A really important aspect of going solar, is understanding and being able to benefit from favorable net metering terms.
Net metering is essentially the exchange rate you get from your utility company from the energy you create that goes back into the grid (overproduction). For instance, let’s say you produce 20 kWh (kilowatt hours) during the course of a day but only use 15, the extra 5 kWh are stored in the grid for later use. When those kilowatt hours are called back you may get a 1 for 1 credit, you may get 90% of it’s value, in some states you get even less.
The utility company has justified what essentially amounts to a fee for use of their infrastructure essentially operating as your battery until you need to pull back that excess power you’ve produced.
Currently here in Southern Nevada, the net metering value is 95% of the retail rate for electricity which is one of the more favorable exchanges in the country. This exchange rate coupled with the savings one can realize when going solar are certainly contributing factors to the runaway success of solar in Las Vegas, Henderson and surrounding areas.
A few things that you will want to keep in mind though is that although we currently have wonderful Net Metering terms, there is a staggered tier system that will reduce the value over time. Once the first threshold of 80 megawatts of installations has been met which we’re getting close, it will drop to 88%, then 81%, then down to 75% so if going solar is something you’re inevitably going to do, maybe now is a great time to explore options, get quotes and possibly make the jump to clean, solar energy.
We have an amazing team of solar professionals, always on call to field any questions you may have.
If you’d like to learn more or even get a free quote, reach out today and we’ll get you taken care of.