Virtual battery, solar piggy bank, solar wallet: the types of contracts that help you save on your electricity bill if you have solar panels

If you are one of those who want to save and make the most of your investment in solar panels, you can make use of the virtual battery, solar piggy bank or solar wallet. In this way you can accumulate in euros the surplus of all the kW you generate. You just have to take advantage of the self-consumption modality.

Today you are going to learn what is the virtual battery, solar piggy bank or solar wallet, which can be used by anyone in Spain who uses solar energy at home. If you want to make your bill help you save, you must also understand what surplus compensation is. Pay close attention, since it is a subject that has some complexity.

What is the modality of self-consumption for surplus compensation?

This mode consists of all the energy that your solar panels produce and which you do not consume, you can take it to the public energy network for its use for whom if you need it.

The excess energy not used is negotiated and taken to the public electricity network under a contract with the energy supplier, to be distributed among other users who need it. This energy given to the electrical network translates for those who provide the energy into a reduction in the consumption of the electricity bill by the marketer.

If this discount makes the bill reach €0, this was not initially indicative that whoever provides the energy should not pay anything. There are other fixed costs that do have to be paid.

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At first this seemed unfair and users accepted it because it was better than nothing. But as time has gone by, some marketers decided to vary the terms in which compensation was given. Initially, some traders began to compensate everything in terms of energy, including energy costs.

Later, they would start compensating for power. Today there are some marketers that compensation covers everything, being able to generate negative invoices that would cover subsequent months. There are some marketers that offer an annual net balance, with minimum payments during the first year.

What is the virtual battery, solar piggy bank and solar wallet?

These are some of the alternatives offered for the compensation of self-consumption surpluses that we can find today in the energy market. Although they have different names: the virtual battery, solar piggy bank and solar walletAccording to the marketing company that offers the service, the objective is the same.

Have been designed as a way to deal with the excessive increase that Spaniards have been suffering from electricity rates. These electricity rates have caused a lot of confusion among consumers, who now want measures to counteract their impact on their budget.

What the virtual battery, the solar piggy bank and the solar wallet do is add to the compensatory energy system the possibility of making reductions in the electricity bill, and can even reach €0, that on the one hand. On the other hand, it allows to accumulate the energy given that it has not been possible to compensate in the bill of the month in the following bills.

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How do these energy surplus compensation alternatives work?

Like any other type of storage, the virtual battery, solar piggy bank and solar wallet follow a process. This process, in turn, is double and goes in two directions: loading and unloading or filling and emptying.

How to enjoy the compensation for excess energy?

You should have solar panels in a photovoltaic installation and have a surplus in power generation. Either because you are generally away from home and you do not use all the energy produced by your solar panels and a surplus is produced. Everything revolves around this excess energy and getting the most out of it.

That excess energy, which is generated by the photovoltaic installation of a home and which is not used, either by spending many hours emptying the home, hardly using electrical appliances, or for any other reason, is transferred to the electrical grid. From there it is taken to other users who can take advantage of it.

Users who generate this energy and pass it on to other users through the electricity grid, are rewarded with a reduction or discount on the electric bill for the month.

Interesting Battery and Solar Piggy Bank Facts

Something you should know about the virtual battery and the solar piggy bank is that you can use the accumulated balance whenever you want, no matter how many months go by without using the accumulated monetary compensation. The services provided by the solar battery and the solar piggy bank do not expireand the only way to lose the accumulated money is if you change the marketer.

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But with the solar wallet is the opposite, because it does have an expiration date, taking into account that what is entered first is the first thing to be spent. If you change vendor, there is no problem, because in many cases you can take whatever you have in your wallet as gifts or services.

In any case, there may be differences between all these services depending on the marketer, because after all we are not talking about names of services established by law, but names that are used for promotional purposes, and that each marketer could be using in a different way. or another way. It is important to know that they exist and that you can search for them, but remember to take a good look at the conditions of each one of them.

About Alicia Peters

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