Net metering rules are designed to motivate utility users to invest in renewable energy sources on their properties by ensuring that solar electric system owners are compensated for the energy they produce. This policy provides a key incentive for customers looking to contribute to the availability of safe, reliable, and affordable electricity and help protect our environment.
Net metering refers to the compensation the owner of a renewable energy system receives when the system produces more electricity than the facility uses. Net metering helps customers make the most of their renewable energy investments.
When a renewable energy system produces more electricity than the customer actually uses, it spins your meter backwards to distribute the additional electricity back to the electric grid for use as needed by other customers. As this electricity is sent back to the grid, your utility company buys it back at peak utility rates and will pay you the highest value for the excess energy you’ve generated. Typically, the “wholesale rate” of surplus electricity is $.07/kWhr.
All solar electric generating facilities that qualify for the New Jersey Clean Energy Program’s Solar Renewable Energy Certificate (SREC) Program are subject to net metering regulations.
Do you have any questions? Call Entech at (800) 571-8661 to get your system working for you, your wallet, and your environment.