Adding solar panels to your home is an excellent investment for many homeowners. And one that can offer a lot of benefits.
Solar panels are eco-friendly, and they will let you meet most, if not all, of your energy needs with green energy.
They can also be an excellent investment for your family financially too. Using solar panels can save you a lot of money on your electric bills. In some cases, you may even be able to eliminate your electric bills. From the utility company by installing a solar panel system in your home. And, especially with energy costs soaring, the savings will just get bigger and bigger over the years.
Not only that but there are currently some great solar tax benefits from both the federal and some state governments. These help to reduce the upfront costs of installing solar panels.
But can you get paid to use solar panels too? If you produce enough power, can you sell solar energy back to the power company? Keep reading to find out the answer!
Can You Sell Solar Energy Back To The Power Company?
Yes, you can sell solar energy back to your utility company. But it depends on where you live and who your electricity provider is.
The process of selling solar energy back to the power company is known as net metering.
It allows homeowners to take the solar energy they produce but do not use and sell it back to utility companies. That results in lower electric bills and/or extra money in your pocket!
The United States federal government mandates that every state buy excess energy from its residents. However, how this process happens is left up to each state to decide how to handle it.
So while over 40 states allow for some net metering, how good a deal it is for homeowners will depend on where you live.
The regulations and fees associated with selling electricity to the grid vary from one state to the next and from one utility company to the next. Some make it easier than others, and there are limits on how much each household can sell through net metering to (supposedly) prevent individuals from taking advantage of the utility companies.
Recently, there has been an effort to make it more difficult for people who generate renewable energy to sell it back to the grid. Mainly because many utility companies don’t like the idea of having to pay homeowners as solar has become more popular.
Unfortunately, this movement has gained some traction relatively recently.
Get Paid For Solar Energy So It Doesn’t Get Wasted
Because your panels occasionally create more electricity than your home uses, net energy metering is a great benefit of going solar. Instead of being wasted, this electricity will be put back into the power grid. And as a result, you will receive credits from the energy company.
These credits will roll over onto your energy account and be used to offset your energy bills when your solar system produces less energy than you use. Thus lowering the overall cost of your utility bill when you use more power than your panels produce.
The Benefits of Net Metering
There are several potential benefits to selling your unused solar energy back to the grid:
You will save money on your energy bill, as previously stated. You may earn monthly credits on your energy bill or even a cash return for the solar energy you don’t use, depending on the state you live in and the policies of your utility company.
You’ll also contribute to creating new jobs in the solar energy sector. As the need for solar energy grows, more jobs for solar energy manufacturers, installers, and electricians will become available. According to SEIA, almost 174,000 Americans work in the solar-tech industry. That number should keep climbing as more homeowners, and commercial building owners opt to install solar panels.
Finally, you’ll set a good example for solar technology’s future. Solar energy is still a relatively new business. And as more people invest in it, it will become more widespread. You will be able to help create additional jobs.
You’ll also set a good example for neighbors who may be interested in joining the fast-growing solar movement.
To find out about the latest net metering rules in your area, get in touch with a local solar installer who knows the ins and outs of this exciting, yet sometimes confusing, opportunity!
