Sep 23, 2022

Save money with solar and storage

Save money with solar and storage

ToU, save you money

iCAN® NetZero+ enables automatic switching between grid, battery, and solar power, allowing electrical appliances to prioritize solar and battery power, reducing the cost of buying electricity from the grid. iCAN® NetZero+ even achieves self-sufficiency without purchasing electricity from the grid. Based on the optional ToU (Time of Use) operation mechanism, it allows iCAN® NetZero+ to use battery power when the cost of the grid is high at the peak period and use the grid electricity when the price is low during the off-peak period. Thus, ToU can help you reduce the cost of electricity and improve the economy of electricity consumption.

Based on the data from Energy Information Administration (EIA), it is shown that electricity rates have increased by around 15% over the preceding ten years. In this situation, your monthly electricity cost can frequently make a significant difference in your finances. For the long-run term, you may cut that amount and save more payment if you decide to use solar power.

Besides, the price of solar photovoltaic (PV) and battery storage systems also decreased these years. According to recent research from the National Renewable Energy Laboratory (NREL), the installed cost of solar photovoltaic (PV) and battery storage systems in the U.S. have continued to reduce since 2020, with utility-scale solar systems experiencing a 12.3% price decline.

The U.S. government has passed the federal solar tax credit policy for the public and has announced a 10-year extension of the investment tax credit for commercial and residential renewable projects at a rate of 30%, including those installed in 2022. This action motivates citizens to purchase renewable energy equipment and reduce carbon emissions. Install the renewable energy system as soon as possible, more money you will save.