The cost of solar energy systems has come down in recent years and as a result, more home and business owners are seeing solar as a viable option.
It has become increasingly common to see solar panels on the roofs of homes, warehouses, office buildings, etc. While some homes and businesses could easily produce enough solar energy to meet their consumption needs, however, production is largely weather dependent which means on sunny days they may produce more than they need and on cloudy days, they may not produce enough.
One solution for this issue is Net Metering.
What is Net Metering?
If you are considering solar power for your home or business, it is likely that you have heard the term “net metering” but you may be unsure of exactly what it means. Simply put, net metering is when you produce more energy than you need, and you then sell that surplus back to the power company.
In other words, you are billed only for the net energy that your home or business uses – i.e. the difference between the energy you consume minus the energy you produce. Oftentimes, our clients who are net metered will see their meters running backwards. This means they are producing more power than they are using, and depending on what the local policies are in their area, they may receive a credit on their energy bill.
These credits can then be used for times when solar cells are not producing sufficient energy such as when it is cloudy out or when it is nighttime.
Benefits of Net Metering
- Lower your monthly utility bills.
- Monetize production of excess solar energy.
- Lower the demand on the power grid by supplying your excess solar energy to your neighbours.
- Peak shaving to lower Demand Charges and Global Adjustment charges
- Participate in eco-friendly practices by using renewable energy.
If you have further questions about net metering and you would like to discuss how you might benefit, contact Daisy Energy today.
In Ontario, you are eligible to participate in net metering if you meet the following criteria:
- The energy you are planning to generate is primarily for your own use.
- The energy you are generating is coming from a renewable source (solar, wind, etc.)
- The size of your system is less than 500kW.
- You are not relying on the Hydro Company’s distribution system to consume the energy that you produce.
Net metering can be an ideal solution when there is a storage (battery) system connected to your solar power system. With a storage system, any excess energy produced can be used at the time that it is generated to charge the batteries for use when the power goes out or when the sun is not shining.
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