Quick Answer
Net Metering is a good idea for homeowners who want to generate their own solar power and sell any excess back to the grid, reducing their electricity bills and increasing their energy independence.
What is Net Metering?
Net Metering is a policy that allows homeowners with solar panels or wind turbines to sell any excess energy they produce back to the grid. This is done by installing a bi-directional meter that measures the amount of energy produced and consumed. In the United States, for example, the average homeowner can save up to $1,000 per year on their electricity bills by installing a 5 kW solar system, which can produce around 7,200 kWh of electricity per year.
Benefits of Net Metering
The benefits of Net Metering are numerous. Homeowners can save money on their electricity bills, reduce their reliance on grid electricity, and even sell any excess energy they produce back to the grid. In addition, Net Metering can also help to reduce peak demand on the grid during hot summer months, which can help to prevent brownouts and blackouts. For example, a study by the National Renewable Energy Laboratory found that widespread adoption of solar energy could reduce peak demand on the grid by up to 14%.
Setting Up a Net Metering System
To set up a Net Metering system, homeowners will need to install a bi-directional meter and obtain approval from their utility company. The cost of installing a bi-directional meter can vary depending on the location and type of meter, but it is typically around $500-$1,000. Homeowners will also need to ensure that their solar system is properly sized and installed to take advantage of Net Metering. This can be done by working with a qualified solar installer who can assess the homeowner’s energy needs and recommend the right size and type of solar system.
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