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One of the most clear cut benefits of solar panels is the ability to hedge utility prices. In the past ten years, residential electricity prices have gone up by an average of three percent annually. By investing in a solar energy system now, you can fix your electricity rate and protect against unpredictable increases in electricity costs. If you’re a business or homeowner with fluctuating cash flow, going solar also helps you better forecast and manage your expenses.
Solar panels work by absorbing sunlight with photovoltaic cells, generating direct current (DC) energy and then converting it to usable alternating current (AC) energy with the help of inverter technology. AC energy then flows through the home’s electrical panel and is distributed accordingly. Here are the main steps for how solar panels work for your home:
Photovoltaic cells absorb the sun’s energy and convert it to DC electricity
The solar inverter converts DC electricity from your solar modules to AC electricity, which is used by most home appliances
Electricity flows through your home, powering electronic devices
Excess electricity produced by solar panels is fed to the electric grid