Going solar is one of the best hacks to saving money (or even paying close to $0) on your energy bills, and one homeowner proved just how true that is after sharing their experience installing solar panels and a Tesla Powerwall system.
On the YouTube channel 4K Motoring (@4K Motoring) brand owner Chris gave a quick recap of his setup, which is a 32-panel system with 13.4 kilowatts of power on his roof, along with a Tesla Powerwall 3 to store extra power, whether from the panels when they produce more than he needs or from the grid to have as needed. He said it can provide an additional 13.5 kilowatt-hours of energy, which can come in handy during power outages and allow for more energy savings.
He said the entire system, which he purchased through NC Solar Now based in Raleigh, cost around $36,000. Luckily, he was able to take advantage of the 30% solar tax credit and $52 a month, along with a $9,000 sign-on bonus, from his utility provider for feeding energy into the virtual power plant program.
Chris said that overall, these massive savings knocked off about $20,000 off his system, even before counting the $52 monthly flat fee from the virtual power plant program.
After doing the math, he realized that he would only owe about $10,000 out of pocket for the system, and it's under warranty for 25 years in case anything happens. While he's paying more than he would for his electricity bill, it will pay off in the long run as he aims to be totally self-sufficient, meaning he'd be giving more back to the grid than he's using.
"Out of that $10,000, I hope within 2 years that'll be paid off nice and easy without a big impact to me budget-wise, and then I'll have over 20 years of free electricity," he said in the video.
The only con he mentioned was that it took several months to get the system installed after signing the contract.
As far as the actual performance of the solar and storage, Chris said that before his solar panels were installed, he was able to pull almost a full day's worth of electricity from the Powerwall. However, since it was in December, the Powerwall burned through energy more quickly at night due to the use of electric and gas heat, along with other appliances. But he realized that by doing household chores during the day when the sun was up, it allowed the system to recharge once the solar panels were installed.
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One of the best parts of the setup?
"So, every month I've been getting a negative power bill so far, and that is compared to the rising power bill that I got over the last couple years that was almost $250 a month here in North Carolina, and that went down to negative," he said.
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Upfront costs 💰 If you're interested in getting your own system, EnergySage can help you out with its free tools that allow you to compare quotes from vetted contractors and save potentially $10,000 on installations. It also has a free mapping tool that gives you a breakdown by state of the costs of solar panel systems and any incentives you're eligible for.
With these tools, it's easy to find the best deal to suit your needs and enjoy a more energy-efficient home.
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If you pair solar panels with other appliances, such as heat pumps, you could save even more on your electric bills. EnergySage offers a free heat pump quotes comparison tool that can help you find the right installer for your budget. With so many energy-saving technologies out there today, it's never been easier to reduce your electric bills or even eliminate them while benefiting the planet.
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