SOLAR SAVINGS BLOG

Why You Aren't Saving Money After Going Solar

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06-Sep-2016

Why You Aren't Saving Money After Going Solar

Recently we launched a service that allows us to help homeowners who have installed solar increase their savings.  This launch has been a very eye-opening experience for us, even with only a few hundred users signed up so far.  Lot’s of homeowners have way too much solar installed!  When this happens, their savings numbers look terrible, if they are even saving any money at all.

So why is this happening?  Most solar installers don’t using very sophisticated tools when quoting a system size, and as a result, homeowners are not seeing the savings they were promised when they signed the agreement.  As you might expect, these disappointed homeowners are tending not to refer their friends and family, because they don’t want them to suffer the same fate.

Industry leaders like Solar City and Sunrun are feeling the impact of this big time because of these kinds of practices. Solar City’s customer acquisition costs are 36% higher than they were a year ago. They'll need to clean up their acts if they want to reverse this worrying trend.

Fortunately, there are things a homeowner with solar can do to fix the problem without spending any money.  Once the homeowner knows they are overproducing, they can decide to increase their electricity usage and enjoy the use of that power instead of sending it back to the grid for free.  It would also be an excellent reason to consider getting an electric vehicle to use up some of that overproduction of electricity.

On the other hand, the homeowner may have installed too little solar, and as a result, ends up having to pay a large end-of-year "true-up" bill to their utility.  These homeowners should consider adding battery storage solutions which will allow them to time-shift their consumption of energy to a cheaper time of day, thus reducing their remaining utility bill further.  

Our Solar Savings Monitoring service increases the bill credit for most homeowners, mainly by switching to the utility rate plan that best suits their home’s usage patterns.  And if they have been modifying their lifestyles to conserve energy, this may be very welcome news indeed.

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