Benefits of Solar + Storage
As our electricity price is low, it is difficult to see the economic advantages of solar + storage. It is also difficult to place value on avoided power outages to make the economics work for solar + storage projects. But we all know that power outages can cause health hazard, economic loss and most importantly immeasurable inconvenience.
Even though power outages are very common in most parts of the world, we have been lucky enough to have minimal of these events here in North America. However power outages are becoming increasingly common in our neighbourhoods in GTA and throughout North America in recent years.
According to researchers recent Hurricane Maria’s impact on Puerto Rico and the U.S. Virgin Islands set a record for the longest blackout in U.S. history. Puerto Rico’s Department of Economic Development and Commerce estimated economic losses at a minimum of $20 billion. Some economists say that when the drop in productivity is considered, the number could be twice as that.
These extreme weather events have highlighted the need for more resilient energy systems with backup power. While gas and diesel generators are often used, they are unreliable due to various equipment failures, fuel shortages and they are dirty, noisy, and dangerous.
Solar + storage solution is an alternative that can provide dependable, cost-efficient backup power. Due to high upfront cost, solar + storage had not been the obvious choice for backup power in the past. But solar + storage system costs have been steadily declining in recent years and it has become primary choice to reduce high utility demand charges. With new government incentives, use of solar + storage for emergency backup power in case of blackouts also will become the primary choice.
With electricity rates steadily increasing over the last 10 years, going solar makes financial sense. While providing you much needed backup power, Solar + Storage further helps you to take control of demand charges. Also depending on electricity rate structure solar+ storage can offset energy costs when electricity rates are at their peak.
Going solar with our solar+ storage solution is the best way to take control of your energy cost. Interested in solar or solar+ storage? Contact us.