If you’re looking into solar energy for your home or business, you probably have heard the phrase “net metering.” At Orbit, our goal is to make it as easy as possible for you to switch to solar. Part of that is understanding the benefits!
What is Net Metering?
So, what exactly is net metering and how does its benefit you? Net metering is a very useful incentive for solar energy. This incentive lets all solar owners and users who produce excess energy to send that extra energy to the electric grid. Other people in your neighborhood will use this energy being sent to the grid. You then will be compensated for this! Your utility company will give you credit for the energy you’re sending to the grid. This will help lower your monthly electric bill and even eliminate it!
How does it work?
Solar panels may produce more electricity than you’re actually using throughout the day. That electricity is then sent back to the grid, which essentially makes your electric meter run in reverse. So, when you start to use more electricity than your solar panels are producing that same electricity that was sent to the grid is then used again. At night or during a cloudy day, you are pulling that electricity back from the grid and into your home. When you get your electric bill, you’re only going to be billed for what was taken from the grid, creating the term net metering.
The amount of energy you produce throughout the year varies due to weather and the changing seasons. Cloudy days will make your solar panels produce less energy, so when you draw your excess power back from the grid, your house will still have enough electricity. And on sunny days, your panels may produce an excess, which will be credited for later use!
Do you receive money for net metering?
With the credit that you are receiving from the extra energy you’re putting into the grid, will save you money in the long run. You won’t necessarily be receiving money for net metering, but you will vastly lower your electric bill. In many states, there are other incentives that actually do earn you money. So, you may not be making money with net metering specifically, but you are taking money off of your electric bill. And a penny saved is a penny earned!
Ask our solar experts about the incentives that are available to you for solar energy! If you don’t already have solar panels, and are interesting in installing them, don’t hesitate! Contact the solar experts at Orbit today!