What is Net Metering and How Does it Work?
We all want to find ways to save money. Whether it’s cutting coupons (remember those days?) or finding a great shirt on the clearance rack, everyone loves a great deal.
One phrase you’ve probably heard when it comes to solar energy savings is net metering, and how it can save you money on your electric bills. But how does net metering work?
It might seem a little confusing, but don’t worry. We’ve got you covered. Here’s an easy to understand explanation of net metering!
Set up your solar energy system
Call a solar energy company like Solar Me to design and install your solar panels on your roof. Once they are installed, your solar panels will be connected to your home and to the electric company grid.
Why is it important to stay connected to the grid? Staying connected to the grid allows you to either power your home with solar energy or with energy from the electric company.
This depends on your energy needs, time of day, and time of year. More on this in just a moment!
Start using solar energy
How much money will I save with net metering?
Your solar panels will gather energy from the sun throughout the day, rain or shine. This clean energy will help you save the environment, and you’ll save money on electric bills throughout the year.
Most of the time, your solar panels will collect way more energy than your home will need during the day. However, if for some reason your solar panels don’t create enough energy on a given day, your meter will pull electricity from the grid to keep the power on. No gaps, no power outages, no matter what!
Now, we know what you’re thinking… But what happens when the panels generate extra solar energy?
Utilize net metering for your energy bills
Do I need to stay connected to the grid for net metering?
So now, any energy you’ve used from the electric company to power your home is pulled from your stored credit. This is how net metering lowers your electric bill without the need for expensive batteries!
Keep in mind that net metering can vary based on your state and utility usage. In most cases, this credit is dollar for dollar! But it is important to find out if your local utility participates in net metering, and what the compensation rate would be for your home.
Need a visual? Here’s a real image of an energy bill from one of our customers in New Jersey:
This is what they typically pay now that they use net metering to lower their electric bills with solar energy.
Solar Me can help you figure out how much money you would save each month! Just contact us for a customized free quote and we’ll walk you through the process.
We are always here to answer your questions, and make sure you feel confident in your switch to solar.
And this month, we have a special promotion of $0 down with 0% financing, plus we pay the first 8 months of your installation plan.
Contact us today to learn more!
Resources:
https://www.seia.org/initiatives/net-metering
https://www.solarunitedneighbors.org/learn-the-issues/net-metering/
https://www.solarunitedneighbors.org/learn-the-issues/net-metering/
Written by Megan Carver | May 15, 2021
