Your system starts its day, producing power as the sun rises. If more power is being consumed than produced, your home may draw additional power from the grid.
As the day continues, you may end up generating more power than you are consuming. This extra power can be stored for future use, or sent back to the grid where it can be used by your neighbors.
After sundown, your home will get power from the grid, or consume solar power that’s been generated and stored during the daytime.
A typical residential solar powered system will produce energy at $0.06/kWh.
The power company charges residential customers $0.12/kWh for energy.
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LCOE is the net costs of solar divided by the total number of kWh’s the solar power system will produce over its lifetime. When you divide the net costs of solar by the number of kWh’s it will produce over 25 years, you get a price per kWh or $/kWh. A typical residential system will have a LCOE of $0.06/kWh. To put this into perspective, FPL charges residential customers $0.12/kWh. So with solar, customers will produce power cheaper than they can buy it! If they have batteries, they can store this cheap energy, use it at night, and truly lower their electricity costs and get away from the grid.