Supercharge Your Solar Savings with 1:1 Net Metering
If you’ve been thinking about switching to solar, it’s a great time to lock-in Arkansas’ 1:1 net metering.
What is Net Metering?
Net metering is how Arkansans reap the full benefits of going solar without storage, to save money on their electricity bill. Homeowners and businesses earn credit for the energy they supply to the grid from excess solar production at a dollar-for-dollar rate. So, for every kWh your solar array produces over what your home or business consumes over a billing period, you would receive a credit to your net-metering account from your electricity provider.
For example, if a residential customer has a grid-connected solar array on their roof, it may generate more electricity than the home uses during daylight hours. If the home is net-metered, the electricity meter will run backwards to provide a credit against what electricity is consumed at night or other periods when the home’s electricity use exceeds the system’s output. The customer is only billed for their “net” energy use at the end of the billing period.
Net Metering Policies
Net metering policies vary by state, and by different utilities even in Arkansas. The differences include the capacity limits for residential and non-residential sectors, the true-up period, and how the net excess generation is compensated.
The 94th General Assembly passed Act 278 which changed the net metering policy in Arkansas for some utilities. The new legislation eliminates the 1:1 rate, and instead institutes two-way billing, lowering the compensation rate for solar users to avoided cost rates that electric utilities pay other power providers.
The new net-metering rules allow existing agreements between net-metering customers and utilities to remain in place, or grandfathered, until 2040. To take advantage of the current net metering with the grandfathering term, Arkansans have until September 30, 2024, to install solar panels (or take a few other steps) to take advantage of net metering at the current 1:1 rate structure.
Get a Free Quote
Now’s the perfect time to take advantage of the 1:1 rate and maximize the savings a solar array provides. With industry leading knowledge and exceptional experience, Seal Solar will make sure you and your home or business reaps all the benefits of solar. Contact us today for a free solar installation quote!
