Net metering is a solar incentive that lets you to send energy to the electric grid. When your solar panels produce additional electricity than you require, that energy is sent to the grid in exchange for credits. Then, at night or other times when your solar panels are producing less energy, you pull energy from the grid and use these credits to offset the costs of that energy.
Net metering requires replacing your existing unidirectional meter with a bidirectional net meter.
Net metering was announced in India as a measure to make distributed renewable energy more accessible and cost-effective for energy customers across the country. Net metering works by calculating the difference between the export of power generated by the user from a rooftop solar installation, and the import of power from distribution companies (DISCOM). Consumers are then compensated for the surplus power generated at a price determined by the state.
Generally, most households will produce surplus electricity during summer and will use more electricity from the grid during winter. You will build up extra credits during the summer months so that you can draw from them at night and during the winter months when you need them. With the right design, your rooftop solar system can generate enough power to match your total electricity use for a year.
Advantages of Net Metering:
1. Monetary benefits for Extra Solar Power Produced
2. No Battery Storage System Required
3. Less or No Maintenance