Have you heard about net metering? Generally speaking, its the practice – allowed by some utilities – of “turning back” your power meter when you generate more renewable electricity than you can use at the time.
Let’s say you have solar panels on your home. When you feed extra solar electricity into the grid, your meter actually turns backwards. Then, when you have to draw on power from the grid, you get a “credit” for the energy you have already produced.
Also known as electricity buyback, the positive economic results from net metering rewards owners of solar panels.
With solar panels, wind power or other renewable energy systems, any homeowner that generates more electricity than used can feed back the excess into the grid. Net metering/electricity buyback can help you save 50% or more on your monthly power bills.
In order to encourage the practice of renewable energy and electricity buyback, local and federal laws have been passed. Net metering is now less of an “exception” to the rule, and can pretty much be found anywhere in the U.S.
Overall net metering rewards owners of solar panels for investing in the renewable energy resource. If you want to learn more, you should visit the website of your local utility.