What is 1:1 Net Metering?
Net metering has been around for a while, but only recently have more people become aware of the incredible savings it can provide. Here’s a brief overview of how net metering works on a 1:1 basis and why it’s so beneficial.
Net metering is a system that allows your home to be connected to your utility company’s grid. This connection enables you to sell any excess electricity generated from solar panels or wind turbines back to the utility company at the same rate as electricity purchased from them. When you use more energy than you generate, you will be billed for that extra usage by the utility company.
How Does 1:1 Net Metering Work?
With 1:1 net metering, when you generate excess energy with solar panels or wind turbines, it is sent back to the utility company at the same rate as electricity purchased from them. This means that if your electric bill normally totaled $100 per month and you generated enough energy to cut that bill in half ($50), then your total electric bill would only be $50—half what it was before! That’s because the excess energy produced by your solar panels offsets half of what was used from the utility company’s grid. It’s like getting free electricity!
What are the Benefits of 1:1 Net Metering?
The biggest benefit of 1:1 net metering is cost savings. With this system, homeowners can save hundreds (if not thousands) each year on their electric bills by generating their own renewable energy with solar panels or wind turbines. In addition to saving money, homeowners also reduce their carbon footprint significantly with this method since they are relying less on non-renewable sources of energy such as coal and natural gas. Plus, with net metering, there are often tax incentives available for those who choose to install renewable energy systems in their homes—which further lowers the upfront costs associated with these systems and provides even greater savings over time!
Conclusion:
Net metering is an incredibly useful tool for homeowners who want to save money on their electric bills while reducing their carbon footprint at the same time. With 1:1 net metering, homeowners can generate their own renewable energy using solar paneling and sell any excess power back to the utility company at the same rate as electricity purchased from them–effectively cutting their electric bills in half or completely wiping out the bill!
The benefits of net metering extend beyond just cost savings; homeowners also enjoy lower carbon emissions and often qualify for tax incentives too! If you’ve been considering switching to renewable energy sources like solar paneling or wind turbines, now might be a perfect time!
We can investigate whether your local utility offers net metering today! Send us a request for a free solar estimate and design!