Globalization is driving the economy. With the increase in the number of people versed with the issue of global warming, the massing is looking forward to a sustainable form of development. The alarming rates of environmental degradation have put both, homemakers and industrialists, at a position where they cannot look forward to non-renewable methods of energy generation.
In the years to come, systems that lend a helping hand towards sustainable development are required. Solar rooftop installation is a major factor playing in putting up with the pace of developments without hampering the natural resources.
The solar power is becoming accessible, and people are now more keen to understand the mechanism and the cost related to solar energy. The government is devising policies to expedite the acceptance of the technology. One of the policies introduced is – Net Metering. It is a utility billing arrangement that can either be set up at homes or industries.
It allows businesses and individuals to generate electricity and feedback the unused energy back to their local power grid. A grid can be considered a storage unit that stores the energy that is produced by solar panels. Under this policy, the payment scheme followed is to credit funds back to the customer’s account at its retail price.
In the course of this program, the power supplying company allowed the customer’s meter to actually backtrack to the meter reading if the electricity the customer generates is more than they are consuming. The customer only pays for their net consumption, at the end of the billing period, which is calculated as per the number of resources consumed, minus the number of resources generated.
Net Metering works effectively to cut down the electricity bills. With the policy in place, households and industries have crossed the break-even of the installation cost of the system. The utility customers have issued a solar net metering device that measures the amount of electricity that is delivered from the power grid.
Commercial and industrial setups have a solar net metering system installed. It uses the specialised bidirectional meter that tracks the to-and-fro of power in the local power grid. The third reading on such meters displays the difference between the number of units delivered and the units received, or the net energy used.
Apart from the fact that judicial consumption of power can bring you to save up to 90 percent of the electricity bills every year, it also lowers down the cost incurred to utilize the power thereby increasing your savings from solar. This is because the power is created near the point where it will be used; this reduces strain on the grid’s distribution and transmission infrastructure. Solar rooftop system has helped people to use electricity that they have generated at their end as and when it is needed.
