Earning Money with Solar – A Net Metering Guide
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Introduction
Renewable energy is a long-term power solution. Throughout the system’s life, solar technology provides access to an economical power supply. Residential and commercial consumers can reduce their power expenses by switching to renewable energy. Pakistan has enormous potential for solar-powered electricity generation. Except for a few locations in the north, almost the whole nation is arid and scorching. Despite this, solar power generates only 1.16% of the country’s electricity. In comparison, fossil fuels account for 64% of total energy use. This enormous untapped potential provides a fantastic opportunity for customers to create and sell electricity to the national grid.
Net metering schemes make investing in the best solar panels much more appealing to households by significantly lowering monthly payments. As a result, if you use a net metering system, you should be able to recoup your initial solar panel investment far sooner than if you do not. The solar net metering policy was implemented after thoroughly reviewing successful models worldwide. The National Electric Power Regulatory Authority (Nepra) established net-metering laws in September 2015, allowing DISCOs to purchase excess units of energy produced by users and net them off against units used from the grid. According to these laws, any national grid customer with a three-phase connection can use net metering for small-scale (1kW to 1MW) renewable energy projects.
So far, the Alternative Energy Development Board has registered approximately 42 accredited vendors and service providers for installing wind and solar PV systems for net metering of up to 250kW capacity (AEDB). Hundreds more are awaiting department registration. In Pakistan, about 4,000 new net metering permits were granted in the July-September 2021 quarter, up from 2,000 in the same period in 2020. This indicates an increasing trend in the near future.
What is Net Metering?
Net metering is a control system. Its goal is to keep checks and balances in place, particularly for individuals who have solar panels on their roofs. It also saves electricity in the long run. This essentially implies that homeowners may monitor and adjust the amount of energy they consume during the day and at night. While you are away, your house may generate additional electricity with the help of solar. You could buy some costly batteries to store that additional energy for use at night, but there is another option to send excess electricity back to the grid, which is known as net metering.
Why Net Metering?
The implementation of net metering in Pakistan was a revolutionary step that many people did not believe in at first. However, because of its benefits, most people are eager to implement net metering as soon as possible. It is a credit system that allows you to sell surplus power generated by your system back to the grid in exchange for credit. You may either cash out these credits or apply them to your account. In the summer, most of the power is consumed, and very little is transmitted to the grid; nevertheless, in the winter, people might have more than 50,000 rupees in credit that they can use to cancel their summer bills.
In Pakistan, net metering provides nationwide financial and economic benefits in terms of employment, compensation, and venture. Net metering solutions can provide a smoother demand curve for power and allow providers to manage peak demands better. Net metering lessens the pressure on distribution frameworks and avoids power losses in long-distance transmission and power division by enabling generation close to the point of use. It is a remarkable occurrence that has made solar system installation more profitable than ever.
How to apply for Net Metering?
According to NEPRA guidelines, the procedure takes roughly 90 days to complete; however, the time period may vary depending on the availability and validity of the prerequisites. These are the steps required to apply for net metering:
a. Preparation of Application
Following the installation of your solar system, our net metering staff will assist you in preparing your application in accordance with SRO 892 (1) 2015.
b. Inspection & NOC issuance
Following application clearance, the Punjab Energy Department conducts an electrical examination in accordance with SRO 892(1)/2015 and the SOP for NOC Issuance.
c. Signing Of Agreement
The Consumer and LESCO execute a three-year legal agreement that enables the customer to supply excess energy to the national grid.
d. Allotment of Generation License
Once the regulatory authority approves the formal agreement submitted to NEPRA, you will be able to operate as an independent power producer for the following three years.
e. Activation of Net Meter
The final stage is for LESCO to make you the autonomous power-producing authority. Following the successful allocation of a generating license, your net meter will be enabled, allowing you to save and earn simultaneously.
Conclusion
Radiance Tek believes that our beloved country, Pakistan, would benefit most from solar energy. All of our efforts and difficulties to assist people in solarizing and being self-sufficient in energy generation are aimed at making Pakistan energy independent. We are trying to clear the path for Pakistan to end its energy issues and advance toward becoming a developed country. If you’re interested, now is the time to go bring solar power to Pakistan with Radiance Tek.