I'm pleased to announce that my Solar Photovoltaic (PV) system has achieved a significant milestone - it has produced its first 1 Megawatt (MW) of electricity since activation last year. This is a notable achievement, and I'm excited to share the journey and what it signifies.
When I installed the PV system last year, my primary goal was to reduce my energy bill, not necessarily to achieve net-zero energy consumption. My system, with its seven solar panels, was designed to produce about 2 kW and on an average day, generate roughly 12 kWh of power. However, the journey to 1 MW was not smooth sailing due to shortening days and cloudy weather.
The significance of this achievement is twofold. Firstly, this milestone demonstrates the potential for renewable energy sources like solar to reduce reliance on the grid. By producing 1 MW, my system has generated a meaningful amount of clean, renewable energy that helps the grid offset some risk. Spreading out electrical production contributes to overall grid resilience from peak demand spikes. Furthermore, each PV system contributes to the overall decentralization of electrical production, which reduces the likelihood and impact of major points of failure.
Secondly, reaching 1 MW of production has a direct financial impact on our household. With my new Retail Energy Provider (REP), I am now able to sell back excess electricity at wholesale prices. Even though the buyback price often lingers well below $0.10/kWh, it still provides some compensation that would otherwise be lost. The surplus energy that I do not use during the day is credited to my account and used to offset my electricity consumption in the evenings. Thus, while I may not receive a direct payment for surplus energy, I still benefit from lower energy bills.
Looking ahead, I am optimistic about the rest of the year. Given that we are heading towards longer, sunnier days, I anticipate that my system's daily energy production will increase until summer solstice. In fact, based on my system's current performance, I estimate that it might produce at least 3 MW of electricity annually, effectively providing about three months of "free" energy. Furthermore, as my system continues to produce and export energy to the grid, the savings on my energy bill will accumulate, leading to significant long-term savings.
In conclusion, reaching the 1 MW production milestone is significant in that it demonstrates a meaningful contribution towards grid reliability. Secondly, this milestone signifies a quantifiable savings on our electricity usage. Furthermore, which I had not mentioned, this PV system is setting the baseline for future decisions to invest in more energy products. I will re-evaluate my outlook when we have reached our next Megawatt.