IoT Energy Management for the Future The use of solar power on a large-scale basis…
Net Metering – Bankroll of Solar Energy
For many years, society has been progressively adapting an environmentally conscious agenda in a global stride to make the world more eco-friendly. This “green” way of life has sprouted more energy responsible habits like recycling, using chemical-free products, and switching to renewable energy, like solar power. An extra benefit of solar energy is net metering.
Solar panels, the reflective squares that are seen on rooftops or beside buildings, or even attached to a portable street sign, harness sunlight to generate power. Many people are starting to value the benefits of this form of renewable energy. From balloons to cookers, almost anything can be turned into a solar energy device now.
Between 2014 and 2015, residential solar installations in the U.S. skyrocketed up 66%! However, switching to this convenient source of energy isn’t just beneficial for the environment; it’s also good for residential and commercial property owners. Not only do solar energy customers save money on their electricity bills, they also earn money with net metering–a billing mechanism that credits solar energy system owners for the excess electricity they add to the grid.
Credits for Net Metering
Net metering for solar is the way utilities determine how much is owed on an electricity bill. However, this process isn’t the standard “here’s the bill, now pay up” kind of deal. Instead, net metering also determines the excess solar power collected, so the process also results in extra money. This is the main principle of net metering; it’s both a crediting and payment system.
Net metering offers a surplus in net metering credits. Although policies vary by region, and solar net metering itself varies from state to state, property owners using solar energy are credited electricity retail. So, overall, this results in receiving a bill that gives, rather than takes.
If a home or building generates excess electricity from its power needs, that electricity can be sold back to the power grid at full retail price. Instead of receiving hard cash, the owner will be credited the extra amount to use during periods when there isn’t enough sunlight to generate all the electricity they need. Utility providers are used to make up the difference.
Solar Energy – Always Available
Solar net metering is a brainy way to pay less and secure assets property owners will need in the future. Accumulate credit during the sunnier seasons and reap the benefits when a darker winter arrives. Solar energy is the new and improved way of powering homes and businesses. In fact, more than 1 gigawatt (GW) of solar capacity—enough to power 193,000 homes—has been installed by top corporate solar users; including Amazon, Target, and Walmart. The sun is going to come back tomorrow, use it!