HOW SOLAR ENERGY WORKS
Solar panels are typically mounted on the rooftop but can also be ground mounted. These panels harness energy from the sun and convert it into usable power in your home. If your system produces more power than you can use at any given time, the excess solar is sent to the Conway Corp power grid. Whenever your system is not producing enough energy to meet your needs, your home will utilize energy from the Conway Corp power grid. Whenever the sun is not shining or during a power outage, all your power comes from the grid unless your solar system includes a battery backup.
Solar panels harness power from the sun. The harnessed solar is used to power appliances and electrical devices in your home. Solar offsets some of the power you would have used from the grid.
Solar only powers your home when the sun is out. The grid powers your home at night. Energy generated by solar panels is first used by the customer to offset demand. Your monitoring app or device will show total generation.
Any excess solar generation not used in your home will be sent to the grid. Solar generation credits are applied to your electric usage each month. and cannot be used for water or telecommunication services. Any excess energy produced and unused credit will apply to the next billing period.
THINGS TO CONSIDER
Solar energy is a renewable and emissions-free energy source that can be an excellent option for some homes. With an average break-even period for residential installations between 12 and 15 years, solar should be considered a long-term investment in sustainability. Conway Corp does not recommend or endorse any particular third-party installer, but we want to help you understand all aspects of your potential solar project. Before beginning any solar installation, we recommend obtaining at least three proposals from installers, as pricing and financing may differ for each company.
The average installed price for most residential systems is $3 per watt.
The average solar system lifespan is 25 to 30 years.
You may need to replace the inverter(s) during the lifespan of the system.
Your solar contractor is required by law to provide you the following to ensure you make an informed decision before purchasing solar power:
- Description of the system and including the system’s placement on your premises
- Nameplate capacity (kW) with expected monthly and annual output of the facility (kWh)
- Estimated annual loss of production from the facility as it ages
- Estimated timeline for installation
- Total cost of the facility
- Amount you must pay at signing of the agreement and at the completion of the installation
- Payment schedule
- Payback period
- Forecasted savings – monthly and annually – based on your current electric rates with fees
- Description of any warranties with term length
- At least five (5) days to evaluate a net metering proposal before it can be binding
QUESTIONS? Contact us at solar@ConwayCorp.com