Are you thinking about switching to self-consumption and installing solar panels in your home, but still have a few questions and concerns?
Here at My Green House, we’re going to give you 5 fundamental factors that will help you make the decision. They aren’t the only ones, but, in our opinion, they are the most important.
Advantages of self-consumption
Better for your pocket from day one
The increase in electricity bills has been a real shock to households, and has made us reflect on the causes of this rise in energy and fuel prices.
As we’re talking mostly about non-renewable sources, it’s important to know their current situation, which is not at all promising. Some estimates suggest that coal will run out by 2040, and the predicted date for oil and gas reserves to reach minimum levels is 2060.
This depletion of fossil fuels may be accentuated by the rise of emerging countries, which are increasingly demanding more energy to meet their needs, thereby making current resources increasingly scarce.
Faced with this scenario, it’s inevitable that international markets will take action and that we will become increasingly dependent on them in the face of electricity price fluctuations.
The most obvious evidence of this are ever-increasing electricity bills. It’s estimated that Spain’s foreign fossil fuel bill will increase fivefold by 2050.
In light of this situation, reducing our dependence on the conventional electricity grid has become a pressing necessity, and self-consumption is an ideal response to this situation.
Although it’s sometimes difficult to determine the exact savings, what’s clear is that, by installing solar panels, we can cut our electricity bills by at least 30% from day one.
And, if we succeed in setting up a fully independent self-consumption system, then we will obtain unlimited, free, and 100% clean energy.
You’ll be able to get grants and tax relief
Another reason for installing solar panels in homes and businesses is the chance to benefit from subsidies and different tax reductions.
In fact, the Government, the Autonomous Communities, and some local councils offer different types of subsidies to encourage self-consumption.
One of the most common ones is the reduction of up to 50% on your IBI (property tax) bills for a maximum period of 5 years. By that time, you’ll have amortised practically the whole investment you made to install your photovoltaic system (which is, on average, 6-8 years in domestic installations).
There are also rebates on the Installations, Construction, and Works Tax (ICIO) and other subsidies to cover part of the installation costs.
You’ll be helping to care for the environment
We are experiencing an alarming climatic emergency. Over the last few centuries, human activity has diminished the planet’s biodiversity by up to 75%, not to mention the increase in CO₂ levels, which pose a threat to nature and to human health.
Committing to self-consumption and installing solar panels could be one of your greatest contributions to the environment and to future generations. You should be aware that protecting and caring for the environment is a shared responsibility, and that any action, no matter how small, is significant.
Solar energy is clean, has zero impact on the environment, and reduces harmful emissions.
So, if you decide to switch to self-consumption with solar panels, you’ll be making a direct contribution to our planet’s health.
You’ll pay back your investment before you know it
The economic crisis we’re living through is, inevitably, forcing us to think about how we can save money.
Although it’s true that installing solar panels requires a certain initial investment, this is becoming increasingly lower. There’s more demand and more supply of materials and technology, which means that prices are falling, and, on top of that, the payback is shorter and quicker.
Besides this, if the price of electricity continues to rise, then in the future we’ll end up paying the same monthly bills for electricity as we would for investing in a photovoltaic installation.
You’ll help to create a sustainable energy system
Being in control of your energy production and consumption is empowering, especially in a country like Spain, with its long daylight hours.
Being energy independent through self-consumption is also crucial to help reactivate the economy and accelerate energy transition, one of the European Union’s major objectives, which is focused on reducing the use of fossil fuels by 2050.
Do you need any more reasons to switch to self-consumption? Call us and we’ll clear up any questions you may have!