How do net-metering systems offer higher returns?
If you are wondering about how and why net-metering offers huge returns and how it helps you shore up your savings, it's evident that you already know the energy billing mechanism revolving around the solar industry. We have already tried to simplify the concept of net-metering in one of our previous articles. And if you still have any doubts or reservations about solar net-metering then you can read our article about how net-metering works?
So, now that you are already here, it's obvious that you are interested in the financial benefits accompanying net-metering. So let us have a look at the most obvious reasons that make your decision of going solar a no-brainer.
Extra financial credit
If the amount of energy generated by the rooftop owner’s system is more than the amount of energy consumed, then the owner will receive extra credits and revenue for the surplus energy fed into the grid.
Eliminates the need for backup generators
Unlike off-grid PV systems, solar rooftop owners don’t require battery storage systems while using net metering since the extra power is stored by the utility grid itself. It also eliminates the need for exorbitant generators since the electricity grid also acts as a backup generator.
Reduces the requirement of energy storage
In case of net-metering, the grid acts as a huge ‘bank’ and ‘stores’ your extra solar power for times when you don’t have sufficient generation from your solar rooftop. This eliminates the need for an expensive battery bank that you would have otherwise needed for night-time use or during unfavourable weather conditions. A small battery backup system should be sufficient for any power outages that you may be facing in your area.
Inexpensive and low maintenance
Since solar panels themselves are low maintenance, the main parts of a solar PV system that require maintenance would be the batteries and generator. However, with net metering, you can eliminate these components and further decrease the maintenance requirements.
The major components needed for an on-grid net-metered system are solar modules and a grid-tied inverter that converts DC power from the solar panels to standard usable AC power produced by the utility. Both these components require very little to no maintenance at all as there are no moving parts involved.
What we just discussed above are few of the many reasons about how you could benefit by opting for net-metering. Besides these going solar has many more advantages for you as well the environment with no downsides. So are you ready for your next step with solar?