I believe I'm now in a position to better calculate the actual financial benefit that has resulted in the solar system I installed a little over 4 years ago. My focus at this time is looking at the most recent billing cycle (4/22/22 to 5/21/22). Calculations are based upon an average kWh cost of $0.409, a number provided by the U.S. Bureau of Labor for April for San Diego. Solar energy production for this timeframe according to the SolarEdge web application was 819.9 kWh. Solar production in excess of consumption was 148.8 kWh according to the Emporia application. Subtracting that amount from the total solar energy production leaves a balance of 671.1 kWh, an amount that is likely reasonably close to the actual household energy consumed during the month. That figure is not unreasonable, given the fact that I have an EV and a spa.
Multiplying the 671.1 kWh consumption by $0.409 suggests an energy cost of $274.48 for the billing period. As time goes on, it will be interesting to see the numbers for subsequent months as solar production increases and decreases. Given the mild weather near the coast, I do not expect a large variation in monthly consumption. There will of course be a variation in solar energy productiion as we move into the winter months.
What this analysis tells me is the decision I made in moving forward with the solar system installation was wise. Four years ago my average bill for electricity was approximately $200/month. The system cost after deducting the 30% Federal tax credit was around $10,500. My annual true-up bill has averaged around $200. I suspect I'm reaching the "break-even" point where I will have fully recovered the money I spent installing the solar system.
Multiplying the 671.1 kWh consumption by $0.409 suggests an energy cost of $274.48 for the billing period. As time goes on, it will be interesting to see the numbers for subsequent months as solar production increases and decreases. Given the mild weather near the coast, I do not expect a large variation in monthly consumption. There will of course be a variation in solar energy productiion as we move into the winter months.
What this analysis tells me is the decision I made in moving forward with the solar system installation was wise. Four years ago my average bill for electricity was approximately $200/month. The system cost after deducting the 30% Federal tax credit was around $10,500. My annual true-up bill has averaged around $200. I suspect I'm reaching the "break-even" point where I will have fully recovered the money I spent installing the solar system.
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