Installing a solar panel is a great option for homeowners looking to capitalize on some sweet solar energy. The sun’s energy produces more (or less) energy in different locations, so if you’re a homeowner with excess production, why not earn something from it? That’s where net metering comes in, but how exactly does it work, and more importantly, how can you benefit from it? Our residential solar panel experts in Illinois are here to help you understand how net metering works and how you can enjoy it for yourself!
What Is Net Metering?
Quite simply, net metering is a mechanism that offers credit from utility companies for customers who make more electricity than they use. The utility company will then distribute the energy generated from your home back into the electric grid. Consider net metering as a way to maximize energy production while providing benefits to both homeowners and utility companies. Most public utilities like Ameren or ComEd participate in 1-for-1 net metering.
Net metering is the most commonly used method, but there are also two additional ways some power companies keep track of energy credit. Net billing is similar to metering in that it allows you to sell the excess to the electric company, but you won’t receive credits for future billing cycles. The majority of electric cooperatives and city power grids utilize monthly net billing.
How Does Net Metering Work?
When it’s sunny and clear outside, you’ll generate more electricity spinning your meter backward. When it’s dark and cloudy, you will pull from the credits you put on the grid, kind of like rollover minutes. At the end of every billing cycle the utilities will send you a summary (usually on your bill) of the credits you produced and those that you consumed. Leftover credits carry over to the next month. In the event that your home cannot accommodate a 100% offset, the utility will bill you for the remaining balance of kWhs consumed at the end of the billing cycle.
Why You Need Net Metering
Raise your hand if you want to save hundreds of dollars on your energy bills! Going solar has plenty of benefits, and net metering is one of the biggest ones. Net metering is a unique way for homeowners to earn money, so don’t fail to take advantage of it. Additionally, your home will generate electricity for homeowners nearby, reducing the strain on the electric grid for all. Many non-solar customers believe that net metering programs put a burden on their wallets, but many studies have shown that net metering provides benefits galore without unnecessary burdens on anyone else.
Is Net Metering Available to Me?
Net metering is available in Illinois, but how can you be sure if your state offers net metering? The Database of State Incentives for Renewables & Efficiency (DSIRE) is a great resource for discovering solar policies in your area, and it’s important to remember that solar laws and rules are constantly being researched and adapted. There are 38 states (and the Nation’s Capital) that abide by net metering rules, and some other states that don’t have net metering regulations have certain locations where it’s accepted and others where it isn’t.
Benefit From Net Metering With a Solar Panel From eEquals!
Are you considering the benefits of net metering? The first step to becoming a net metering pro is to secure a beautiful solar panel from the experts at eEquals. Our solar panel company provides homeowners all around the state with roof or ground-mounted solar panels that offer more than enough energy for your home and wallet. Having the right team can keep your roof safe and protected and ensure panels are strong and sturdy in your home. Want to learn more? Contact us today, and we’ll explain the entire solar process — including net metering — and how it can benefit you!