Net metering is a terrific advantage of having a solar energy system. For those without a solar energy technology background, net metering is when you provide excess power to energy companies for use on their grids. For example, if your home or business produces more energy than consumed, that excess energy is sold back to your local utility providing you with decreased electric bills or, in some cases, even a refund.
There are currently no national standards for net metering, but Maryland solar experts can tell you the state’s standards are at that top of the table. Any of our energy auditors can easily explain your available options depending on where you live and any local regulations. Once you have a net metering monitor installed with your solar energy system, it’s almost as simple as “set it, and forget it!” Your metering system will monitor your daily consumption use, and compare it toward your daily energy production while keeping a record of the differences. It will also track the date and times of your energy use and any spikes or drops.
The benefit of tracking this information allows utilities, and yourself, to develop the best energy rates. Solar energy systems will naturally produce more energy and power during daytime hours while the sun is out, which also coincides with the highest demand times for energy. If your system produces more energy than you need during that time, you can “sell” that excess energy at a premium rate since energy demand is high. At night time, when demand is low and your system isn’t producing as much energy, you are then “buying” electric at a decreased amount since demand is normally lower. Net metering provides for a simple way to monitor your rate exchange with your utility company.
The US Energy Policy Act of 2006 requires utilities to provide each residential and commercial end energy user with net metering. This dramatically helps to streamline opportunities to work with your local utility and ultimately provide you with the cheapest energy in today’s market.