As you consider a smart solar system, you’ll need to make sure that it’s financially viable. It’s important to ask, “how much am I paying for electric?”
By understanding how much you’re paying for each kWh (kilowatt-hour), you’ll have a better idea of how much you could save once you move to a smart solar system. A simple formula can be used.
- How much am I paying for electricity? Find out by looking at your most recent power bill.
- Note the kWh used on the bill.
- Divide the total kWh by the money you paid for the bill to see how much you’re paying per kWh.
The average New York home uses 603 kWh per month. Electricity in Long Island and New York, in general, is ridiculously expensive. Rates are the third highest in the nation. In Long Island, rates are often higher than most other places in the state, even when considering the special peak and off-peak rate programs that are offered with modern smart meters.
When you question, “how much am I paying for electric?” and look at the numbers, you’ll quickly realize that you’re paying too much to the power company. Why settle for these rates when you can invest in a smart solar system that gives you more financial freedom?
What About the Long Island Energy Price of Electricity with Balanced Billing?
Balanced billing is designed to even out the Long Island energy price of electricity based on expected usage and past meter readings. It prevents spikes in the bill so that you pay a similar amount every month.
Balanced billing is good for families who need help with consistent budgeting. However, it can work against you if you use more electricity than the utility provider estimated, which will then leave a hefty bill for you to catch up on the difference.
The Long Island energy price of balanced billing is uncompetitive when comparing to a home that has an efficient solar panel system installed.
Is Solar Still Affordable When You Factor in Solar Backup Battery Cost?
You’ve asked, “how much am I paying for electric on Long Island?”, have looked at your bill, and you aren’t happy with the answer. You’re now considering a smart solar system to get over the Long Island energy price of electricity.
Solar can work in a few ways to reduce your bill…
- With a combination of strong solar days and net metering, you could find that you can produce most of the energy you use at home. On months or days when you need to draw more from the grid, your net metering credit will help to offset the difference. Remember, net metering means you get paid in credits per kWh of energy that you export to the grid.
- If you save $200 a month with solar and end up paying $130 each month on your term financing, you’ll pocket the difference.
- You could even add a backup battery system to your home to store extra energy to be used when you produce less.
Solar backup battery cost will be added to your installation. In addition to storing excess power that can be used in your home during the evenings, a backup battery will also mean that you can keep appliances running in case of a blackout.
Is the solar backup battery cost worth it in the long run? With net metering, it’s not always necessary to store energy, and the grid in Long Island is fairly reliable. However, many homeowners choose backup batteries simply for the fact that it gives them more independence.
Get a Smart Solar System Consultation Today
Long Island Power Solutions is here to offer smart solar systems that save you money and give you independence from utility companies. You’ve asked, “how much am I paying for electric on LI?”, and you now have the answer. If you want to have better control over what you pay for electricity, it’s time to schedule your consultation with Long Island Power Solutions.
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