept of “avoided costs.” That is, the amount you would have spent on electricity had you not installed a solar power system for your home to provide the same power. And yes.... these savings are very real. In fact, the extremely high likelihood that you will continue to need to consume electricity at your house means that solar savings are considered a very bankable investment return. In other words, we are a society of power-mongers, so let’s explore alternative options for want of this necessary resource.
The first step to working out solar savings is to understand how much electricity you use now, how much that costs you and how much electricity you are likely to use in the future. The latter part is a bit tricky, but we can confidently assess your current situation.
So, let’s do the math:
The current residential rate (per kWh) in Nova Scotia is $0.15694. The average annual electricity consumption for a Nova Scotia residential utility customer is 10,800 kilowatt hours (kWh) per annum, which is an average of 900 kWh per month. Multiply that by the November 2018 provincial average electricity rate of ($0.15694 per kWh), and we can conclude that the typical Nova Scotia family is spending close to $1,700 a year on electricity. (Side note: I think that my be a "low" average?) This means that if each home was to install enough solar panels to cover their electricity bill then on average the savings from installing a residential solar system in Nova Scotia in 2018 would run approximately $1,700 per year.
However, what customers are really asking me is “How much are the solar savings per month after the solar repayments, and how much do these savings add up to over 25 years?” And that’s a difficult one to answer because of unpredictable variances in home energy usage and uncontrollable / unforeseen rising energy costs in Nova Scotia.
If you’re seriously considering solar power as a viable alternative to your current grid-tied system, then I highly recommend starting a conversation with us to help you determine the most cost-effective way to proceed. At Aztek Solar, we use a solar savings calculator to calculate precisely how many solar panels you need to power your house, how much they will cost, your solar payback period and both projected monthly and lifetime solar savings. It’s well worth the time to consult with us as part of your decision-making process to use this great natural resource for your benefit.
Thanks for Reading!
aka The Solar Guy from Aztek Solar Ltd.