SRECs

What Types of Meters Are Used With Solar Panels?

September 15, 2022 By Cassandra Love Leave a Comment

When you think of a solar energy system, you probably think of solar panels that are placed on your roof to convert the sun’s energy into electricity for your home or business. But there’s more to solar energy systems, including meters that tell you how much electricity your system is generating, how much energy you’re using, and how much energy you’re purchasing from the utility company.

These meters are often overlooked components of solar energy systems, but understanding what type of electric meters are used with solar panels can help you decide on a solar energy system. Let’s take a look at the types of electric meters that are available, and that you might need for your solar energy system.

Utility Meters

All owners of a grid-tied solar system will need a bi-directional utility meter to keep track of the electricity their system is taking from and transferring to the grid. So when you install solar panels, you will most likely get a meter installed during the process, which will show how much power is coming in from the grid, as well as how much power is going out from your solar into the grid.

Net Meters

Unlike bi-directional utility meters, net meters do not measure how much energy you are producing, or how much you are consuming from the grid. This type of meter actually measures the difference between the two, or the “net usage” of your solar energy system. And if your system is producing more energy than it’s using, you can actually see your meter run backwards!

PV Meters

Photovoltaic meters, or PV meters, are used to measure how much electricity your solar system generates. These are considered one-directional meters because they only measure power that is transferred to your solar energy system and not vice versa. They are accurate in measuring usable electricity, so can be used for solar renewable energy credits (SRECs) if you live in a state that has an SREC market. SRECs are credits you get from your utility company for every thousand kilowatt-hours your system produces. These meters are not necessary to install unless you plan on selling your SRECs.

PV meters need to be connected to the internet so it is possible to monitor your solar system’s production. You can then connect your meter to your computer or smartphone and read the meter instead of having to walk outside and look at the meter mounted on the wall.

Consumption Meters

These meters are not necessary but they are useful in informing you exactly how much electricity you have used, including the electricity that is used directly from your solar energy system. They also measure the electricity that is pulled from the utility company. A consumption meter can be useful for determining your exact electricity usage, so you can make sure that your solar system is meeting your electricity needs and isn’t falling short.

Need Help?

Have questions? Go Solar Energy can help! Our agents are highly trained and knowledgeable in the solar industry and can assist you with any questions you have. If you are interested in installing a solar energy system in your home or business, we can compare quotes from the top-rated companies in your area and find you the best plan with the most efficient solar panels – and we’ll save you money. Get started by entering your zip code in the bar on our homepage, or for free quotes and guidance from one of our licensed agents, call 888-290-3112.

What Electric Companies Don’t Want You to Know About Solar

April 9, 2022 By Cassandra Love Leave a Comment

One of the reasons solar energy has become so popular over the last few decades is that switching to this renewable energy source can save you thousands of dollars a year on your electric bill. This makes electric companies nervous: there are a lot of things that they don’t want you to know about solar energy, so you won’t make this beneficial switch. After all, they want to keep your business! But we’ve got the inside scoop on everything they don’t want you to know about switching from traditional power to solar energy.

Solar Power Is on the Rise

Solar energy has been getting more popular in the United States, and around the world. There are many reasons why people are investing in solar panels; the amount of money you can save is often the number one reason, but other reasons include:

Solar power increases the value of your home
Making the switch allows you to be more environmentally friendly and to help save the planet
You can get state AND federal tax incentives to help offset the cost of switching

Switching to Solar Power Is Cheaper Than Sticking with Traditional Electricity

Let’s take a closer look at the savings we mentioned. Have you actually sat down and calculated your electric bill over the past few years? If you do so, you’ll see that your electric company increases its prices by 3 to 5% every year! A lot of electric companies think they can get away with this, and why? Because customers often feel that they have no other option for electricity, or that solar power is out of their reach. But neither is true! You have the option to switch to solar, and while making the switch might seem expensive (installation can cost up to $10,000), the savings you’ll get in the long run make the initial outlay well worth it. Your investment will soon begin to pay for itself, since you’ll be receiving free renewable energy from the sun.

