What is Net Metering?
How it works:
Net metering works by measuring the flow of electricity in both directions (from the grid to the customer and from the customer back to the grid) using a smart meter. Credits:
If your solar panels generate more electricity than you consume, the excess energy is sent back to the grid, and you receive a credit on your utility bill for that excess, which can be used to offset future energy consumption. Benefits:
Net metering helps homeowners reduce their electricity bills, making solar energy more economically attractive. It also contributes to the state's renewable energy goals.New Jersey's Net Metering Program:
New Jersey mandates that utilities offer net metering to customers with solar PV systems up to 2 megawatts (MW) in capacity. Credit Carryover:
Credits earned through net metering can be carried over to offset future bills for up to a year. "True Up":
At the end of a 12-month billing period, any remaining credits are either used to offset the final bill or paid out to the customer, depending on the utility.