How Is Net Metering Calculated In Orlando?
If you’re planning on installing solar in Orlando, you might be wondering if net metering is an option for you. The answer is yes! Today, we will explain what net metering is, how it works, and why it can be a great way to save money.
Our team at Solar Bear Orlando breaks it down!
What is Net Metering?
Sometimes on sunny days, your solar panels will generate more energy than your home needs to power everything you need to be comfortable. Net metering allows you to receive credit for this excess energy by feeding it back into the grid.
For Central Florida residents, that means that on the days when your system produces more energy than your home consumes, you can reduce your utility costs significantly, which is a major win!
Learn More > What is the Difference Between Net Metering and Net Billing?
Benefits of Net Metering
Here are some of the great benefits of net metering:
#1. Money Savings
Since you are “selling” excess energy back to the grid, net metering can significantly reduce your overall energy costs.
#2. Environmental Impact
Using renewable energy and taking part in net metering reduces our reliance on fossil fuels, which can be quite impactful on the environment.
#3. Energy Independence
With net metering, homeowners can have more control over their energy usage and production, which reduces their overall dependence on the utility grid.
#4. Investment
Net metering allows homeowners to recoup their investment in their solar panels faster than other methods.
#5. Grid Reliability
By producing solar energy and sending it back to the grid, net metering helps stabilize the electrical network and reduce the strain on the utilities during peak demand times.
#6. Economic Growth
Overall, the solar industry and subsequent net metering help support the growth of the renewable energy industry in the Sunshine State, creating jobs and stimulating our local economy.
By supporting the expansion of the renewable energy sector, net metering boosts local economies and creates jobs. It’s a win-win!
How Is Net Metering Calculated?
Calculating how many credits you may get from your utility provider varies, but typically, your total energy consumption is compared to how much energy you’ve sent to the grid at the end of each billing cycle. If you have generated more than you have used, you will receive credits that will roll over into the next month, which can help offset future bills.
In Orlando, many homes are powered by Duke Energy. Their net metering program provides credits for every kilowatt-hour (kWh) of excess energy that is supplied to the grid. When homeowners take part in this program, Duke Energy will install a special bi-directional meter that tracks both energy sent and received from the grid.
Customers will receive a 1:1 credit for the energy they send to the grid, which means that they will get credit at full retail value. Any unused credits are usually paid out in March of each year.
Solar Bear Orlando note: Customers without solar panels can still take advantage of solar energy through Duke Energy’s Clean Energy Connection program.
Take Advantage of Net Metering in Central Florida
If you’re ready to take part in net metering, we’re here to help! We are excited to help you as you begin your solar journey. Call us today at (727) 471-7442 to get a solar installation quote from our friendly team at Solar Bear Orlando.