Your Electric Company Can Pay You

Did you know that, with a solar energy system, you won’t just save money, but you can also make money? Your electric company might not want you to know that they could end up having to either credit you or even pay you for any surplus energy that your solar energy system produces, through either a billing mechanism known as net metering or through Solar Renewable Energy Credits (SRECs).

illustration of a man on a laptop with a bag of money being handed to him

Utility companies in the United States are required by law to offer net metering to customers with solar power systems. This billing mechanism allows you to sell excess energy back to the electric company for credit against your account. Doing this can essentially take your utility bills down to nothing.

You can also look into getting SRECs from your utility company, which means they’ll essentially pay you for helping them meet their requirements for producing a certain amount of clean energy. For every megawatt-hour (1,000 kWh) produced by your system, you will get one SREC. Generally, you can estimate the number of SRECs your system will produce by multiplying the size of the system by 1.2. For example, a 5-kilowatt system will produce approximately 6 SRECs each year. The price of these certificates will vary by location, ranging anywhere from $5-$500.

Looking For An Affordable Solar Energy System?

Your electric company does not want you to know about all the great ways you will be saving money while helping the environment when you switch to clean, renewable solar energy. If you switch, you’ll save a lot of money on your electric bill, because of all the incentives available, such as tax credits, SRECs, and net metering. Taking advantage of programs like this will mean you’ll get a return on your investment as quickly as possible, which will eventually lead to decades of free solar energy!
It can take a lot of work to find the right solar company and the right solar power system for you, but our highly trained agents can make things easy for you. We work with the top-rated companies in the country and can compare all solar plans in your area to find the best one available. To get free instant quotes, simply enter your zip code in the bar on our homepage, or to speak to a licensed agent, call 888-290-3112.

Making the Switch to Solar for Your Small Business Has Never Been Easier with Go Solar Energy

January 30, 2022 By Cassandra Love Leave a Comment

Making the switch to solar energy for your small business can feel like a big deal. It is a big expense, but think about this: whether you want to save some money on your bills, help the planet, or both, going solar is a great investment, especially considering the tax credits you can get to offset the costs. But is making the switch right for your business? Would your business benefit from using renewable energy? Go Solar Energy’s highly trained agents can assess your personal situation and determine if a solar panel system is right for you, and which plan would be best for your business.

What Kind of Building Do You Operate Out Of?

Before you decide on going solar, think about your physical workplace. Do you operate out of a small space? More importantly, is your business on property that you own, or does it share a roof with other businesses? Are you leasing the property or do you own it? These are all things that need to be taken into consideration when determining if a solar energy system is right for your business.

How Much Power Do You Need?

Are you open for long hours, or every day of the week? How about during holidays and on weekends? With traditional electricity from the utility company, energy costs are based on usage, which can add up for a small business. But with solar power, your panels will take the sun’s rays and transform it into electricity, and any excess that you do not use can be stored for use whenever you need it. And for times when you don’t have any excess energy stored away, you can use electricity from the utility company – which is still cheaper than solely relying on electricity from the utility company.

Is Your Business Somewhere That Experiences Power Outages?

candle lit with a laptop screen in the background

Power outages can mean closing your business and losing profits. With a solar power system, though, you will always have electricity for your business, even when there is an outage or a storm that knocks out the electricity. How? Well, your panels will generate excess power that is stored away for these kinds of days, and you will have even more power stored if you have battery backups in addition to your stored excess energy. With both of these things, your business’s doors will always be open when you need them to be.

Can You Afford to Make the Switch?

Some people assume that solar panel systems are too expensive for them, and while they can be pricey, there are ways to make them more affordable. For example, there are tax credits available, such as the investment tax credit (ITC) which apply to both residential and commercial solar installations. These credits alone would save you 26% off the cost of installation when deducted from your federal taxes.

You can also receive Solar Renewable Energy Credits (SRECS), which allow you to earn additional income from solar energy generation. You can earn one SREC for every megawatt-hour (MWh), or 1,000 kilowatt-hours (kWhs), of electricity your solar panel system generates, which you can sell to get even more of your money back.

