The cost of renewable energy systems has fallen dramatically over the past decade, and an increasing number of homeowners are beginning to generate their own energy to power their homes. There are many different ways to generate renewable energy using systems such as wind turbines, biomass boilers or ground source heat pumps, but the most effective and cost efficient method is through the use of solar panels. As energy bills continue to rise, many people dream of being able to go completely ‘off the grid’ and become self-sufficient, but storing the energy produced from home systems can be a problem. High energy users, or those who live in large properties, may not be able to generate enough energy for their daily use and may need to top-up their supply with power from the utility companies. Net metering provides the perfect solution for homeowners who can generate a small amount of their own power, and those who sign up to the scheme will receive financial rewards for every unit of power they generate.
What is Net Metering?
Net metering is a government-backed scheme where homeowners can send electricity generated from their renewable energy facilities back to the grid. Power companies will then credit their customer’s energy bills for the amount of energy units that are sent, and this allows homeowners to offset the cost of their electricity bills. Customers who generate more energy than they need can store the excess energy with the power company and roll their credits over to the next month. The scheme provides the ideal halfway point between going completely off the grid and purchasing energy solely from the power companies, but it can also act as a long-term solution for those looking to save money on their energy bills by producing a small amount of power.
How Solar Panel Owners Can Benefit
Homeowners who live in areas that do not receive year-round sunshine will benefit greatly from this scheme as it allows them to store their energy for future use. In Maryland, credits can be continuously rolled over for a period of 12 months, and power companies will then credit their customer’s bills for every unit they receive at retail price. Even if you are not at home for a large portion of the day, or decide to take an extended holiday, your solar panels will continue to save you money by generating energy and sending it back to the grid. Installing solar panels in Annapolis will allow homeowners to take advantage of the scheme without having to install specialised meters or pay a connection fee.
Solar power is fast becoming a viable source of energy that allows homeowners to save money on their energy bill whilst simultaneously reducing their carbon footprint. Solar panels can be installed on virtually any property that receives direct sunlight for a large portion of the day, and installation experts can advise you on exactly how much energy you could potentially produce using your home system. They can even help you calculate the predicted savings on your home energy bills, and this allows you to make an informed decision on whether or not solar energy is the right choice for your home.
Ryan McNeill researches alternative power sources and their practical implications. He often writes about questions and concerns people have about energy sources.