In the quest for a sustainable future, renewable energy options such as solar power have become increasingly sought after. North Carolina, a state recognized for its dedication to clean energy, offers the opportunity for residents to generate their own electricity and earn income by selling excess power back to the grid.
In this article, we will delve into the concept of Net Energy Metering and uncover the financial benefits of installing solar panels in North Carolina.
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There can be a lot to learn about going solar in North Carolina, depending on where you are at on your solar journey. To help, here are the key points from this article.
- You can sell your excess solar energy back to the NC solar grid via Net Metering.
- Solar Net Metering is supported by many NC utlilty and solar companies
- To calculate your savings, subtract the energy you used from the grid from the energy you gave to the grid.
- With Net Metering you can reduce your solar payback period to less than 10 years.
- Talk with a North Carolina solar expert about how you can use Net Metering to sell your extra electricity.
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Understanding Net Metering
Net metering in North Carolina is a policy that enables solar owners to earn credits for the excess electricity their panels produce. When solar panels generate more power than is being consumed, the surplus energy is sent back to the grid, causing the electric meter to run backward and accumulating solar renewable energy credits (SRECs).
These credits can be used during periods when electricity consumption exceeds solar generation, allowing system owners to offset their energy costs and maximize the financial benefits of their solar investment. Net metering encourages efficient energy use, promotes savings on electricity bills, and shortens the solar payback period, allowing you to return on your solar investment, faster! Read more about North Carolina solar incentives.
North Carolina's Net Metering Policy
North Carolina has a net metering policy that allows solar system owners to receive credits for the excess electricity they generate and feed back into the grid. Under this policy, the credits earned through net metering can be carried forward for up to 12 months!
The net metering program in North Carolina applies to residential and commercial solar installations with a capacity of up to 1 MW. to be eligible, you must be customers of an electric utility that offers net metering, and the system must comply with safety and interconnection requirements. The program enables solar system owners to offset their electricity consumption with the excess electricity they generate, resulting in reduced energy bills and potential cost savings.
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Calculating Net Metering Credits
When a new solar owner installs a solar system, a net meter is typically installed as well. This special meter measures both the electricity consumed from the grid and the excess electricity generated by the solar panels. To calculate net metering credits, the solar owner needs to monitor the electricity generation of their solar system using the system's monitoring equipment while also keeping track of their electricity consumption from the grid through net meter readings. If the solar system generates more electricity than is being consumed, the excess electricity is fed back into the grid, causing the net meter to run backward. The solar owner earns credits for the energy they contribute to the grid, which can be carried forward to future billing periods.
It's important to review the specific net metering policies of the utility company to understand the calculation methods and any additional factors that may impact credit calculations, such as rate structures or seasonal variations. Consulting with the utility company or a qualified solar installer can provide further guidance on accurately calculating net metering credits for a specific solar system.
Read Also: The Cost of Solar Panles in NC
Selling Your Excess Solar Energy
Net metering in North Carolina is an incredible opportunity with a multitude of benefits that make it an excellent option for solar owners.
Firstly, it allows you to significantly reduce your electricity bills by generating your own clean energy and earning credits for any excess electricity you produce. You can even earn money for the surplus energy you contribute to the grid, turning you into a solar superhero.
If you're considering going solar and exploring the potential of net metering in North Carolina, reach out to EcoGen America. Our team of experts can guide you through the process, helping you unlock the full potential of solar power and maximize your savings.
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