One of the biggest perks after installing a solar panel system at your home is the option to participate in net metering programs. Fortunately, Illinois has had a net metering program in place since 2008. With this, you can make the most of your solar production and use every drop of sunlight effectively!
What Is Net Metering?
Before you can participate in net metering in Illinois, let’s go over the definition of net metering so you have a good grasp of what is involved. It is likely that your solar panels will produce more electricity than your home needs to function at certain times of day, especially during sunnier times of year like summer and early fall. You can store this excess electricity in your backup battery system for use in the event of a power outage or at night, when your solar panels can’t produce any. But net metering presents another option.
With net metering, you send the electricity your home doesn’t need back to the grid, and the utility company will credit you for it on upcoming electric bills. Net metering is a great perk of adding a residential solar panel system to your home!
Are There Any Costs Associated With Net Metering?
POWERHOME SOLAR’s experts will install your solar system, setting you up to benefit your home for years to come. Because net metering is simply an offering from many utility companies, you likely won’t see any costs associated with it. Your utility company could charge you a fee for installing a new meter to accommodate net metering, but know that POWERHOME SOLAR pays that cost for you. The utility may also charge you a base fee just for connecting to the grid, though that’s a cost you would pay with or without solar!
How Does Illinois Net Metering Work?
There has been a statewide net metering policy in place since 2008. Currently, Commonwealth Edison, Ameren Illinois and MidAmerican Energy Company offer net metering for qualified solar customers, with credits on monthly electric bills exchanged for customers sending their excess solar energy back to the grid.
Eligible customers with solar panels generating 40 kW or less should receive a 1-to-1 retail rate credit. Homeowners who generate between 40 kW and 2 MW receive energy credits equal to the utility company’s avoided cost as provided by the solar energy from the homeowner.
These credits can be carried over month to month, meaning you can make use of your accumulated net metering credits in the month of your choosing — so long as it falls within the annual period, which can range from either May to April or November to October.
For utility company-specific policies, get in touch with your provider. As part of the process of solar installation, POWERHOME SOLAR will have familiarity with what your utility company may offer as well.
Solar Power Made Simple
Your local POWERHOME SOLAR office has all the information you need to know before going solar in order to make an informed choice. If you have questions about the potential savings net metering could bring to your home, contact us today! We’re happy to provide you with the answers you need.