Our agents can also look into other ways to help you save money when you purchase your solar energy system. You’ve worked hard to build your business from the ground up, and we know you want to grow it as much as possible – and going solar can actually help you do that! If you are considering solar panels for your business because of all the money-saving and brand-boosting. benefits, Go Solar Energy can help you. It can take a lot of work to find the right solar company and the right solar power system for you, but our highly trained agents work with the top-rated companies in the country, and can compare all solar plans in your area to find the best one available. To get free instant quotes, simply enter your zip code in the bar on our homepage, or to speak to a licensed agent, call 888-290-3112.

How To Have Your Utility Company Pay You With Solar!

October 16, 2021 By Cassandra Love Leave a Comment

One of the major perks of making the switch to solar energy is that you can save money on your electric bills through billing mechanisms like net metering and SRECs. With net metering, you can save up any unused energy that your panels produce and then “sell” it back to your utility company for credit on your electric bills. It’s a great way to save money, but you can also sell SRECs to your utility company and make money to help offset your solar installation costs. You might be wondering, “How can I start saving money by selling solar power back to my utility company?” Follow these steps and you will be saving money in no time!

Net Metering & SRECs

As mentioned above, net metering is a great way to save money by “selling” the extra electricity that is generated by your solar system back to your local utility company’s grid. You are not actually selling the energy for money, instead you are exchanging it, in a sense, for energy that you can use when your solar energy system is not producing as much energy. The great thing is that net metering often allows you to exchange your electricity at the retail rate, which means it’s worth just as much when you sell it back as when you purchase it from the utility company.

So how does it work? Well, if your solar panels produce more electricity than you are using at any point during the day, the electricity will be sent back to the grid, running your electric meter in reverse. On the other hand, on very cloudy days or at night, when you use more electricity than your solar panels are producing, you might take electricity from the grid, running your meter forwards. At the end of the month or year, you are billed or credited for the net of the energy you put into the grid versus what you used.

You can make actual money, though, by selling SRECs, or solar renewable energy certificates, to the utility company at the market rate. For every megawatt-hour (1,000 kWh) produced by your system, you will get one SREC. Generally, you can estimate the number of SRECs your system will produce by multiplying the size of the system by 1.2. For example, a 5-kilowatt system will produce approximately 6 SRECs each year. The price of these certificates will vary by your location, ranging anywhere from $5-$500.

Can You Take Advantage of Net Metering?

illustration of a contract with a blue circle around it

So how do you get started with net metering? First, make sure you know your utility company’s interconnection standards, which is how renewable energy systems can be legally connected to the electricity grid. Once you find this out, you will know how much you can sell back to the company, since the rules and rates for selling electricity to the grid vary by state, as well as by utility company. Currently over 40 states allow some kind of net metering.

Next, you’ll have to determine if your solar energy system is generating more electricity than your home or business needs. Examine your electric bill and determine what your average use of electricity is; if you would like to be able to sell electricity back to the grid you will have to install a solar panel system that will generate more than enough energy to cover your needs.

Sell Away!

If your state and your local utility company allow net metering, and if you’re generating enough energy, your last step is to contact your local utility company and get set up to get credit for the excess energy you produce, so you can use it at a later time. If you want to make money instead of exchanging your energy with the utility company for credit, you can choose to sell your SRECs, by either:

Finding a buyer– You can make an agreement with a broker like solsystems.com, who will sell your SRECs directly to the utility on your behalf for a small portion of your profits
Selling them upfront– You can sell the rights to all of your SRECs through a solar installer or a financing company for immediate returns on your installation.
Sell them yourself – You also have the choice to sell them through a self-managed account, such as FlattExchange, which can be risky if you do not know how these accounts work.

Installing a solar panel system is a great way to help the environment – and your wallet. You will save a lot of money on your electric bill, because not only can you get incentives, such as solar investment tax credits, but you can also sell excess electricity back to your local utility company. Taking advantage of programs like this will mean you’ll get a return on your investment as quickly as possible, which will eventually lead to decades of free solar energy!

It can take a lot of work to find the right solar company and the right solar power system for you, but our highly trained agents can make things easy for you. We work with the top-rated companies in the country, and can compare all solar plans in your area to find the best one available. To get free instant quotes, simply enter your zip code in the bar on our homepage, or to speak to a licensed agent, call 888-290-3112.