Self-consumption surpluses: take advantage of them to mine cryptocurrencies

This article is aimed at those people who already have solar panels or are considering installing them soon. If this is not your case, it would be strange for you to stay reading.

Good.

It is important that you know that if you have solar panels at home or in an industrial warehouse, you can save money or even earn it. Or even that the energy of your house comes out free.

You may or may not sell the self-consumption surplus, the only thing you need is that you have enough solar energy and you can store it in specific batteries for it. Then use that energy in really profitable activities like cryptocurrency mining.

Selling your surplus solar power is bad business

If you have excess solar energy and you have the photovoltaic installation connected to the electricity grid, some companies they let you sell that surplus. Others do not allow it.

The fact is that it has been said that it is a fraud by the electricity companies (you can search on Google), because the difference in price per kWh of sale to that of purchase is an insult. It is like the farmer who receives 1 cent for an apple and the hypermarket sells it for 60 cents. Well the same.

Surplus compensation does not compensate

Both Endesa and Iberdrola in their surplus compensation modality they pay around 5 cents per kWh. But there is a ceiling when it comes to selling your surplus solar energy, since you cannot compensate yourself for more energy than you spend. At most they will pay you the equivalent of a dinner in an Italian restaurant every 2 months.

If you eat a lot, every 3.

Far from discouraging you, I come to tell you the opposite.

Self-consumption surpluses can make you earn a lot of money if you use them well

Of course, you can earn money in the long term and there is risk. That is why it is an investment.

If you have surplus self-consumption of solar energy you may store it in batteries to use it later. Imagine that you live in Galicia. In summer you realize that the sun is not a science class myth and that it really exists. Solar panels are going to collect a lot of solar energy in that season of the year. If you store it, you will have that energy in winter when the gray clouds return.

If you live in Seville, you will have a lot of surplus all year round.

So, one way to take advantage of all that surplus and not lose it is to do something with it. Because it would be better for you to sell it on Wallapop than to the electricity companies.

Mining cryptocurrencies with solar panels increases your profit even more

Cryptocurrencies have an unstable value, like life itself. Sometimes they are up and sometimes down. But in either case, mine cryptocurrencies with solar panels can be profitable. The biggest problem is the energy consumption of the mining rigs, which can make the cost of electricity greater than the benefit of mining.

Problem that is solved by connecting the mining rig or asic to solar panels.

Is buying cryptocurrency mining equipment profitable? Yes, you just have to take into account your energy power and buy a suitable equipment. They are not cheap, I repeat, it is an investment, they are facilities that pay for themselves quite quickly, in 7-8 years, and if the cryptocurrency market goes up, the return can be much shorter.

How can you mine cryptocurrencies with solar panels?

Mine cryptocurrencies with solar energy and save your home energy at the same time.

If you only want to take advantage of the surplus of self-consumption, during the hours that you consume energy it is not recommended that you have the mining system working because you will quickly spend the solar energy. The trick is in schedule mining equipment for hours when you are not using power.

Usually it is usually at night or on weekends. At night we do not usually use electrical appliances with high energy consumption such as ovens, ceramic hob, washing machines or television. It is also when it is cooler, which will save you the cooling system of mining Ethereum or bitcoin.

Then, the energy that you have not spent during the day or during the week, you can use to mine cryptocurrencies. Y The money you earn from mining will offset the energy costs of your home and the investment in solar panels.

Mining cryptocurrencies 24 hours a day with solar panels. It can?

You can mine 24 hours a day, 7 days a week or take advantage of the remaining energy for mining. It will depend on the number of solar panels you have and the power of each plate. The more energy you have left, the more time you can spend with the mining rig running.

The hours in which you use the most solar energy for your own consumption are usually from 8 in the morning until 11 at night. I have included the peak hours, that is, those hours in which more energy is spent at home or at work.

Count on that when calculating your usage.

Many solar panels do you need to mine cryptocurrencies?

I will explain it to you with an example.

I don’t know if you live in Madrid, but imagine you do. In summer there are more daylight hours and in winter less. So let’s take into account the annual average of daylight hours, 9 hours.

So at 9 hours of light per day, a month will be 270 hours, the envy of the Nordics.

With a starter mining rig, you would need a minimum of 10 solar panels of 450W of power each, to take advantage of the surplus energy for mining.

Is it worth mining cryptocurrencies with a solar kit?

Let’s do numbers.

Solar panels, batteries, and mining rigs are expensive. And it still pays off.

Costs and benefits of mining with solar panels

Costs:

Solar panels

10 solar panels of 450W power can be around 5,000 euros. If you already have them, don’t count on dropping this paste all at once.

mining rig

Let’s count a starter mining rig with graphics cards included from 3500 euros.

solar energy batteries

Although sometimes they are not necessary, they can cost around 900 euros. And if you already have them, zero. Only change them when they wear out.

The total investment amounts to approximately 9,400 euros. The great advantage is that the energy cost should not be deducted from the benefits that a mining rig can provide, because it is already included, so everything is cold, hard money. In addition to the savings in electricity costs that solar energy represents, which can be 100, 200 or 300 euros per month.

Benefits of mining cryptocurrencies with solar panels:

They can be around 100 euros per month if you only use the solar surplus or up to 250 euros if you have it working all day. Once you amortize the expense made, everything is pure profit.

I leave you with this article on the profitability of mining cryptocurrencies. Keep in mind that you do not need to deduct the cost of electricity.

If you don’t know what to do with your surplus solar energy for self-consumption, with or without a mining rig, the main thing is that you look for ways to make that energy an asset greater than the return you can get by selling it.