Schneider Electric and Landis+Gyr-backed machine learning technology firm Sense has released the results of a study conducted consumer savings from solar investments in the US.
The study comprises data from 1,800 US households.
Key study results include:
- The average savings for consumers from solar is $1075 annually.
- Most homeowners use less than half of their solar power directly and need to feed the rest back to the grid or invest in battery storage.
Since many states allow utilities to buy back solar power at a lower rate than they charge for electricity, where you live can make a big difference in the payoff from your solar investment.
- Solar pays off the most for homeowners in sunny Utah and California.
Consumers in Utah offset 84% of their utility bill, while Californians offset nearly 75% of their bill. Arizona residents generate solar power equivalent to 66% of their average utility bill.
State net metering regulations impacts heavily the payback on solar energy by utilities.
- Only a fifth of all solar residents produces more solar energy than they consume, reaching the goal of matching household energy consumption to solar production.
- Highest energy usage does not coincide with peak solar production. In the summer, solar production peaks between noon and 1 pm, while energy usage peaks hours later at about 6 pm.
- HVAC systems account for nearly half of the average electricity bill in summer months.