Net Metering

Net Metering refers to a billing mechanism that allows individuals or businesses with renewable energy systems, such as solar panels, to receive credit for the excess electricity they generate and send back to the grid. This credit can then be used to offset the electricity consumed from the grid when the renewable energy system is not producing enough power to meet the demand. Essentially, it enables customers to "net" out their electricity usage, subtracting the electricity they export to the grid from the electricity they import, and only paying for the "net" amount consumed.