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.
- ‘How do you incentivize wind energy and solar and make sure that net metering, for example, occurs?’
- ‘With net metering, surplus solar power in excess of instantaneous loads spins the revenue meter backwards.’
- ‘By using the utility grid as a giant battery to store excess energy, net metering alleviates the need for expensive batteries and directly affects the economics and payback period for the investment.’
- ‘Two years ago, E reported that 23 states mandated some form of net metering.’
Surplus energy, measured by an electric meter, is netted from the amount passing from the utility to the customer.