As solar panels have got cheaper and government has thrown its weight behind the adoption of solar technology to meet its ambitious target of generating 40 GW of power from rooftop projects by 2022, the eternal sun continues to give us a chance to tap into this vast power source.
Now the common man can benefit and earn from using solar power.
Net Metering concept is what has made this possible, viable and sustainable at both institutional and individual levels. In this electricity board keeps track of the energy consumed as well as generated by a solar-powered house. It allows consumers to feed surplus solar power into the state’s power grid when they don’t need it and receive a credit on their electricity bill.
Simply put, if you have installed Solar on your rooftop and implemented the net metering policy, then you get credited for the electricity you deliver back to the grid at the same retail price that you pay for the electricity you take from the grid (this differs from state to state in India).
This concept uses the power grid as a giant battery, which eliminates expensive battery backups to store and balance out the power consumption through the day.
With net metering systems, one only pays for the deficit power consumed i.e. the difference between the power consumed from the grid and the solar power generated. This drastically reduces electricity bill while in some states gives you an opportunity to earn an income.