Most people know the environmental benefits of solar power; especially in a time very focused on how our current energy use affects our overall climate. However, what if we told you there were a myriad of other, more personal benefits to using renewable resources? Solar net metering can not only make you money, but it can pay for backup energy just in case. The monetary and safeguard benefits a solar panel can provide are endless, so let’s discuss some of the major benefits retail net metering can provide for you!
How Does Solar Net Metering Work?
Most people who have a renewable energy system, like a solar panel, are eligible to participate in either a city or statewide net metering. Solar net metering hooks your solar power system up to your city’s power grid, allowing you to give energy back to the grid during the day that you don’t use. In the evening or on cloudy days when your panel can not get energy, it can take what it needs from the power grid provided by the city.
When you give the excess energy generated by your rooftop solar back into the grid, net metering keeps track of the amount of energy your giving. Depending on the state you live in, a certain amount of that energy will give you a set credit back, which will reflect on your utility bill. If you need to use the grid system, either at night or when it’s cloudy out, you can use those credits so you don’t have to pay to use the grid. In 2016, 41 states had specific net metering bills, so check your local state government site for details.
Retail Rates
Not only do you get a credit on your bill, but you can also get that money back completely. If you’re using clean energy, but also using it wisely, you can give back enough solar electricity to pay for itself.
In Washington DC, there is no cap as to how much excess can be given, and depending on the retail rate of power at the time of usage, they give you back a credit worth 100% of the price anyone else pays for electricity. In 2017 in Nevada, a bill was passed that made retail rates to give money back 95% and it will go down a bit as users start to buy solar, flooring out at 75%. You can find out if your state supports net mining and what your rates are on DSIRE’s website.
The # Benefits to Using Solar Net Metering
Now that you know how solar net metering works, you know how it can benefit your pocketbook! But what are other benefits? Why should you choose solar power so that you can use net metering to save you money? Here are other benefits that directly affect you as a power-using consumer.
Simple to use
Once installed, solar power systems are easy to use and cheap to maintain. However, one downside for solar use can be living ‘off the grid’. Energy storage systems are expensive and they only get more expensive the larger you buy them. Plus its an added cost for install and maintenance those batteries.
Although these systems becoming more cost-efficient they still have a long way before they are affordable. Currently hooking up to your local grid is the most economical way to keep your excess electricity from being wasted.
Give power back to the people
Allowing yourself and encouraging those around you to get an awesome residential solar energy system means that you and your local community can contribute to cutting down the cost of electricity immensely. Using your power system in your own home is not only cost-effective, but it gives you the power of knowing you are self-reliant.
Growth in the job market
Although solar power is easy to maintain it may still need someone to look at from time to time. This means using solar power will grow your local job solar industry to keep up. All solar powers need to be solar installers and may also need a very occasional repair.
Also, the more people who buy solar, the quicker the industry will need to be advanced. This means that an already extremely efficient solar power system will need researchers to make the technology even better.
Giving back to power
Net metering doesn’t just affect you, it also benefits the power companies you connect up too. Although utility companies may see net metering as a loss of revenue, it can also greatly benefit the demand for electricity during peak usage. This prevents grid strain and long-distance energy loss. When solar customers are distributing power to their local grid, it helps your local economy and keeps your local grid in better shape.
Benefits of States Without Net Metering
Some states do not have net metering or if they have it, its benefits are very low. Remember you can still save money if your state does not have net metering! Solar energy industries push for tax credits to help benefit those that go solar. And remember, even without net metering some of the benefits previously mentioned can still apply.
Live in Nevada and Want to Participate in Net Metering?
In 2017 there were changes to Nevada’s laws on net metering. Now is a great time to take advantage of the Nevada net metering bill —get the most for your excess energy!
If you’re interested in getting a setup today, please contact our staff at Sol-Up. We’re well informed on Nevada solar laws and can help you get a great solar panel system that works great for you!
