As with any major investment, it is important to do some initial research before making a commitment to going off the grid. Just because you’ve heard that installing a system to generate your own power will save you money, doesn’t mean that this will be the case in every situation. A small household using very little power may see no financial benefit against the cost of instillation for example. If your motivation for switching to self-generated power is financial then you need to do a cost benefit analysis to understand the likely projected outcome over time.
Analyzing The Cost Benefit Of Going Off-Grid
These are the factors you will need to identify and have a clear understanding of before you proceed.
- Your energy usage
- Your current expenditure
- Cost of the proposed system
- Life of proposed system
- Ongoing maintenance
Know How Much Energy Your Household Uses
Before you can do a cost benefit analysis of any major infrastructure change you need to understand your exact position right now. You can do this by taking your energy bills for the past year and look for the actual number of units of energy used through the different seasons. Look for trends for instance, does your usage increase or decrease in summer and winter? Identify power hungry devices and decide whether you can replace them for more efficient units. Understand when the peak load times are in your household and decide if these can be managed better.
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