Benefits of Net Metering
WHAT IS NET METERING?
In a nutshell, the Net Metering program in Ontario is a provincial government incentive for homeowners who generate their own electricity with renewable energy sources (wind, water, solar etc.). This incentive allows homeowners to send any surplus of electricity they produce into the grid in exchange for Grid Credits.
Grid Credits are used to offset future electricity costs from the local utility company during low generation periods. For example, if you produce a lot of extra electricity during the summer months you can reduce your electricity bills in the winter with your Grid Credits when solar production is low. Either way, Net Metering rewards homeowners who use renewable energy sources by allowing them to save on electricity costs during high and low production days.
HOW DO COSTS GET REDUCED?
The amount of money you can save from Net Metering varies depending on several things: the size of your solar system, how much energy your solar system produces, and how much energy you use at home. The trick is to install the right size solar system for your energy needs. A typical household uses around 1 000 kWh (kilowatt hours) of electricity a month. A typical net metering system is 10kW or less. With our custom built solar systems homeowners can reduce their yearly electricity costs by up to 80% or more. With the cost of electricity going up in Ontario, homeowners who Make The Switch today can save tens of thousands of dollars by switching to solar.
NO NEED FOR A BATTERY STORAGE SYSTEM
One of the most convenient benefits of Net Metering is the not needing a home battery. Since all excess electricity gets sent to the grid, the grid acts as a giant virtual battery where you can exchange your Grid Credits for electricity. When you install a Net Metering system your home will also get a bilateral meter that automatically records the amount of solar power you produce, how much of your electricity is fed back to the grid, and how much power you use from your local utilities company. When you’re producing more energy than you use you are essentially running the meter “backwards” and getting a net gain when you produce abundant energy.
There is little to no maintenance needed after the installation of your solar system. Since you won’t need a battery with Net Metering it eliminates having to replace or maintain any physical parts other than the panels themselves. That being said, the solar panels themselves are also extremely durable and require little to no maintenance. Our solar panels also come with long warranties of up to 25 years, making it a worry-free investment.
In addition to the financial motivation to participate in Net Metering, the program also has many other benefits. For example, each home can potentially power two or three other homes on the grid, taking pressure off the grid during peak consumption periods; furthermore, and arguably most importantly, it encourages homeowners to play a more active role in renewable energy production, take control of and responsibility for their energy expenses, and allows them to be more aware of personal energy consumption levels.
Interested in Making The Switch to clean, renewable energy? We make going solar easy!