With the advancement of solar power technology, the cost of solar panels has begun to gradually decline. More and more people are choosing to install solar power systems, and even though the cost has dropped a lot compared to the original, the price of a complete system is not low. So, is there any way to make some money with this system? The answer is yes there is. The Bring Your Own Battery program can meet your needs.
How the Bring Your Own Battery Program Works?
Bring Your Own Battery programs are a new type of program introduced by some utility companies to incentivize energy storage. The Bring Your Own Battery program works by connecting the solar cells from your solar power system to the utility grid. The grid pays you based on your capacity (how much peak or continuous power your batteries can produce) or the amount of power they deliver to the grid. In this way, you can earn an income every day. In the long run, the income can be very significant.
The Role of the Bring Your Own Battery Program
Since you have chosen to install a solar power system, it is best to install another solar battery. After all, installing a solar battery ensures that you can still have a steady supply of electricity even at night. But a solar battery is on the expensive side and many people are on the fence. But don’t worry, the Bring Your Own Battery program ensures that your investment pays off in no time.
For residents, the Bring Your Own Battery program can provide them with a stable and long term income that can allow them to pay back their money at a much faster rate. Typically, it takes about 5 years to recoup the cost of the solar cells. In addition to this, the Bring Your Own Battery program has other benefits because the amount of electricity generated and used varies from moment to moment, and even if statistically you generate more electricity than you use each month, you may still be running out of power. If you join the program, then you can draw stored energy from your batteries, and if there is not enough energy in your batteries, you can also draw it from the grid.
For the grid, which can use the user’s solar battery as well as its stored energy, the Bring Your Own Battery program can effectively ease the pressure on the grid’s power supply and also reduce the price of electricity. The Bring Your Own Battery program also helps the grid save money, without which the grid would need to invest more in building new power plants in order to meet customer demand for electricity.
Bring Your Own Battery Program Incentives
To incentivize energy storage, every state has a number of incentives for bring-your-own-battery programs as a way to attract more people to the program. Utility companies can offer rebates for solar batteries. In addition to this, some countries have solar tax credits as an incentive, such as the United States, the United Kingdom, Germany, and France. Looking at the strength of the current policy, you can save thousands of dollars at least if you opt for the bring your own battery program.
Conclusion
The Bring Your Own Battery program has many advantages, the only disadvantage being the higher price of solar battery. Of course in the long run, the money spent on purchasing batteries will be recouped in a few years.
