With the Netting Incentive, you'll first supply power from the system to your home and only export excess power to the electric grid.
If you choose this option:
- Power produced by your system, but not consumed within the month, is "netted" at the same rate you pay Eversource for electricity
- Net credits are applied to your bill in dollars and will be used to offset future customer, supply and delivery charges
- Any excess credits can be carried over each month and cashed out if you stop electric service
- Once enrolled, your compensation rate (in dollars per kilowatt hour) for net production will fluctuate with the prevailing retail rate over a 20-year term
Current incentive rate
The netting incentive rate is the current retail rate + a quarterly Renewable Energy Certificate (REC) payment of $0.0318 per kWh. This rate is set by the state and remains the same for 20 years.
What are Renewable Energy Certificates?
A REC is generated for each megawatt-hour (MWh) of electricity that your system generates regardless of whether you use the energy or it is exported to the electric grid.
With the Netting Incentive, you’ll receive a new meter that measures how much energy you consume and how much is exported to the grid. You'll also receive a second meter to measure the energy produced by your solar installation.