Can I Make Money Selling Electricity Back to The Grid in Florida?
The popularity of renewable energy continues to rise. With that, comes more efficiency. So, what happens when your solar system is more efficient than expected? Any of that excess energy produced can actually be used by most of Florida’s utility companies. Solar Bear of Tampa looks at the different ways utility customers can add more profit to their solar-generated power.
Currently, Florida has no standardized solar pricing rules and regulations, which makes it more difficult to discern what a fair payment is for a homeowner that produces excess solar energy. However, net metering is perhaps the most popular solar incentive program operating in Florida. All of Florida’s investor-owned utilities, Florida Power & Light (FPL), Duke Energy Florida, Tampa Electric Company (TECO), and the Florida Public Utilities Corporation, offer this program to their customers. Once the utility company approves, solar owners can earn credits for excess energy that they send to the grid to offset their grid usage when panels are not generating power. Each program comes with critical nuances for customers to understand before signing up for this service. For instance, FPL offers a full retail net metering program where every kilowatt-hour (kWh) of solar energy produced is worth the same amount that a utility company charges for electricity. They also enforce a $25 minimum bill requirement that cannot be offset, no matter how much energy is produced.
However, there is an option to sell electricity back to companies that don’t rely on net metering, it just may take longer. The first step is to discuss options with your utility company. They will be able to convey the process and any qualifying credits. Several of Florida’s large utility companies also offer programs that deliver savings over time. Duke Energy Florida’s “Shared Solar” and “Clean Energy Connection” along with TECO’s “Sun Select” program provide customers with solar energy offsets that can lock in fuel charges at current rates.
So, it is possible to make money by selling excess electricity back to the grid. In most cases, it comes in the form of utility credits. If you’re interested in learning more about the power of solar energy and its financial incentives, speak with our team of experts at Solar Bear of Tampa. Call us at (727) 741-7442 or schedule your free estimate online today!