Have you ever wondered how much money you could save on your energy bill by generating renewable energy?
As a Duke Energy customer, you might be eligible for their net metering program, which can help offset your retail electricity bill.
In this blog post, I will discuss the benefits of generating your renewable energy, how Duke Energy’s net metering program works, and what changes to expect from the program shortly.
Understanding Net Metering
Net metering is a billing arrangement that allows customers who generate their electricity from renewable sources, such as solar panels, to offset their energy costs.
Here’s how it works:
- You generate electricity using your renewable energy system
- Any excess energy your system produces is sent back to the grid
- Duke Energy credits your account for the excess energy
The Benefits of Net Metering
There are several benefits to participating in a net metering program:
- Lower energy bills: By generating electricity, you can offset your energy usage and reduce your monthly bill.
- Environmental benefits: Renewable energy sources like solar panels produce clean, sustainable energy that reduces greenhouse gas emissions.
- Energy independence: By generating your power, you become less reliant on utility companies and can avoid fluctuations in electricity prices.
Duke Energy’s Net Metering Program
Duke Energy’s net metering program allows customers to receive credits for excess energy generated by their solar panel systems.
The program has been around for some time, but new changes are on the horizon:
- All excess energy will be credited at the end of each month at the avoided cost rate
- Customers who join the program after July 1, 2023, will be subject to a fee
Understanding the Changes to Duke Energy’s Net Metering Program
The changes to Duke Energy’s net metering program will affect new customers who join after July 1, 2023.
The initial proposal would lower net metering rates from $0.05 and $0.20 per kWh to around $0.03 per kWh.
These changes could impact how much money customers save by using solar power.
Verifying Your Duke Energy Net Metering Account
If you’re already participating in Duke Energy’s net metering program, ensuring your account is being billed accurately is essential.
Some legacy customers had analog meters that went backward when exporting energy to the grid. Make sure you’re being credited correctly for the energy you produce!
Is Net Metering Right for You?
Before signing up for Duke Energy’s net metering program, consider the following factors:
- The cost of installing a solar panel system
- Your energy usage habits and needs
- The potential savings from generating your renewable energy
The Future of Renewable Energy and Net Metering
As renewable energy technology advances and becomes more accessible, net metering programs like Duke Energy’s will continue to evolve.
Participating in a net metering program supports the growth of clean, renewable energy and contributes to a more sustainable future.
In this blog post, I’ve provided an overview of Duke Energy’s net metering program and discussed the benefits of generating renewable energy.
Whether you’re a current Duke Energy customer or considering making the switch, understanding the ins and outs of net metering is essential to maximizing your energy savings and reducing your environmental impact.