A new law will make it easier for Rhode Island residents to get paid for any excess energy they create from at-home renewable sources.
Earlier this summer, Governor Daniel McKee signed into law HB-5580. As Environment Rhode Island reported, the bill removes some previous limitations that energy companies could put on residential customers who want to take part in net metering.
Net metering is designed to help lower the electricity bills of people who create their own electricity from sources like solar panels.
Oftentimes, people with solar panels create more electricity than their home needs for daily use. Under net metering, that excess energy goes out into the power grid and helps supply electricity to other local homes. In return, the energy company provides a credit on that customer's bill, which can be used for times of the year when the solar panels don't create enough energy.
This provides a valuable financial incentive for people who generate their own sustainable energy, and it can help solar panels pay for themselves even sooner. It also creates more energy stability for communities while reducing the amount of dirty energy used.
According to an analysis by the Brookings Institution, there is "substantial evidence that net metering is more often than not a net benefit to the grid and all ratepayers."
Rhode Island's new law, which passed with overwhelming bipartisan support, makes two big changes to previously existing net-metering restrictions.
First, energy companies can no longer prohibit customers from participating in net-metering programs because they haven't used much energy in the past. Secondly, the law requires that net-metering customers get credit for all excess energy they create, at a fair market rate.
As Environment Rhode Island noted, officials hope the law will remove a barrier to entry for homeowners considering solar panels by allowing them to plan for exactly how much energy they are likely to use and create, and how many credits they should receive for participating in net metering.
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