Have you heard about solar net metering? The concept is that homeowners with solar panels on their rooftops can get credit against their utility bill for the excess solar power generated, but not used by them.
This is because some local utilities are required to buy excess power generated by their customers at retail prices.
The biggest benefit of net metering is that credits usually offset a consumer’s purchase of grid-based power during cloudy days and overnight. Property owners can enjoy a year’s worth of electricity at the price of an average monthly electricity!
On the other side, payments for solar net metering is not necessarily beneficial for the utilities. Not only do they lose payments from customers that would otherwise go to help support the cost of operating the power grid, but paying residential solar panel owners millions of dollars each year for the renewable energy they generate cuts into their bottom line. Experts believe that this will result in higher rate increases for the rest of the customers that cannot afford solar power.
Do you use solar net metering? What have you experienced as the pros and cons of such an arrangement?