How to make more profit in Crypto – Solar?
Make money with solar?
In this video & article I explain how I was able to make more profit from mining Cryptocurrency by installing Solar panels on my roof. There is a few reasons why I decided to get solar. The first is to reduce my carbon foot print. We all have to do our bit to try and make the world a better place and there are some really easy ways to do this. That was the first reason.
The second reason was that I like to support the Solar industry. This is an industry that can solve allot of problems for humankind rather than burying it. Other industry’s out there are not so friendly towards out future.
The last reason was that I could use some of the power to mine Cryptocurrency. The panels will pay of the mining rig and the mining rig will pay off the Solar. This will happen at a much faster rate then if I was able to get some money back on my power bill from the energy company.
How does it work?
The sunshine hits the panels and then flows down into the house first, so you use the power before it goes out to the grid. And you can get a refund of power supplied by your energy retailer.
The current feed in tariff in Australia is not much something like 12cents per kilowatt hour on a good day you can put in about 4 kWH to the grid.
This is middle of winter figures so this would be higher in summer. You need to also take into account that you are using the power first before it goes out to the grid. Fridges will use that power before it goes out. The actual figure would be higher then 4 kWh. Because the feed in tariff is not much its important to use the power before it goes out to the grid. In this case I am using it to mine Ethereum.
You could go one step further and install a battery. That way any power would be stored in the battery and used at a later time. The problem with this at the moment is that the battery’s cost far outweighs moneys saved. Buying a battery would be money wasted pretty much.