Whether you’re the head of a business or the head of a household, there are many reasons to consider making renewables a part of your home or facility’s energy infrastructure. Thanks to technological advancements in solar, wind and storage capabilities, as well as streamlined manufacturing processes, renewables have never come at a better value. And there are environmental benefits in decreasing reliance on the utility electric grid. If you’re a business leader, making renewable energy a staple of your operation can even improve consumer perception of your brand.
The investment in renewable energy infrastructure frequently comes with financial incentives as well. Depending on where you’re located and the type of system you install, you may be eligible for valuable incentives or tax credits. But one of the most significant financial benefits that comes along with integrating a renewable energy solution is also one of the most misunderstood: net-metering.
What is net-metering? Essentially, businesses or homes outfitted with a system that generates electricity on-premises may be eligible, based on state-by-state legislation, to return surplus energy back to the utility grid. The on-site electric meter rolls back, accounting for the energy generated by the renewable system, if it is not all being consumed on-site at a given time. Thus, homeowners or businesses pay only for the “net” energy consumed.
At the beginning of 2016, 41 states and the District of Colombia had a net-metering policy in place permitting homeowners and business leaders to take advantage of credits from their renewable systems. But as adoption picks up, energy providers are now looking for the best way to engage with net-metering participants. As a result, the policies surrounding net-metering can vary by utility and by state and have evolved over time.
Before taking advantage of the benefits of solar yourself, it would be wise to track the net-metering regulations in your state. You can stay up to date by checking out the National Conference of State Legislatures’ net-metering page here.
Once you’ve determined that you are eligible to take advantage of net-metering where you live, take the next step and check out how the renewable energy systems available from ConEdison Solutions may be able to help you achieve cost savings. Click here to learn more.