Net metering is a billing arrangement utilized by utility companies to credit customers who generate their own electricity, primarily through renewable sources such as solar panels.
Net metering is a billing arrangement utilized by utility companies to credit customers who generate their own electricity, primarily through renewable sources such as solar panels. It involves tracking the electricity consumed from the grid and the surplus electricity produced by the customer's renewable energy system.
Without net metering, homeowners are typically left with the sole option of investing in expensive battery systems to store excess solar energy. This can significantly extend the payback period of a solar power setup, making renewable energy less financially attractive for many.
With net metering, excess electricity generated by a customer's renewable energy system is fed back into the grid, earning them credits on their electricity bill. These credits, often at retail rates, allow customers to offset their grid consumption with the excess energy they produce, making renewable energy more economically viable and accessible.
It's important to note that while net metering allows customers to receive credits for excess electricity produced, net billing involves customers selling their excess electricity to the grid at a predetermined rate. Net metering typically credits customers at retail rates, whereas net billing involves selling surplus electricity at wholesale rates.
Net metering serves as a crucial incentive for the widespread adoption of renewable energy systems. By promoting decentralized electricity generation and grid stability, net metering contributes to a more sustainable energy landscape that benefits both customers and the environment.
Some notable examples of companies offering net metering solutions include GridUnity, Energy Toolbase, Bidgely, PowerHub, Clean Power Research, EnergySage, and many more.
Ready to take control of your energy consumption and help bring more renewable energy to the table?
Learn more about net metering policies in your state on the DSIRE website: DSIRE - Database of State Incentives for Renewables & Efficiency
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With the increased adoption of renewables and growing threats from natural disasters, our power grid faces more pressure than ever. Gridware, a cutting-edge energy company, is stepping up to address these challenges.
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