With energy prices continuing to rise, more and more people are getting their homes powered by solar energy. Financial gain by solar is twofold- we can save our electricity bill as the house is powered by solar energy and secondly we get paid for the power we export to the grid. Load shifting is a technique that helps to reap more profit by readjusting energy usage so that most of the energy is used during daytime, when power production is maximum. Connecting a battery is an added advantage as the excess energy can be stored and used for a later purpose, thus avoiding the need to import from the grid for a higher price.
For an easier understanding, let’s assume some calculations. If we have a 5 KW solar system at home, it produces 22.5 KWh per day. So an average production for 2 months (61 days) will be 1372 KWh.
Out of the daily production of 22.5 KWh, we might need 10 Kwh for household chores, the remaining 12.5 kWh can be sent back to the grid.
In that case, for 2 months we need 610 KWh for household chores, that is 10kwh per day × 61days = 610 Kwh, and the remaining 762 KWh can be sent back to the grid, that is 12.5 KWh per day × 61 days= 762 KWh
So for 2months we use 610 KWh of what is produced by our system and export 762 KWh to the grid.
If someone is on A1 home plan, your consumption will be $129.72, which indicates a savings of $161.49. When we export 762.5 KWh, Synergy owes you $54.40. So we save in two ways, by using solar energy for running the household and by selling energy back to the grid, thus making an annual savings of $1295.34.
If you are on SM1 Smart House plan, solar system saves $168.12 of power consumption and exporting to grid earns $54.40 in a single bill, thus making an annual savings of $1335.12. Your time of use bill will show the details of power usage and export.
TOU Consumption
| Time of use | Usage | Unit Price | Total |
| Weekday peak | 200 KWh | $0.503471 | $100.69 |
| Everyday offpeak | 206 KWh | $0.138697 | $28.57 |
| Weekday shoulder | 0Wh | $0.263681 | $0.00 |
| Weeend shoulder | 84KWh | $0.263681 | $22.15 |
| $ 151.41 |
TOU Renewable Energy Buyback Scheme
| Time of use | Export | Unit Price | Total |
| Weekday peak | 0 KWh | $0.07135 | $0.00 |
| Everyday offpeak | 27.2 KWh | $0.07135 | $1.94 |
| Weekday shoulder | 518.3 KWh | $0.07135 | $36.98 |
| Weeend shoulder | 217KWh | $0.07135 | $15.48 |
| $54.40 |
Load shifting is the most effective technique to reap financial gain from your solar installation. It refers to readjusting energy usage so that we consume more electricity during daytime. Solar panels won’t work at night. So whatever we use at night is actually imported from the grid for a full price. Load shifting helps to save up to 50 to 75% of your usual bill.
Load shifting is ideal for those who are not at home during daytime and for those who use electricity at night. It can be done in the following ways
- Use electrical gadgets during daytime when our panels produce more energy. If we are not at home during that time, use timers for washing machines and dishwashers so that most of cleaning is done during daytime.
- Time your air conditioners in such a way that it cools the house when the sun is still on. Do the same with heaters in winter season.
- Take shower in the morning so as to save on water heating.
- Arrange pool cleaning and filtering during daytime.
Another way of making financial gain from solar system is installing a battery to store the excess energy produced by panels, during daytime. This battery can provide energy during night and on cloudy days, when panels are not able to produce energy. Synergy buys electricity from us at a rate of 7cents per KW and later sells it back to us for 26cents per unit. The electricity that we use at night is imported from the grid at a higher rate. If we have a battery, we can avoid borrowing from the grid, which is a huge leap in financial gain. It is very essential to install an apt battery. Seek professional help for choosing a battery of correct size and voltage capabilities.