We all know that there are lots of advantages to going solar. Here’s one that we think deserves a little more time in the spotlight: net metering.
According to the National Renewable Energy Laboratory (NREL), net metering is a “metering and billing arrangement designed to compensate distributed energy generation (DG) system owners for any generation that is exported to the utility grid.”
Net metering lets you sell excess power back to the electric company. Instead of cash, this power is credited back to your bill at the same retail rate the electric company charges you. Sounds great, right?
Bad news: net metering is going away. Electric companies have lobbied hard to oppose net metering and reduce the value of this system to homeowners.
Good news: if you have solar panels installed on your home before December 31st, 2019, your system will be grandfathered into net metering for 25 years.
Benefits of net metering include:
- The ability to zero your bill
- Protection from utility rate hikes
- Supporting clean energy while saving money
- Net metering uses existing metering equipment
- Allowing homeowners to play a role in energy sustainability
If you are considering installing solar panels in New York, now is the time to buy. Call High Peaks Solar today to lock in net metering for your home!