If your solar electric generation system is interconnected and is part of the net metering program, you do not pay for the energy that the system produces and your home consumes. In addition, you receive a credit on your bill for the full retail amount of any electricity your solar system exports to the power grid. This means you buy less energy from LUMA Energy which results in lower energy bills.
If your solar electric generation system produces more electricity than your home or business consumes during any given billing period, then those excess kWh will “roll over” to be applied to your bill the following month, or in any future month during the fiscal year.
This is why the policy is called “Net Metering,” because at the end of each billing cycle, customers with solar electric generation systems interconnected through the net metering program are billed for the “net amount” of electricity that they consume from LUMA Energy. “Net amount” means the amount of kWh consumed from LUMA Energy minus the amount of kWh exported to the power grid by your solar electric generation system.
At the end of each fiscal year (on June 30th), if your system has produced more solar electricity than you have consumed for the entire fiscal year, then you will get a credit on your account every July for $0.075 times the amount of excess kWh accumulated during the fiscal year. Additionally, an amount of $0.025 times the amount of excess kWh will be credited to the Department of Education accounts per the law that created the net metering program.