Ultimate Guide To Florida’s Net-metering 2022 Update
Net metering is one of the tremendous financial perks going solar offers. Depending on your solar system and any incentives you opted into, a meter was likely installed with your system. If your rooftop solar panels produce more electricity than needed, any excess is sent through that meter and into the utility electrical grid. As it flows into the meter, you earn equal credit on a future utility bill. Currently, Tampa Electric Company (TECO), Duke Energy, and Florida Power & Light (FPL) all offer utility net metering programs in Florida; however, that could change soon.
Recently, an anti-rooftop solar bill, Senate Bill 1024 and House Bill 741 respectively, was introduced in the Florida legislature. This bill is aimed at gutting the state’s net metering policy by stripping net metering from homes and businesses that go solar in 2024 and beyond. If passed, this would also permit punitive fees on solar customers. A major utility company argues that this arrangement is fairer for non-solar customers who allegedly subsidize solar customers. This stance could decimate solar choice for customers, jobs, and economic development in Florida.
At the time of this article, Senate Bill 1024 has passed the legislature and is awaiting Governor DeSantis’s signature or veto. By signing this bill, solar financial benefits for Floridians would effectively be eliminated and allow utilities to impose new fees on solar owners. To ensure that your home can keep net metering for the next 20 years, all solar panel installations must be completed by the end of 2023. In addition to the lost compensation for excess energy, rate schedules could be considered that include increased “base facilities charge, electric grid access fees or monthly minimum bills” to guarantee that solar owners pay more than non-solar owners.
If you are on the fence about going solar, now is the time to schedule an estimate! The Solar Bear team can help you lock in net metering benefits, recommend energy-saving solutions and assist with financing. Get your free estimate here or give us a call at (813) 922-3735 for more information.