Net Metering and You: Benefiting From Your Solar Energy Array

Net Metering and You: Benefiting From Your Solar Energy Array

Are you considering going solar? Chances are, if you’re reading this, you are.

Do you live in New Hampshire? If so, the time is now to get on board.

Converting your residence or business to solar power is beneficial in myriad ways, but, at the current moment, there’s an added benefit that comes with an expiration date. That benefit is known as “Net Metering” which is essentially the added value that stems from your solar power array in the form of a quarterly check from the applicable public-utility provider (such as Eversource, Unitil, ENH, etc.) that your solar panels are in line with.

Essentially, you, the consumer (residential or commercial) can sell back the power your solar power array produces that you aren’t currently using to support your own energy consumption. You have in turn, basically set up your home or business to be an independent energy producing machine.

Now to answer a couple of overarching questions:

What is Net Metering?

Net Metering refers to a renewable energy incentive program created by the New Hampshire Legislature. Net Metering stems from a system in which solar panels or other renewable energy generators are connected to a public-utility power grid and surplus power is transferred onto the grid, allowing customers to offset the cost of power drawn from the utility partially, or in full. The monthly bill from the applicable public-utility company that a residence or business is tied to will reflect the “net” energy usage (i.e., the difference between the energy used during the billing period and the energy that was produced by the renewable energy generator).

Who is eligible for Net Metering?

That’s what we’re trying to tell you – ANYONE! If you have an array of solar panels on your property, you are eligible. But you need to act fairly quickly, as once the cap is hit for this net metering benefit, there’s no telling what the future will hold. As of right now, if you make an investment in solar with us, GoSolar NH, by the end of the year (2016), you should be safe.

Net metering is available to any consumer who owns or operates an electricity-generating facility powered by renewable energy, with a total peak generating capacity of not more than 1000 kilowatts. The renewable energy generator must be located behind a retail meter on your premises, be interconnected and operate in parallel with the electric grid, and be used in the first instance to offset your own electricity requirements.

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In May of 2015, New Hampshire Governor Maggie Hassan signed into law HB1116 – marking the official raise of the state’s net metering cap from 50MW to 100MW.

This means that the existing net metering and group net metering rules continue to apply to the new 50 MW of allowed net metered capacity, including credits for individually net metered systems under 100 kW and payments for larger and group net metered systems. All systems under the 100 MW cap will receive their current payment or credit terms until 2040.

In her statement following the bill signing, Governor Hassan said:

“Clean energy resources such as solar are helping businesses and families across the state lower their energy bills and increase their energy independence, helping to build a more diverse and reliable energy supply that will lead to a more affordable and more innovative energy future for our state. Lifting the cap on net metering is essential to the continued success of New Hampshire’s solar industry, and I am proud to sign this bipartisan bill so that our clean energy industry can continue to grow and thrive.”

If generating clean energy weren’t enough, this Net Metering benefit certainly puts the prospect of owning your own solar panel array above and beyond. If you have any further questions at all, GoSolar NH is here to answer them for you. We believe in the power of solar, and we believe in helping facilitate the procurement and installation of this type of energy on any property throughout New Hampshire. The more solar powered properties around, the better the future looks for our planet. Oh, and let’s not forget how well it helps your wallet too…

Cut your energy bills and do some good for the earth simultaneously.

Go solar today for a brighter tomorrow.