[Blackbirdws6]

Originally Posted by sweetbmxrider

Mine was credited in energy generated. Straight trade kw to kw.

Only up to 100% of your usage within a 12 month period. Anything in excess is paid back at a the wholesale electric rate. This goes back to my comment regarding over sizing of the system.

Net Metering in New Jersey

Net metering helps customers maximize their renewable energy investments. It enables customers to obtain full retail credits on their utility bill for each kWh of electricity their system produces up to 100% of their electricity usage over the course of a year.

When a renewable energy system produces more electricity than the customer actually uses, the customer will be compensated with credits at the full retail value of the electricity for the production over and above what they use. For example, on a typical sunny day at moderate temperatures, a customer with a solar system may use less electricity than the system actually generates. When electricity production exceeds usage, the utility meter will spin backwards and provide the customer with credits for the excess energy produced. These credits can be used by customers as needed.

With net metering, your electric meter spins forward when electricity flows from the utility into the home, and backwards when power flows from the home to the utility. Your stored kWhs are "netted," or paid back, on an annual basis.

Please be advised that when a net metered customer with a renewable energy system switches their electric supplier or elects to change their anniversary date, any excess generation that exists at the time of the change is credited at the wholesale electric rate known as Locational Marginal Pricing (LMP) rather than as a full retail credit. The solar electric generation balance is zeroed out and a new 12 month cycle begins on the effective date of switching to the new electric supplier or of establishing a new anniversary date. It is recommended that you consult with your existing supplier to understand the status of your net metering account prior to switching electric suppliers. The full text of the applicable rule may be found at N.J.A.C. 14:8-4.3 j (1) and (2).

Together, New Jersey's interconnection rules along with the net metering rules ensure that customers with renewable energy systems or generators are compensated for the clean, renewable energy they produce.