Net metering in Florida is — for the most part — one-for-one.
This means that if any solar panel array generates excess power, that power feeds back to the power grid, and the solar owner is credited one kilowatt hour (kWh) per one kWh pushed back to the power grid.
Right now, in Tallahassee, Republicans are sponsoring a bill (SB1024) that changes net metering from dollar-to-dollar to 25 cents for every dollar of power sent back to the grid.
This means that when a client generates excess energy — let’s say, to the tune of $100 in any given month — the electric company will only credit that customer with $25.
This is 100% to the benefit of the electric company, and has zero benefit to the business owner or homeowner who has rooftop solar panels.
But there is a silver lining: all the homes with solar panels installed before January 1, 2023, will be grandfathered in with one-to-one net metering for the next 10 years.
Moral of the story, there are two big reasons to get solar NOW:
- No. 1: If you wait until next year, you might lose net metering, which would make solar more expensive.
- No. 2: The federal tax credit is reducing from 26% to 22%. Even if SB 1024 is defeated, consumers still have a reason to buy solar now before the tax credit is reduced, and eventually, removed permanently.
In the meantime, Tampa Bay Solar needs your help preserving energy freedom and jobs. Contact your local representatives or State Senators and urge them to protect your solar rights by opposing SB 1024.