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Darondo t1_ixe59rv wrote

Reply to comment by rubyslippers3x in Apologies for yet another thread on the new electricity rates coming our way, but for anyone who has yet to switch away from Eversource, I just did it and it took all of two minutes and will save my wife and I tons of money by mikemikemikeandike

Okay, so you signed your contract in 2021 then. I assumed it was this year since your system isn’t live yet.

I’m also assuming you own the panels. I don’t know how lease structures work.

With the 2022 net-metering structure, you bank your excess generation as monetary credits like I described, and tap into those funds in the winter when you are under-producing. Additionally, you receive $0.0318 for every kW you generate. You can only cash out remaining monetary credits when you move, but you are paid out the per kW earnings on a quarterly basis.

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rubyslippers3x t1_ixeci0s wrote

No. I signed up this year for installation next year. We are not banking monetary credits. It's kw hour even exchange. Any kw we need in excess of what we bank will be at Eversource current rates. We sized our system to accommodate heat pumps and 2 electric cars... that we don't have yet... because that is allowed. We used 14k kwh last year and we sized our system at 19k kw, so we don't anticipate any need to buy. Yes, this is a purchase. Leasing is a horrible idea.

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Darondo t1_ixedls7 wrote

Okay, guess you got some sort of deal that’s unique from every other CT resident that got solar this year. That’s cool.

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rubyslippers3x t1_ixeqxrg wrote

Netting incentive from the link you shared:

"Power produced by your system, but not consumed within the month, is "netted" at the same rate you pay Eversource for electricity

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."

If I didn't explain it this way, then I apologize. I'm not special. My excess is credited at the same rate being offered, so kw sent= kw purchased. If I need more than I send them I have to buy at the current rate.

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