What is Net Metering – The Concept
Are you looking into solar panels and wondering what net metering is? Net metering is a straightforward concept that benefits homeowners who generate their electricity with solar panels. When your panels produce more electricity than your home uses, the excess gets sent back to the grid. In return, you receive credits on your utility bill, which you can use later. You pull electricity from the grid when your panels don’t produce enough power at night or on cloudy days. It’s that simple.
A Win-Win
Net metering is a financial win for homeowners and utility companies alike. By generating your own electricity, you significantly reduce your bills. This promotes renewable energy and puts you in the driver’s seat of your energy costs. The excess electricity you produce causes your meter to run backward, cutting your electricity costs even more. You benefit and support grid stability, all while encouraging the adoption of solar power systems.
Here is what OG&E says about net metering.
What is Net Metering? (1)
When you take part in Net Metering, you can lower your energy bill. How? You produce some of the energy you use with an eligible generating facility. Your energy bills will reflect the net amount of energy you use. An example would be the amount of energy delivered to you minus the excess energy sent to OG&E’s system.
How it Works
A net-energy customer’s generated electricity exceeds their consumption during a monthly billing period. The customer shall be credited, or paid, in dollars in the next billing period(s) at the applicable on or off-peak price of OG&E’s Avoided Energy Cost. View the current Net Energy Billing Option rates.
Can I take part in Net Metering?
You are eligible to take part in NEBO (Net Energy Billing Option) if:
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- You own or operate an eligible generating facility less than or equal to 300kW (AC-rated).
- It is for your use.
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To take part in NEBO, your system:
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- It should be sized to meet some or all your energy needs.
- It cannot produce more than 125% of your peak load.
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Systems are not eligible for the NEBO tariff if they:
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- Produce net excess energy
- With an installed capacity greater than 125% of the customer’s peak load.
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Said systems will default to the QF Tariff for the provision of all billing services. The customer’s peak load will initially be determined:
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- As a customer’s peak demand
- In kilowatts
- For the 12 months immediately before requesting service under this NEBO tariff.
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The peak load is subject to redetermination if:
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- Significant changes in customer load occur
- And/or if modifications are made to the customer’s generating system.
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Do you want to Take Part in Net Metering?
If net metering is to be included in your solar power program, we’ll help you pick the right solar power system. It will meet your goals. It all starts with a Discovery Meeting. Find the right solar program for your home or business.
* 1 Reference: https://www.oge.com/wps/portal/ord/energy-solutions/renewables/faqs/